NFT Assets Must be Reported in the Tax Return

Directorate General of Taxation (DJP) Ministry of Finance (Ministry of Finance) pathetic Non-Fungible Token (NFT) must be included in the Annual Tax Return (SPT). This was done following the rise of digital asset trading in the community.

“NFT assets and other digital assets must be reported in the Annual SPT using the market value of December 31 in that tax year,” said the Ministry of Finance’s Director of Extension, Services and Public Relations Neilmaldrin Noor to CNNIndonesia.com, Saturday (8/1).

According to him, digital assets are one of the tax objects because they have an additional element of income for their owners. Although it has not been specifically regulated, Neilmaldrin claims that NFTs can still be subject to general taxation rules.

“The government has not imposed a specific tax on these digital transactions. However, the general provisions of taxation rules can still be used,” he said.

According to search CNNIndonesia.com, general taxation rules that can be used are Law Number 36 of 2008 concerning Income Tax (PPh). The regulation explains that additional economic capacity will be subject to taxes both from within and outside the country.

“The object of tax is income, which is any additional economic capacity received or obtained by taxpayers, both from Indonesia and from outside Indonesia,” wrote Article 4 Paragraph 1 of the rule.

“As stated in the Income Tax Law, any additional economic capacity is subject to tax. This includes the transaction that we are currently discussing,” he said.

For this reason, he appealed to taxpayers who have NFT digital assets to report them to the Tax Return with the following system: self assessment.

For information, NFT is a digital token that is used to buy and sell digital artwork, such as GIFs, tweets, virtual trading cards, images of physical objects, video game skins, virtual real estate, and more. These tokens are linked to the blockchain system.

[Gambas:Video CNN]

(fry / sfr)

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