World

Indonesia’s digital economy sector generates 1.75 billion USD in tax revenue

The tax revenue from the digital economy sector in Indonesia reached 27.85 trillion IDR (1.75 billion USD) from 2022 to the end of August 2024, according to the Taxation Directorate General under the country’s Finance Ministry.

Illustrative photo ( Photo: Thejakartapost.com)
Illustrative photo ( Photo: Thejakartapost.com)

Jakarta (VNA) – The tax revenue from the digital economy sector in Indonesia reached 27.85 trillion IDR (1.75 billion USD) from 2022 to the end of August 2024, according to the Taxation Directorate General under the country’s Finance Ministry.

The revenue comes from the collection of Value Added Tax (VAT) on e-commerce or marketplaces, crypto tax, peer-to-peer lending (P2P Lending) or online loan tax, and procurement tax through the Government Procurement Information System (SIPP tax).

Director of Counseling, Services, and Public Relations Dwi Astuti said that since 2020, e-commerce VAT has deposited 22.3 trillion IDR from 166 collectors, with 5.39 trillion IDR in 2024 only.

Meanwhile, crypto tax revenues since 2022 have amounted to 875.44 billion IDR, comprising 411.12 billion IDR from income tax of crypto trade and 463.32 billion IDR of crypto VAT.

Fintech tax for online loans also contributed tax revenues of 2.43 trillion IDR between 2022 and August 2024.

Tax revenues from other digital economic businesses came from SIPP tax revenues, reaching 2.25 trillion IDR.

SIPP tax revenues consisted of 152.74 billion IDR of income tax and 2.09 trillion IDR of VAT.

According to Dwi, Indonesia will continue to tax digital business actors in order to create justice and equality between e-commerce and conventional trade.

The ministry also explores potential tax revenues from other digital economic businesses such as crypto taxes on crypto asset trading transactions, fintech taxes on loan interest paid by loan recipients, and SIPP taxes./.

VNA
#Indonesia #e-commerce #tax #VAT #P2P lending Indonesia
Follow VietnamPlus

Related News

See more

Singapore: Illegal e-cigarette market persists despite ban

Singapore: Illegal e-cigarette market persists despite ban

In a report published on May 18, the EU-ASEAN Business Council (EU-ABC) and market research firm Euromonitor International said illicit tobacco sales in Singapore, comprising mainly illicit cigarettes and e-vaporisers, resulted in an estimated 156 million SGD in lost government revenue over the same period.

Thailand tightens durian quality control

Thailand tightens durian quality control

Durian is not only a key agricultural export but also an important economic asset, contributing to incomes for farmers, exporters and the logistics sector, while promoting Thailand’s culinary image in the global market, according to Thai Minister of Agriculture and Cooperatives Suriyas Junrungreangkit.

Cambodia has been ranked the world’s leading country for natural environment in 2026 by US News & World Report. (Photo: phnompenhpost.com)

Cambodia ranked world’s top country for natural environment in 2026

Cambodia currently manages 73 protected natural areas covering more than seven million hectares, equivalent to about 41% of the country’s total land area. These protected areas play a vital role in forest conservation, wildlife habitat protection and biodiversity preservation through stricter law enforcement and conservation measures.

AI-related demand pushes Singapore exports in April

AI-related demand pushes Singapore exports in April

Singapore's exports to the US surged 59.6%, reversing a fall of 2.8% in March. Shipments to China climbed 37.8% from 20.3% the previous month and those to the European Union rose 33.4% after shrinking 12.2% in March.

Pressure on the rupiah has mounted as global oil prices surge amid Middle East tensions and developments involving Iran, increasing Indonesia’s energy import costs. (Photo: AFP/VNA)

Indonesia’s rupiah hits record low amid market turmoil

The Indonesian rupiad at one point on May 18 dropped more than 1% to around 17,668 IDR per USD, its weakest level on record. Indonesia’s benchmark stock index also plunged more than 4% after a long holiday, reflecting growing investor concerns.

Malaysian Deputy Minister of Communications Teo Nie Ching. (Photo: Bernama)

Malaysia records sharp rise in online scam losses

Teo revealed on May 16 that online scam losses in Malaysia reached 2.77 billion RM (about 700 million USD) last year, compared with 1.28 billion RM in 2023 and 1.57 billion RM in 2024. Investment scams accounted for the largest share of the losses.

Scientists discover largest dinosaur species ever found in Thailand

Scientists discover largest dinosaur species ever found in Thailand

According to the researchers, Nagatitan Chaiyaphumensis belonged to the Titanosauridae family, a group of herbivorous dinosaurs characterised by their long necks and tails. The species is estimated to have measured between 27 and 30 metres in length and weighed more than 26 tonnes.

Cambodia lowers 2026 economic growth forecast to 4.2%

Cambodia lowers 2026 economic growth forecast to 4.2%

According to the medium-term fiscal framework for 2027-2029 recently published by Cambodian Prime Minister Hun Manet, Cambodia is navigating a transition against a backdrop of protracted global crises, including rising protectionism, trade wars, geopolitical and geo-economic tensions, and increasingly severe impacts of climate change and natural disasters as well.

Thailand enters 2026 rainy season

Thailand enters 2026 rainy season

According to forecasts by the Thai Meteorological Department (TMD), Thailand entered the rainy season, after key meteorological conditions met the criteria for the start of the season.

Agriculture Minister Andi Amran Sulaiman (second from the right) checked the Bulog's rental warehouse in the Romokalisari Warehouse Complex, Surabaya, East Java on May 13, 2026. (Photo: Antara)

Indonesia records highest-ever rice reserves

The figure marks the highest level of rice stocks in Indonesia’s history as the country steps up policies aimed at boosting agricultural output and strengthening national food security.

Philippines warns of power cuts as heat strains grids

Philippines warns of power cuts as heat strains grids

The National Grid Corporation of the Philippines (NGCP) issued a red alert, warning of potential outages of up to seven hours in 32 areas across the Visayas grid, and hour-long outages in nine areas across Luzon, including the capital Manila.