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Frequently Asked Questions (FAQs)

Q : What is a 12% VAT adjustment?

A : The 12% VAT adjustment is a change in the Value Added Tax (VAT) rate from 11% to 12%, referring to the rules in UU No. 7 of 2021 concerning Harmonization of Tax Regulations (HPP) which is the basis for the VAT rate increase.

Q : Why is this 12% VAT adjustment made?

A : This adjustment is made to comply with changes in Indonesian tax regulations, specifically related to UU No. 7 Tahun 2021 which regulates an increase in the VAT rate from 11% to 12%. In connection with that, in the Minister of Finance Regulation (PMK) No. 131 Year 2024, the amount of crypto tax is 1% of the VAT rate multiplied by the value of crypto transactions for Crypto Asset Physical Trader (PFAK) entities, which are included in the INDODAX platform.

Q : When does this 12% VAT adjustment come into effect?

A : This change will take effect on Wednesday, January 1, 2025, at 00:00 WIB (UTC+7)*, in accordance with the applicable provisions under the published tax regulations.

Q : Who will be affected by this VAT adjustment?

A : This adjustment applies to all INDODAX members who buy and sell crypto assets, both as Maker and Taker on both Buy & Sell sides of the USDT and IDR markets.

Q : How do I view my tax details?

A : Tax details are listed in the All-in-Fees information which can be found in the Profile menu, in the Service Fee section.

Q : Did INDODAX experience an increase in trading fees with this 12% VAT adjustment?

A : No, the trading fee remains the same. However, there is an adjustment to the tax component in the all-in fees (trading fee + tax + CFX Fee) with a 12% VAT adjustment in accordance with UU No. 7 of 2021 concerning Harmonization of Tax Regulations (HPP) and Minister of Finance Regulation (PMK) No. 131 of 2024.

Q : Does the 12% VAT adjustment only apply to the IDR market?

A : The 12% VAT adjustment is applied in the tax component, as follows:

• Market IDR: Applies to the Buy side only, with the tax component changing from 0.11% to 0.12%.
• USDT Market: Applicable to both Buy and Sell sides, with the tax component changing from 0.21% to 0.22%. 

Q : Does the 12% VAT adjustment apply to all pairs?

A : Yes, the 12% VAT adjustment applies to all pairs listed on INDODAX.

Q : Is there any impact of the 12% VAT adjustment on deposits and withdrawals?

A : The 12% VAT adjustment only applies to the tax component of trading transactions.

Q : Does the 12% VAT adjustment apply to all transaction types, such as limit and market orders?

A : Yes, the 12% VAT adjustment applies to all transaction types, including limit and market orders.

Q : What if I place a limit order before January 1, 2025*, but it is only executed afterwards?

A : Limit order transactions will not be subject to the new VAT rate.

Q : What is CFX and CFX Fee?

A : CFX is a crypto asset futures exchange regulated by the government, and is dedicated to supporting the security and development of the digital asset market in Indonesia. Meanwhile, CFX Fee is a fee charged to Crypto Asset Futures Exchange Members and Crypto Asset Futures Clearing Members based on Perba No. 9/2024 and stipulated through CFX & KKI Circular Letters No. 003/SEB/CFX-KKI/X/2024 and No. 004/SEB/CFX-KKI/X/2024.

Q : Why does it have to be CFX?

A : Because, CFX as a government-regulated crypto futures exchange plays an important role in ensuring a safe and innovative crypto ecosystem in Indonesia, and INDODAX is a regulated Crypto Asset Exchange Member and Crypto Asset Clearing Member.

Q : If other exchanges distribute fees, why INDODAX doesn't?

A : INDODAX's CFX fee policy is designed to maintain transparency and reduce the cost impact for INDODAX members, by only charging fees on one side of the transaction (Buy/Sell). We will always strive to ensure this policy remains balanced and compliant with regulatory standards.

Q : Has INDODAX experienced an increase in trading fees with this CFX Fee?

A : No, the trading fee remains the same. However, there is an adjustment to the all-in fees (trading fee + tax + CFX Fee) with the addition of CFX Fee in accordance with PERBA regulation No. 9/2024 based on CFX & KKI Circular Letter No. 003/SEB/CFX-KKI/X/2024 and No. 004/SEB/CFX-KKI/X/2024.

Q : When does the CFX Fee come into effect?

A : CFX Fee will come into effect on October 31, 2024, at 23:59:59 (UTC+7).

Q : Does CFX Fee apply to all pairs?

A : Yes, the CFX Fee applies to all pairs listed on INDODAX.

Q : Why is INDODAX's current fee structure not rounded?

A : Because there is an adjustment in the form of an additional CFX fee, where the fee is included in the 11% VAT object.

Q : How do I see my CFX Fee details?

A : CFX Fee details can be seen in the Profile menu, in the Service Fee section.

Q : Is there any impact of CFX Fee on deposits and withdrawals?

A : No, CFX Fee only applies to trading transactions, not to deposits or withdrawals.

Q : Is there a minimum or maximum limit for CFX Fee?

A : No, CFX Fee is calculated proportionally based on the transaction value.

Q : Who is eligible for the additional CFX Fee?

A : CFX Fee applies to all users and transactions.

Q : Is CFX Fee only applicable in the IDR market?

A : CFX Fee applies to IDR market at 0.0222% and USDT market at 0.0444%, only on one side (Buy or Sell) of the transaction.

Q : Does CFX Fee apply to all types of transactions, such as limit and market orders?

A : Yes, CFX Fee applies to all types of transactions, including limit and market orders.

Q : Where can I see the history of CFX Fee that has been charged?

A : You can see the history of CFX Fee that has been charged in the History menu in the Mutation (Ledger) section through INDODAX website.

Q : What if I place a limit order before October 31, 2024 at 23:59:59 WIB, but the order is executed on November 1?

A : The transaction will not be subject to CFX Fee.