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The Indonesian government has issued a new regulation that formally places digital wallets within the country’s financial data reporting system. The policy clarifies that certain electronic money products are now part of national financial records, while emphasizing that the rule does not introduce new taxes for digital wallet users.

The provision is stipulated in Minister of Finance Regulation (PMK) No. 108 of 2025, which positions digital wallets as an integral component of Indonesia’s national financial system. The regulation reflects the government’s effort to adapt financial oversight to the rapid growth of cashless transactions and digital payment platforms.

According to the regulation, “Certain Electronic Money Products are products managed by Payment Service Providers that represent a digital form of fiat currency.” This definition means that digital wallets storing Indonesian rupiah and used for transactions are officially recognized as legitimate payment instruments within the formal financial framework.

As a result, data related to these digital wallet products will be included in national financial records. However, the regulation clearly states that the data collection applies at the system level, not at the level of individual daily transactions. This distinction is intended to reassure the public that routine activities—such as paying for food, transportation, or online shopping—remain unaffected.

Users can continue to use their digital wallets as usual, without additional reporting obligations or new tax liabilities. The Ministry of Finance underlined that the policy focuses on strengthening administrative oversight, improving financial transparency, and ensuring accurate national financial statistics amid the expanding use of non-cash payments.

The regulation also outlines the reporting timeline. As stated in Article 9, paragraph (9) of PMK No. 108 of 2025, financial account reports must contain information recorded for the period from January 1 to December 31 of the previous year. These reports are submitted periodically as part of the government’s broader financial data management system.

Officials stress that the rule is aligned with global trends, where governments increasingly integrate digital payment instruments into formal financial monitoring frameworks. The objective is to maintain financial stability, support policymaking, and ensure that Indonesia’s financial system keeps pace with digital innovation.

With cashless transactions becoming more common across Indonesia, the inclusion of digital wallets in financial data reporting is seen as a necessary administrative step rather than a regulatory burden on consumers. The government reiterated that the regulation is designed to support transparency and governance, while preserving public confidence in the growing digital payment ecosystem.

Source: Republika

Photo Credit: gettyimages

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