INFORMATION : PPN 12% Adjustment

Hello, INDODAX Members,

In alignment with UU No. 7 of 2021 concerning Harmonization of Tax Regulations (HPP) and PMK No. 81 of 2024, INDODAX will implement an adjustment to the 12% VAT rate. INDODAX will implement a 12% VAT adjustment, which will affect the total transaction fees (all-in-fee) for buying and selling crypto assets on INDODAX. This includes trading fees, taxes, and CFX fees.

The implementation of the 12% VAT adjustment will be effective as of Wednesday, January 1st, 2025, at 00:00 WIB (UTC+7) and will apply to all trading pairs in the IDR and USDT markets listed on INDODAX.

The 12% VAT adjustment applies to the Tax component:

• Market IDR: Applies only to the Buy side, with the tax component adjusted from 0.11% to 0.12%.
• Market USDT: Applies to both Buy and Sell sides, with the tax component adjusted from 0.21% to 0.22%.

Additionally, the 12% VAT also impacts the CFX Fee:

• Market IDR: An adjustment of 0.0002% has been made to the CFX Fee, updating it from 0.0222% to 0.0224% for both Buy and Sell sides.
• Market USDT: An adjustment of 0.0004% has been made to the CFX Fee, updating it from 0.0444% to 0.0448% for both Buy and Sell sides.

Here’s the details of the 12% VAT adjustment in the IDR and USDT market:

Here’s how to view the details of the all-in-fee from 12% VAT adjustment on the INDODAX website:

1. Go to Menu dropdown on the upper right side
2. Click Profile & Setting
3. A Transaction Information section will appear with the Service Fee breakdown that shows trading fee, tax, and CFX fee details
   

Here’s how to view the details of the all-in-fee from 12% VAT adjustment on the INDODAX mobile app with Pro or Lite mode: 

1. Go to Profile menu on the upper right side
2. Click Personal Settings and Click See Details on Service Fees section
   
3. The Service Fee breakdown will appear that shows trading fee, tax, and CFX fee details
   

Notes: INDODAX will implement the 12% VAT rate in accordance with the previous official information from the government.
If, after this implementation, there are future tax regulations stating that crypto asset transactions remain subject to an 11% VAT rate, the VAT difference will be adjusted, and a refund mechanism will be applied to members.

For further questions and information, please contact INDODAX Customer Support via email at [email protected] or through the phone number (021) 50658888.

Best regards,
INDODAX – Indonesia Bitcoin & Crypto Exchange.