I have always said it, if the whole world governments used their money carefully and efficiently, there would be 10% tax on income for the whole world and NO other tax ever again, that’s it, just 10% income tax and nothing else. I know that sounds silly and most people keep saying "how would you pay THIS, and how you pay THAT", but the reality is that all those things do not have to be that expensive.
Like for example in USA, people do not have public insurance, right? We all know that is a big big big topic, and been a topic for many years, and the response is always "how do you plan to pay 100 gazillion dollars a year for it" or something, number is of course more "realistic", in any case, if your insulin costs 300 bucks a month then yes you can't have free healthcare, why do you think it costs 2 bucks here where I live? So just cap everything from healthcare incomes and you will have less than 1 trillion dollars a year, which is nearly what they spend on military. Simply do not put it on guns and put it on health and you are done.
Topic: Indonesia's 0% Tax on foreigners and digital nomads (Read 361 times)
this is quite good because they are one of the beautiful countries but it is a pity that they are currently still quite behind from other countries in asia.
but maybe with this they will make something interesting to look at in the future, in this way at least they can make an attraction for them to be able to attract both tourists and investors to be there.
on the other hand this is also a pretty good one for crypto because they continue to grow and continue to be recognized.
For the interlude btw what you say I think is quite true, they are still lagging behind in the internet network in some areas
but maybe with this they will make something interesting to look at in the future, in this way at least they can make an attraction for them to be able to attract both tourists and investors to be there.
on the other hand this is also a pretty good one for crypto because they continue to grow and continue to be recognized.
For the interlude btw what you say I think is quite true, they are still lagging behind in the internet network in some areas
How will the government sustain the economy with a 0% tax! This is not feasible in the long run, eventually, it will change, perhaps at this time, they will try to attract investors with this tempting offer, who wouldn't want to be in a country with 0% tax!
Don't worry!! The Indonesian government taxing their own citizen like crazy Anyway, I don't think the information about 0% tax is accurate, you know, terms and conditions applied...
Quote
Suppose you spend more than 183 days per year physically in Bali. As a foreign digital nomad, you are considered a tax resident in Indonesia and should report your global income in Indonesia.
https://emerhub.com/bali/do-digital-nomads-in-bali-need-to-pay-taxes/The problem is, we have a self-reporting/evaluating tax system where you can lie about your income, since you are the one who creates the report/accounting. Only honest people report their tax in Indonesia, that's why Indonesia's income tax revenue is so below target.
0% tax, or as the rich and the multinational companies would call it, tax heaven 
Nothing new here, but a good move on Indonesia's part. They will have an influx of wealthy people and companies doing business from there. Not sure if we would really want to lump crypto into this. I might be wrong but it may not be the best look? Maybe?
This tax haven is a trap for us but can only be said to be a sweet trap to jump into, Indonesia is giving companies the opportunity to become part of the country but in return, except for tax benefits, it's just an empty piece of land and there's not much more facilities available, investors who want to build will need capital and coincidentally, we are enriching this country. Of course, foreigners and companies that need to branch here will also benefit and have closer access to customers in this locality, so that can explain our investment is already our best tax for them, no need to add another tax cost Nothing new here, but a good move on Indonesia's part. They will have an influx of wealthy people and companies doing business from there. Not sure if we would really want to lump crypto into this. I might be wrong but it may not be the best look? Maybe? 
Seems like Indonesia just found a way to attract "the money" into their country. Not yet sure what this entails but I suspect Crypto users may still get taxed. What Indonesia needs to do now is upgrade their Internet infrastructure so that digital nomads and crypto traders can settle there.
This is right step to attract foreign investment and I appreciate efforts of government to allow crypto exchanges to work in their country. Idonesia recently made headlines in the crypto space when the government revealed its plans to introduce a crypto tax for traders which is good for crypto community in the long because it takes away feat of crypto Banning . Indonesia is also home to several crypto exchanges, including Indodax and the Binance-backed platform Tokocrypto.
https://coinmarketcap.com/alexandria/article/cryptocurrency-in-indonesia
But they have to pay taxes to their countries right so investors may use this money into the Indonesia only if they want to enjoy the tax free but already El Salvador proposed this idea in their crypto city project but I don't think it will make huge difference into the economy especially for a country like Indonesia.
Who wouldn't want to live near a Volcano ? 
But seriously, I think their Internet speeds are some of the worst in Asia..
But seriously, I think their Internet speeds are some of the worst in Asia..100% true, sometimes emotions are made with an inadequate system of cs for complaints, not to mention the costs are quite high and do not match what you get
0% tax, or as the rich and the multinational companies would call it, tax heaven Nothing new here, but a good move on Indonesia's part. They will have an influx of wealthy people and companies doing business from there. Not sure if we would really want to lump crypto into this. I might be wrong but it may not be the best look? Maybe?
