Bitcoin is rejected, but still taxable

The government has not one voice in response to the phenomenon of the virtual currency (cryptocurrency) Bitcoin and Ethereum.

Bank Indonesia (BI), as the monetary regulator in Indonesia, will ban Bitcoin buying as a means of payment starting 2018. This ban will be poured through the BI Regulation (PBI) in the near future.

Senior Deputy Governor of BI Mirza Adityaswara explained, Bitcoin and other cryptocurrency is not a valid means of payment and not recognized by BI. So it should not be used for payment transactions.

Bitcoin's soaring value of up to 14,500 percent is inevitably a magnet for investors.

According to Bitcoin Indonesia CEO Oscar Darmawan, last September, Bitcoin Indonesia's marketplace has 450 thousand registered members. Next year, it is predicted there are 500 thousand.

As a means of investment, Oscar called Bitcoin Like gold. But Bitcoin has its advantages. More liquid, less transactional costs, and unaffected by the publication of any company.

Because it is one of the investment tools, the Ministry of Finance asks Bitcoin owners to keep reporting Bitcoin's ownership as a treasure.

Director of Counseling, Services and Public Relations at the Directorate General of Taxes Hestu Yoga Saksama, the taxpayer must include Bitcoin's ownership in the property column of its annual SPT.

If not include, then the property is found by the tax officer then the taxpayer can be threatened sanctions in the form of fines. "Yes (threatened with sanctions), both income earned and treasures worth Bitcoin acquisition price reported in annual SPT," said Yoga to Katadata, Tuesday (05/12/2017).

Yoga confirms the profit from the sale and purchase or investment Bitcoin is also a taxable income. "If in transactions selling / buying or investing bitcoin there is a profit, then it is income taxed (PPh)," said

Since the system is self-assessed, the taxpayer must report the income in the annual tax returns (SPT) and pay the tax.