Cekindo Business International is now InCorp Indonesia. Learn more.
InCorp offers a comprehensive range of solutions to ease the company registration process and help you create a viable roadmap for your business.
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Get assistance from experts with a decade of experience in assisting international business owners expanding into Indonesia.
Avoid any bureaucratic complexity when closing your company by engaging with our experienced legal advisors.
What type of legal entities should you choose to register a company in Indonesia? We can assist you in choosing which is the best one to grow your business.
To help businesses survive during this unfortunate time, InCorp provides corporate recovery in Indonesia and insolvency services.
Obtaining property & land ownership in Indonesia offers some challenges for foreigners. However, buying property in Indonesia is attainable with specific resources and documents.
Recent regulatory changes have a knock-on effect on Indonesia's Merger & Acquisition landscape. Check on how we can navigate you through your M&A in Indonesia.
InCorp provides Virtual Office services Indonesia in various locations: Jakarta, Bali, Semarang, Surabaya, and Batam.
Business process outsourcing in Indonesia is a viable option to streamline bureaucratic complexities that hurdle your business expansion objectives.
InCorp offers a complete range of accounting service Indonesia, from tax reporting to auditing.
With professional financial audit services from InCorp, you can ensure all accounting activities are accurately recorded and compliant with Indonesian regulations.
Using an Employer of Record service to set your roots in Indonesia opens the doors to new opportunities in the country.
Financial and Operational Resilience services from InCorp are developed to support businesses and help them survive during this difficult time.
Payroll services in Indonesia are a practical solution to avoid unnecessary complexities while you focus on growing your business.
Using a recruitment agency in Indonesia will help you hire the best candidates for your company, saving you time and money.
Tax consulting in Indonesia are the shortcuts to fulfill the administrative obligations with high accuracy and in a timely manner.
The Indonesian government promotes tax holidays as one of the fiscal incentives to attract major foreign direct investment in Indonesia.
Operating businesses in Indonesia, entrepreneurs must comply with the regulations accordingly, especially concerning taxes.
Immigration in Indonesia is one of the strictest and most complex processes due to its ever-changing regulations. InCorp provides a seamless experience in obtaining your stay and work permits.
Avoid any hassles by engaging with an experienced visa agent in Indonesia.
A dependent visa Indonesia is a document that allows foreigners to bring their family while settling down in the country.
Investor KITAS Indonesia is a stay permit that offers many benefits to investors that invest in the country.
Overseas Visas are required for Indonesians who are planning to stay abroad for an extended period of time.
KITAP is a permanent stay visa for foreigners who have intentions to stay in Indonesia.
Foreign retirees often find their plans stuck due to the complex visa application process. InCorp helps expedite the process.
Obtaining a social visa is daunting if you are not familiar with the country’s complex bureaucratic processes. Consult with us for a seamless Indonesian visa application experience.
Foreigners married to an Indonesian citizen are eligible for a spouse-sponsored KITAS.
Learn how to obtain an Indonesian tourist visa seamlessly and securely, directly from a trusted visa and travel agent.
Get assistance from a trusted visa agent in Indonesia to make your traveling plan to Indonesia even more convenient.
Expedite your Indonesian work permit application process by engaging with a trusted visa agent.
All imported goods must obtain permission granted by specific governing bodies prior to entering the local market.
Learn more about the cosmetic product registration services in Indonesia.
Learn more about exporting goods to Indonesia.
Learn more about the food & beverage product registration services in Indonesia
Learn how to go through halal certification in Indonesia directly from experts successfully.
Learn more about the health supplement product registration services in Indonesia.
Learn more about the household product registration services in Indonesia.
Learn more about importing goods from Indonesia
An Importer of Record in Indonesia is a legal service that enables companies to import products into Indonesia, through an import partner.
Learn more about the medical device registration services in Indonesia.
Register a trademark is necessary to avoid legal issues in the future. InCorp can help you with Trademark Registration services in Indonesia.
Compliance is one of the most challenging parts of business overseas, especially in a country packed with complex bureaucratic processes such as Indonesia.
Updating business documents to align with your company’s growth can be a hassle.
Due Diligence services are needed to assess the credibility of the company or partner you wish to work with or acquire in Indonesia
From Company Regulations to Employment Agreement Drafting, Employment law services from InCorp will help you to compliance with employment policy in Indonesia.
InCorp’s legal consultation services in Indonesia are crafted to help your business settle and fully comply with the latest regulations.
Organizations must continuously evolve and transform to remain competitive and relevant in today’s global environment ...
Companies face many opportunities and challenges as a result of a changing market and regulatory landscape ...
Adopting Environmental, Social, and Corporate Governance (ESG) practices can improve your company’s value ...
Risk Management services from InCorp Indonesia can assist companies in building confidence when making future business decisions ...
Transfer Pricing in Indonesia occurs when a company performs an internal transaction within the same business group or its subsidiaries
InCorp's transfer pricing advisory services in Indonesia are marked by the objective to support our clients' business needs.
Our transfer pricing services provide you with a hassle-free experience while still complying with the legal aspects of transfer pricing in Indonesia.
As the market-entry consulting firm in Indonesia, InCorp provides a wide range of customized solutions to ease the business incorporation process.
Both natural and legal persons are entitled to open a bank account in Indonesia. Find out how to open a bank account in Indonesia, here.
