ACCOUNTING & CORPORATE TAX
Accounting and tax are two different things that are essential for companies and are also related to each other. Accounting itself has a big impact on companies with its main function being to prepare financial statements. The financial statements have many benefits for the company, one of which is as a consideration for the company to make decisions.
Tax is a contribution that must be paid by the company to the state based on the law. In Indonesia itself, several types of taxes are usually the obligation of the company and the regulations on these taxes are always undergoing updates.
Problems that often arise and are common, many companies that administrate their transactions are not neat and also do not separate the use of funds between the company and shareholders (company owners) making it difficult for the company to prepare financial reports. In addition, another problem that also often arises is that companies do not know the latest tax regulations which ultimately causes companies to neglect to fulfill tax obligations.
Usually, the problems that arise are not complicated to solve. Companies that have difficulty in making financial statements and experience limitations in obtaining information about the latest tax regulations can ask for assistance from accounting and tax experts to provide solutions and the latest information according to the needs of the company. Our consultants who are experts in accounting & tax with years of experience can assist you in preparing financial reports based on IFRS with the best system so you can access it anywhere and anytime. Indo-ned is the right place for you to solve problems professionally and by the latest regulations. In addition to providing solutions, we will also provide the latest information on taxation so that this can facilitate your company in planning and preventing negligence in fulfilling tax obligations.
Disclaimer
The information provided here is based on our long experience. The process or requirement may vary depending on the specific facts and conditions. Besides, the law and regulations in Indonesia subject to frequent changes. Please contact us as your consultant to get an up to date information and accurate advice. More Information click here and You can also follow our social media accounts to see the latest information posts. please click on the following links: Facebook, Instagram, Linkedin, and Twitter.
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FAQ
Corporate tax, also known as income tax, is a tax levied on the profits earned by companies operating in Indonesia. This tax applies to both domestic and foreign companies, including limited liability companies (PT), cooperatives, and permanent establishments of foreign entities.
Corporate tax returns in Indonesia must typically be filed annually within four months after the end of the company's fiscal year. Tax payments are also due within this timeframe, although companies may opt for quarterly or monthly installments for advance tax payments.
When filing corporate tax returns in Indonesia, companies need to prepare documentation such as financial statements, income and expense records, tax invoices, receipts, and any other relevant supporting documents.
Yes, companies in Indonesia may incur penalties for late or incorrect filing of corporate tax returns. These penalties may include fines, surcharges, and interest charges imposed by the tax authorities.
Yes, companies in Indonesia can engage tax consultants, accountants, or legal professionals specializing in tax matters to assist with corporate tax planning, compliance, and filing processes.
Yes, Indonesia has entered into tax treaties with various countries to prevent double taxation and promote cross-border trade and investment. These tax treaties typically provide guidelines for determining tax residency, allocating taxing rights, and providing relief from double taxation.
Indonesia generally taxes foreign-source income earned by companies operating in Indonesia, subject to certain exemptions or deductions provided under domestic law or applicable tax treaties.