Bitcoin to NFT Must Report on SPT, Taxable?

Jakarta, CNBC Indonesia The Directorate General of Taxes at the Ministry of Finance emphasized that all digital assets owned by taxpayers must be included in the Annual Tax Return (SPT). Bitcoin and Non-Fungible Token (NFT) digital assets are no exception.

“NFT assets and other digital assets must be reported in the Annual Tax Return using the market value of December 31 in that tax year,” said Director of Extension, Services and Public Relations of DJP Neilmaldrin Noor to CNBC Indonesia, Friday (7/1/2022).

However, he explained that there are no special tax rules for these digital transactions. So that the tax charged when reported in the SPT is in accordance with the Income Tax (PPh).

“However, the general provisions of taxation rules can still be used,” he said.

That is, in this case the tax imposed is in accordance with general provisions, because the income received by the taxpayer from the transaction is part of the income. Then it will be added up to the total annual income and calculated according to the Income Tax Law.

“As stated in the Income Tax Law, any additional economic capacity is subject to tax. This includes the transaction that we are discussing, so it is still subject to tax with a self-assessment system,” he explained.

Currently, the government is still discussing special taxes that can be applied to digital transactions such as NFT and bitcoin cs. The discussion is quite long because it is still looking at how the tax should be determined whether based on the transaction or its value.

“The NFT and bitcoin transactions are still under discussion by the government,” he concluded.

[Gambas:Video CNBC]



Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.