Nothing new here, but a good move on Indonesia's part. They will have an influx of wealthy people and companies doing business from there. Not sure if we would really want to lump crypto into this. I might be wrong but it may not be the best look? Maybe? 
Interesting for foreigners, I'm not happy to hear this, because local people still have difficulty getting income. So that more and more foreigners will come to stay and work, the more competition will be tightened.
Digital nomads are stock market traders, investors, youtubers, those with internet based income. They won't compete for local jobs. All their income is internet derived which makes their source of income flexible enough to where travel and relocating across different countries becomes much easier.
Every smart political leader should be focused in introducing this kind of measure to attract receipt for their country in order to boost the local economy and life quality of the people. Digital nomads are going to become more popular from now on, especially after the pandemic where many people got used to work from home and also because internet quality access is becoming a reality even in poor places where it used to be precarious in the past.
yeah, you are right. bad internet doesnt mean cant do anything, you can do what you want although with the worst speed in Asia.
tax for crypto will be launched, but i dont know when, because they need to learn more about this. the last news i know is 0.003%, i think this is for user, cmiiw.
I'm Indonesian and live there. To date, the crypto tax is still unclear. There are no official rules through the law. So if you currently call it 0% it's probably natural. Many government discourses to increase the source of state income one of them through crypto taxes. But many problems because of limited technology and SDA certainly need a long process because it is done so as not to harm its citizens. But if crypto actors establish as income then it will come in which is taxed at each time of tax reporting. tax for crypto will be launched, but i dont know when, because they need to learn more about this. the last news i know is 0.003%, i think this is for user, cmiiw.
Seems like Indonesia just found a way to attract "the money" into their country. Not yet sure what this entails but I suspect Crypto users may still get taxed. What Indonesia needs to do now is upgrade their Internet infrastructure so that digital nomads and crypto traders can settle there.
I am not sure about Indonesia. Some time ago, I heard that Bitcoin traders were arrested there. A lot of people from my country visit Indonesia every year, because Indians don't need visa for short stays (compared to countries like Thailand, where there is visa on arrival system). Also I have heard that they have very strict rules against use of cannabis and other soft-drugs. On the plus side, the cost of living seems to be extremely low and the local food is legendary. Unless you land on the wrong side of the law, things should be fine.
One among many countries offering now incentives to high earning individuals. Yet it takes more than a good fiscal deal to attract that type of people and talent. Indonesia must have a certain profile in mind that they are trying to bring over or actually retain. I wonder if there are some areas in the country where there is a good lifestyle that would suit a high earning Asian youtuber to move over. I am sure people in Oceania will not be immediately attracted to a country that is more geographical than ethnic or cultural. Is Java a good place to live?
Looks as if indonesia is following in the footsteps of el salvador, the philippines and vanuatu. Nice tropical places with low average cost of living can offer crypto HODLers lower rent and monthly expenditures on top of tax benefits and anti crypto regulation.
Interestingly enough, I seem to remember the philippines announcing 0% cryptocurrency taxes years ago. Although news stories and articles on this topic are difficult to find. I think there are no taxes for crypto there unless its converted to fiat.
Digital nomads are stock market traders, investors, youtubers, those with internet based income. They won't compete for local jobs. All their income is internet derived which makes their source of income flexible enough to where travel and relocating across different countries becomes much easier.
Interestingly enough, I seem to remember the philippines announcing 0% cryptocurrency taxes years ago. Although news stories and articles on this topic are difficult to find. I think there are no taxes for crypto there unless its converted to fiat.
Interesting for foreigners, I'm not happy to hear this, because local people still have difficulty getting income. So that more and more foreigners will come to stay and work, the more competition will be tightened.
Digital nomads are stock market traders, investors, youtubers, those with internet based income. They won't compete for local jobs. All their income is internet derived which makes their source of income flexible enough to where travel and relocating across different countries becomes much easier.
The good thing about Indonesia is they are doing to attract more money and more businessmen into their country their government is now trying to do some adoption and switch from having a tax-based economy. Actually, the adoption is happening in all these countries but unfortunately, the countries with the strong economic system will not accept such thing because their whole economic system is based on the tax they get from people, so this would be completely normal to see many important and successful businessmen move the other countries such as Indonesia soon in a few years which can make this country more power economically.
Indonesia does provide visa on entry and their visa process is not too difficult therefore at the end of the day I do think that, it would be a nice idea only if people try and use the volcanic power, which would inturn make it a new renewal source of energy, which can be used by miners, at the end of the day it is important to have sustainable environment as well.
The government lists it as a *trading commodity* therefore there is still a long way to go since, they have to make it legal first, it's a beautiful country and I do think many people would like to start their new crypto friendly life there if the government approves, please stop spreading things like *who wouldn't wanna live near a volcano* plus internet speeds can always be upgraded.
