Oscar Darmawan has urged the government to reconsider the VAT on crypto transactions, arguing that crypto should be treated like other financial assets, which are exempt from VAT. Removing VAT would lower transaction costs, making Indonesia more competitive and encouraging traders to use domestic platforms instead of foreign exchanges.

As Indonesia’s crypto industry expands, flexible tax policies could play a crucial role in fostering growth. Darmawan believes that revising the current tax framework, particularly by eliminating VAT, would not only benefit traders but also increase state revenue from income taxes, as more investors would be incentivized to operate within the country.

With the crypto market evolving rapidly, Indonesia has the opportunity to position itself as a regional leader in digital asset regulation. By addressing current challenges and refining its tax policies, the country can create a more conducive environment for crypto adoption, driving both economic growth and technological innovation. The ongoing development of the industry underscores the need for adaptive and forward-thinking regulations. (Uki Ruknuddin)

YouTube player