Digital Tax Deposits Reach IDR27.85 Trillion as of August 2024

Jakarta – The Directorate General of Taxes (DGT) until August 31, 2024 recorded tax revenue from the digital economy business sector reaching Rp27.85 trillion.

Director of Counseling, Services, and Public Relations of the DGT Dwi Astuti said that the amount came from the collection of Value Added Tax (VAT) on Trading Through Electronic Systems (PMSE) amounting to IDR 22.3 trillion from 166 designated PMSE.

“The amount comes from IDR 731.4 billion in 2020 deposits, IDR 3.90 trillion in 2021 deposits, IDR 5.51 trillion in 2022 deposits, IDR 6.76 trillion in 2023 deposits, and IDR 5.39 trillion in 2024 deposits,” Dwi said in her official statement.

Meanwhile, as of August 2024, the government has appointed 176 PMSE businesses to be Value Added Tax (VAT) collectors. This number includes two appointments of PMSE VAT collectors and one correction or change in PMSE VAT collector data.

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The appointments in August 2024, namely THE World Universities Insights Limited and Cloudkeeper (Singapore) PTE. LTD. Correction in August, 2024, namely Freepik Company, S.L.

Then, also from crypto tax revenue, IDR 875.44 billion has been collected up to August 2024. The revenue comes from IDR246.45 billion of revenue in 2022, IDR220.83 billion of revenue in 2023, and IDR408.16 billion of revenue in 2024.

The crypto tax revenue consists of IDR 411.12 billion in Income Tax 22 revenue on crypto sales transactions on exchanges and IDR 464.32 billion in VAT DN revenue on crypto purchase transactions on exchanges.

Then, fintech tax (P2P lending) has also contributed Rp2.43 trillion in tax revenue until August 2024. Revenue from fintech tax comes from IDR446.39 billion of revenue in 2022, IDR1.11 trillion of revenue in 2023, and IDR872.23 billion of revenue in 2024.

The fintech tax consists of Income Tax 23 on loan interest received by WPDN and BUT amounting to IDR765.27 billion, Income Tax 26 on loan interest received by WPLN amounting to IDR354.2 billion, and DN VAT on periodic deposits amounting to IDR1.31 trillion.

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Dwi added, tax revenue on other digital economy businesses came from SIPP tax revenue. As of August 2024, revenue from SIPP tax amounted to Rp2.25 trillion.

The revenue from the SIPP tax comes from Rp402.38 billion of revenue in 2022, Rp1.12 trillion of revenue in 2023, and Rp726.41 billion of revenue in 2024. SIPP tax revenue consists of income tax of IDR152.74 billion and VAT of IDR2.09 trillion.

“In order to create fairness and a level playing field for both conventional and digital business actors, the government will continue to appoint PMSE business actors who sell products and provide digital services from abroad to consumers in Indonesia,” Dwi said.

The government will also explore other potential digital economy business tax revenues such as crypto tax on crypto asset trading transactions, fintech tax on loan interest paid by loan recipients, and SIPP tax on goods and/or services procurement transactions through the Government Procurement Information System. (*)