InCorp can help you find a trusted Buying Agent Indonesia for product sourcing in Indonesia. Contact us now for a free consultation.
InCorp can help foreigners to get the driving license in Indonesia, whether SIM A or SIM C. Check out the requirements and the procedure, here.
IMEI Registration in Indonesia is necessary to ensure telecommunication devices from abroad can function properly in Indonesia.
With offices in Jakarta, Bali, Semarang, SUrabaya, and Batam, InCorp is ready to assist you as a local partner and distributor in Indonesia.
InCorp can help you to select the trusted local partners to import and distribute your products in Indonesia.
Improve your business by knowing the market conditions in Indonesia through market research services in Indonesia.
InCorp can help you gain information about your competitor's product through mystery shopping.
Whether you are a small business, a large corporation, or a business professional in Indonesia, there are accounting, tax and bookkeeping terms you must know.
Accounting, tax, and bookkeeping are such crucial parts of any business in Indonesia, and it is always a good idea to have an understanding of the basic terms. No matter if you outsource these services or your business finances are working on it by themselves.
1. Accounts Payable An account is used to keep track of all customer sales, and the sales amounts are owed to a business.
2. Accounts Receivable An account is used to keep track of all outstanding payments owed by a business to its suppliers, consultants, contractors, and other companies or individuals.
3. Annual Gross Income It is the total income earned over 12 months before any taxes. The total income includes bonuses, salaries, commissions, any tips, and part-time incomes, etc.
4. Annual Tax Report It is a report filed by an entity with the tax authority in Indonesia with information used to calculate taxes such as income tax.
In 2019, the reporting deadlines for annual personal income tax and annual corporate income tax are set on 31st March and 30th April respectively.
5. Balance Sheet A financial statement that shows a business’s financial position at a specified time by outlining its equity, assets and liabilities.
6. Cash Flow A process of how much money is coming into and going out of business.
7. Corporate Income Tax A tax imposed on a legal entity or permanent establishment in Indonesia. A tax rate of 25% often applies to corporate income tax in Indonesia.
Public companies with at least 40 percent of their shares traded on the Indonesia Stock Exchange are subject to a 20% tax rate; small companies with an annual turnover of less than 50 billion IDR and 4,8 billion IDR are taxed at rates of 12,5% and 1% respectively.
Get to know more in our previous article about Corporate tax and personal income tax in Indonesia
8. Double Taxation Agreement Treaties to avoid double taxation in associated countries.
Indonesia has signed several agreements that enable foreign companies that present the Certificate of Domicile to receive reduced tariffs of taxes.
9. Fiscal Year A fiscal year in Indonesia is the calendar year from 1st January until 31st December.
Save our 2021 compliance calendar below and do not miss any deadlines and tax obligations in Indonesia.
10. General Ledger A primary account record of business with double-entry bookkeeping that summarises all transactions or accounts within an entity.
11. Gross Profit It is the net sales minus the cost of goods or services sold.
12. Income Statement One of the most important financial statements to report a business performance such as business profitability over a specified period of time. It is also known as a profit and loss statement.
13. Individual Income Tax (Personal Income Tax) A tax is imposed on individuals (taxpayers) according to their respective income and tax rate.
In Indonesia the progressive tax rates apply to both local and foreign tax residents based on their income:
14. Net of Tax Also known as after-tax, the net of tax is a final amount after all taxes have been deducted from the initial amount.
15. Tax Deductions Expenditures that can be deducted from the gross income. Tax deductions are able to reduce the amount subject to income tax and thus reduce the tax due.
16. Tax Exemption An amount that taxpayers are allowed to subtract from their taxable income. More tax exemptions mean lower tax due.
17. Tax Identification Number (TIN) Also known as Nomor Pokok Wajib Pajak (NPWP), which is very important for bookkeeping in Indonesia. It is a number given to every taxpayer for identification for them to carry out their tax rights and obligations.
18. Tax Liabilities The total amount of tax due owed by an entity or an individual to the tax authority in Indonesia – an amount that a taxpayer is responsible for paying.
19. Tax Residents An individual who stays and works in Indonesia for more than 183 days in 12 months is a tax resident who is required to pay taxes in accordance with Indonesian Tax Law.
Are you an Australian living in Indonesia? You should read our Overview of Tax Obligations for Australian Expats Living in Bali
20. Tax Return Tax return in Indonesia is filed submitted to the tax authority, allowing taxpayers to calculate their tax liability, request tax refund, and schedule tax payment.
Continue reading: 21 Must-Know Facts about Annual Tax Return in Indonesia
21. Tax Review A process is done by a tax consultant to make sure the tax reporting complies with the tax law in Indonesia.
22. Value-Added Tax (VAT) It is an indirect tax imposed on the sale of most goods and services. In Indonesia, it has a flat rate of 10 percent.
23. Withholding Tax An amount withheld by an employer on income earned by an employee and paid directly to the government. This tax also applies to other types of payments besides salary.
The rates of withholding taxes vary based on their types and kinds of recipients.
In case of any doubts, contact your accounting, tax, and bookkeeping advisor in Indonesia — Cekindo. We not only offer outsourcing services but face-to-face consultancies in Jakarta, Semarang, and Bali.
With more than 10 years of expertise in accounting and finance, Daris Salam dedicates his knowledge to consistently improving the performance of InCorp Indonesia and maintaining clients and partnerships.
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