As is the case in the country of El Salvador which utilizes the power of volcanic mountains to be used as bitcoin mining energy. But the difference is only in regulation and Indonesia is still a beautiful country and a world tourist destination.The government lists it as a *trading commodity* therefore there is still a long way to go since, they have to make it legal first, it's a beautiful country and I do think many people would like to start their new crypto friendly life there if the government approves, please stop spreading things like *who wouldn't wanna live near a volcano* plus internet speeds can always be upgraded.
Crypto regulations which are only limited to trading commodities are also very strict, the Indonesian government gives taxes to crypto exchange companies and the taxes are also large. For the imposition of taxes on crypto users there is still no clarity, because of course it will require a long audit to screen crypto users and non users.
The legal status of crypto in Indonesia still seems impossible, due to very strict regulations to date.
Indonesia does provide visa on entry and their visa process is not too difficult therefore at the end of the day I do think that, it would be a nice idea only if people try and use the volcanic power, which would inturn make it a new renewal source of energy, which can be used by miners, at the end of the day it is important to have sustainable environment as well.
The government lists it as a *trading commodity* therefore there is still a long way to go since, they have to make it legal first, it's a beautiful country and I do think many people would like to start their new crypto friendly life there if the government approves, please stop spreading things like *who wouldn't wanna live near a volcano* plus internet speeds can always be upgraded.
The government lists it as a *trading commodity* therefore there is still a long way to go since, they have to make it legal first, it's a beautiful country and I do think many people would like to start their new crypto friendly life there if the government approves, please stop spreading things like *who wouldn't wanna live near a volcano* plus internet speeds can always be upgraded.
Who wouldn't want to live near a Volcano ? But seriously, I think their Internet speeds are some of the worst in Asia..
But seriously, I think their Internet speeds are some of the worst in Asia..yeah, you are right. bad internet doesnt mean cant do anything, you can do what you want although with the worst speed in Asia.
tax for crypto will be launched, but i dont know when, because they need to learn more about this. the last news i know is 0.003%, i think this is for user, cmiiw.
I'm having trouble understanding what this has to do with bitcoin? I don't click on any link and I also didn't bother searching google about this news, so someone explain to me what this OP title has to do with bitcoin? where does bitcoin fit in?
Why didn't you take a few minutes and watch the video above a few posts - or read my post where I quote the most important things?
You may even be right when you wonder if all this has to do something with Bitcoin, but it makes sense to assume that some of the digital nomads might be involved in, say, Bitcoin trading - and if the tax were 0%, then it might be interesting for some people who live that way of life.
care to put some links ? where did you get that idea ? if there is one then best to Put it here.
How about reading something more than a title and a first post for a change? If the OP didn’t set up the link, someone else might have done it. If the OP put a link in their local language, it would surely be a new excuse for you to object...
Seems like Indonesia just found a way to attract "the money" into their country. Not yet sure what this entails but I suspect Crypto users may still get taxed. What Indonesia needs to do now is upgrade their Internet infrastructure so that digital nomads and crypto traders can settle there.
care to put some links ? where did you get that idea ? if there is one then best to Put it here.and about taxation in cryptocurrency users? Indonesia is still has no concrete law towards or against crypto so it will always Imply that Crypto users are not exempted on this law(if it is true)
Interesting for foreigners, I'm not happy to hear this, because local people still have difficulty getting income. So that more and more foreigners will come to stay and work, the more competition will be tightened.
Lol foreigners will Work? maybe you mean conduct Business and that is favoring people in your place because there will be more employment that will be available .I found links that you can check and watch -
YT - https://www.youtube.com/watch?v=TQWQRpZFvYg
[NEW 0% Tax in Bali-Indonesia for Digital Nomads & Foreigners] - I believe the OP got the idea from this video.
But you can also read this article -
https://thinkremote.com/bali-5-year-visa-for-digital-nomads/
This will indeed attract more tourists, and it means, it will be good for their economy.
As this country has low cost of living, this will be another attraction from foreigners who want to live a laid back lifestyle.
Enjoying their life while not being stressed with high cost of living as well as high taxes.
Seems like Indonesia just found a way to attract "the money" into their country. Not yet sure what this entails but I suspect Crypto users may still get taxed. What Indonesia needs to do now is upgrade their Internet infrastructure so that digital nomads and crypto traders can settle there.
care to put some links ? where did you get that idea ? if there is one then best to Put it here.and about taxation in cryptocurrency users? Indonesia is still has no concrete law towards or against crypto so it will always Imply that Crypto users are not exempted on this law(if it is true)
Interesting for foreigners, I'm not happy to hear this, because local people still have difficulty getting income. So that more and more foreigners will come to stay and work, the more competition will be tightened.
Lol foreigners will Work? maybe you mean conduct Business and that is favoring people in your place because there will be more employment that will be available . Jump to: