Finance Minister Suahasil: Bank Transfers Not Automatically Taxable
8 Articles
8 Articles
Provisions regarding VAT on fund transfer and digital wallet services are regulated in PMK Number 69 of 2022.
The government emphasized that this policy is not a new tax, but rather a system for structuring the VAT collection system for foreign digital transactions.
Finance Minister Suahasil Nazara denied rumors that a new Value Added Tax (VAT) would be implemented on interbank transfers and digital wallets starting in 2026.
Finance Minister Suahasil Nazara emphasized that the government has never issued a new policy that automatically imposes VAT on every interbank transfer transaction or digital wallet service.
Finance Minister Suahasil Nazara emphasized that interbank transfers and e-wallet transactions are not subject to VAT. The tax only applies to certain service fees.
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