Neilmaldrin Noor, a spokesperson for the Indonesian Directorate Common of Taxes, mentioned that the authority is contemplating a tax scheme for capital positive aspects generated from cryptocurrency trades, Reuters reported on Tuesday.

“You will need to know that if there’s a revenue or capital acquire generated from a transaction, the revenue is an object of revenue tax,” the official said. Noor mentioned that Indonesian taxpayers who obtain capital acquire from crypto trades must pay the tax and report it to the federal government. 

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The official famous that the brand new crypto tax scheme for capital positive aspects has not been applied and continues to be below dialogue. 

The most recent information comes weeks after Indonesia’s Commodity Futures Commerce Regulatory Company, or Bappebti, was reported to be considering a tax on all cryptocurrency transactions. As a part of the proposal, the authority reportedly deliberate to mechanically deduct the tax from transactions by 13 crypto exchanges working below Bappebti’s regulatory oversight. An government at Bappebti said that the precise tax charge had not been decided as of late April.

Indonesia’s newest crypto tax proposals observe years of a blanket ban on funds made in cryptocurrencies. The nation’s central financial institution issued a regulation banning the usage of crypto in cost programs again in 2017, outpacing comparable bans in different jurisdictions resembling Russia and Turkey.