Indonesia's Ministry of Finance has issued Regulation No. 68/PMK.03/2022 and Regulation No. 69/PMK.03/2022, which provide new VAT and income tax rules for crypto assets and financial technology (fintech) operations, respectively.

Crypto Assets

Regulation No. 68/PMK.03/2022 provides that with effect from 1 May 2022, supplies of the following goods and services are subject to VAT:

• Intangibl…