How Old Investors Sell Bitcoin Without Getting Hit With Progressive Tax

Since 2018, crypto assets such as Bitcoin have been officially recognized as tradable commodities in Indonesia.

This is regulated through the Regulation of the Minister of Trade Number 99 of 2018, which stipulates crypto assets as part of futures contracts on futures exchanges.

This regulation is the initial foundation for legal crypto trading in Indonesia.

Bitcoin Trading Before Regulation

Bitcoin began to be known in Indonesia around 2013, long before there were official regulations from the government.

For investors who already owned Bitcoin at that time, there was a special tax policy that was beneficial when they sold the assets.

Tax Rules for Old Investors

According to Oscar Darmawan, one of the founders of Indodax, investors who held Bitcoin before the official regulation came into effect can sell their assets through regulated platforms without being subject to progressive tax.

Based on information we quoted from the Beincrypto media, the requirement is that they must comply with the established tax reporting procedures.

How to Report Crypto Assets on Tax Returns

For investors who have not reported their crypto asset holdings, they can list them as cash equivalents in their Annual Tax Returns (SPT).

This step allows investors to continue to fulfill their tax obligations without being burdened with progressive rates.

Conclusion

Bitcoin investors who already owned assets before the official regulation in Indonesia can enjoy tax benefits by selling their assets without being subject to progressive rates, as long as they comply with the applicable reporting procedures.

This policy reflects the government’s efforts to support innovation in the digital financial sector while ensuring compliance with tax regulations.