PMK 68/2022 Explained: Indonesia's Crypto Tax Law in Plain English

A plain-English breakdown of Indonesia's crypto tax regulation under PMK 50/2025. Who it applies to, what gets taxed, and what you need to do before your next SPT filing.

PMK 68/2022 Explained: Indonesia’s Crypto Tax Law in Plain English

If you hold, trade, or receive cryptocurrency in Indonesia, Indonesian tax law applies to you. It does not matter whether you are an Indonesian citizen or a foreign national living in Bali. It does not matter whether you use a local exchange like Indodax or an international platform like Binance or Coinbase. If you are tax-resident in Indonesia and you have crypto activity, this regulation governs how that activity is taxed.

This article breaks down what the current framework actually says, what changed when PMK 50/2025 came into effect in August 2025, and what your obligations are right now.

What Is PMK 68/2022 — and Why It Matters for History?

PMK 68/PMK.03/2022 was the Indonesian Ministry of Finance regulation that formally established the tax treatment of crypto assets from May 2022. It created the first comprehensive framework for:

Before PMK 68/2022, crypto gains were technically taxable under general income tax principles but there was no specific mechanism for collection or reporting. PMK 68/2022 changed that by creating a formal withholding and self-reporting framework.

PMK 68/2022 was superseded by PMK 50/2025, effective August 1, 2025. If you have activity before that date, PMK 68/2022 rates apply to that period. If you have activity from August 2025 onward, PMK 50/2025 rates apply.

The Current Framework: PMK 50/2025

PMK 50/2025 made a significant structural change to how crypto assets are classified under Indonesian law. Crypto assets were reclassified from taxable goods (barang kena pajak) to digital financial assets — a classification more analogous to securities.

The key practical changes under PMK 50/2025:

The Two-Rate System: Registered vs Unregistered Exchanges

The most important practical distinction is between registered and unregistered exchanges — and the income tax rates that apply to each.

Registered exchanges are those formally listed with Indonesian regulatory authorities (OJK). Indodax and Tokocrypto are the primary examples. When you trade on a registered exchange, the platform withholds tax on your behalf automatically:

This is a final tax — the exchange collects it automatically, and you generally do not need to calculate it separately. You still need to report the activity on your annual SPT, but the tax itself has already been paid.

Unregistered exchanges are international platforms not registered with Indonesian authorities — Binance, Coinbase, Kraken, and most other global exchanges fall into this category. When you trade on an unregistered exchange, no tax is withheld automatically. The rate is higher, and the obligation to calculate, report, and pay shifts entirely to you:

This is where most expats and international traders in Indonesia are exposed. The absence of automatic withholding does not mean the absence of a reporting obligation.

What Were the Old Rates Under PMK 68/2022?

For activity prior to August 1, 2025, the rates under PMK 68/2022 were:

If you are reconciling historical activity across multiple years, you will need to apply the correct rate for the correct period. Pre-August 2025 activity uses PMK 68/2022 rates. Post-August 2025 activity uses PMK 50/2025 rates.

What Counts as a Taxable Event?

Under the current framework, taxable events include:

Sale of crypto for fiat — selling Bitcoin, Ethereum, or any other crypto asset for Indonesian Rupiah or any other fiat currency is a taxable transaction.

Crypto-to-crypto swaps — exchanging one crypto asset for another is treated as a taxable disposal of the first asset for PPh purposes. Note that the VAT obligation on swaps was removed under PMK 50/2025, but the income tax obligation remains.

Receipt of crypto as income — if you receive cryptocurrency as payment for services, as a salary, or as freelance income, that receipt is taxable as ordinary income at the market value on the date of receipt.

Mining and staking rewards — rewards received from mining or staking activity are treated as income at the fair market value on the date they are received.

What is generally not a taxable event: transferring crypto between your own wallets, or simply holding crypto without a disposal or income event.

Your SPT Reporting Obligations

Regardless of which exchange you use, your crypto activity must be reported on your annual SPT (Surat Pemberitahuan Tahunan — annual tax return). The filing deadline is March 31 each year.

For registered exchange activity, this primarily means declaring the assets held and the transactions processed. The tax has already been withheld, so your SPT reflects the activity rather than generating an additional liability.

For unregistered exchange activity, the SPT process is more involved. You are required to:

  1. Calculate the total transaction value across all unregistered exchanges for the tax year
  2. Apply the applicable PPh rate (1.0% under PMK 50/2025 for activity from August 2025 onward)
  3. Declare and pay the resulting liability
  4. Maintain records of all transactions in case of audit

This is where transaction reconciliation becomes essential. If you have traded on Binance, Coinbase, Kraken, or any other international exchange over multiple years without reporting, your exposure is cumulative — not just for the current year.

What Happens If You Have Not Been Reporting?

The Indonesian tax authority (DJP) has significantly increased its visibility into crypto activity following the transfer of exchange oversight to OJK. Exchanges are now required to report transaction data, and DJP has access to cross-border financial information through bilateral tax information exchange agreements.

If you have unreported crypto activity, you have options. Indonesia’s voluntary disclosure framework allows taxpayers to come forward and regularize their position, typically at reduced penalty rates compared to what applies if DJP identifies the exposure first.

The cost of voluntary disclosure is almost always lower than the cost of an audit finding. The earlier you act, the more options you have.

Where to Start

If you are unsure of your current position — whether you have reporting obligations, what your exposure might be, or how to reconstruct transaction histories across multiple exchanges — a Compliance Health Check is the right starting point.

A Health Check reviews your exchange activity, identifies your obligations under the current framework, and gives you a clear picture of where you stand before your next SPT filing.

Book a Compliance Health Check — Rp 6.500.000

Crypto Tax Indonesia provides reconciliation and advisory services for crypto asset tax compliance in Indonesia. Formal SPT filing is handled through our licensed BKP-certified partner. This article is for informational purposes only and does not constitute formal tax advice.