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InCorp offers a comprehensive range of solutions to ease the company registration process and help you create a viable roadmap for your business.
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.
Granting an environmental permit in Indonesia needs an Environmental Impact Analysis (AMDAL) in advance.
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 todays 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 operate a small business, a large corporation, or are a business professional in Indonesia, having a grasp of accounting, tax, and bookkeeping terminology is essential. These aspects form the foundation of any business in Indonesia.
It is essential to familiarize yourself with the basic terms, regardless of whether you outsource these services or handle your business finances in-house.
Accounts payable refer to the records maintained to track customer sales and the outstanding amounts owed to a business.
Accounts receivable refer to the records maintained to track outstanding payments owed by a business to its suppliers, consultants, contractors, and other entities or individuals.
Annual gross income represents the total earnings generated for 12 months before any tax deductions. This includes bonuses, salaries, commissions, tips, part-time incomes, and other sources of revenue.
The annual tax report is a filing submitted by an entity to the tax authority in Indonesia. It contains information used to calculate taxes, such as income tax. The deadlines for filing annual personal and corporate income taxes are March 31st and April 30th, respectively.
A balance sheet is a financial statement that overviews a business’s financial position at a specific time. It outlines the equity, assets, and liabilities of the business.
Cash flow refers to the movement of money into and out of a business. It tracks the inflow and outflow of cash, offering insights into the liquidity and financial health of the business.
Corporate income tax is imposed on legal entities or permanent establishments in Indonesia. The standard tax rate for corporate income tax in Indonesia is 25%. However, public companies with at least 40% of their shares traded on the Indonesia Stock Exchange are subject to a tax rate of 20%.
Small companies with an annual turnover of less than 50 billion IDR and 4.8 billion IDR are taxed at 12.5% and 1%, respectively.
Double taxation agreements are treaties signed between countries to prevent individuals or businesses from being taxed twice on the same income. Indonesia has signed several agreements that allow foreign companies presenting the Certificate of Domicile to benefit from reduced tax tariffs.
In Indonesia, the fiscal year corresponds to the calendar year, from January 1st to December 31st.
A general ledger is the primary account record of a business that utilizes double-entry bookkeeping. It summarizes all transactions and accounts within an entity.
Continue reading: 21 Must-Know Facts about Annual Tax Return in Indonesia
Gross profit is calculated by subtracting the cost of goods or services sold from the net sales. It represents the initial profit generated before considering other expenses.
The income statement, also known as the profit and loss statement, is a vital financial statement that reports a business’s performance over a specific period. It provides insights into the business’s profitability and overall financial health.
Individual income tax, or personal income tax, is levied on individuals based on their respective income levels and tax rates. In Indonesia, progressive tax rates apply to both local and foreign tax residents, determined by their income brackets:
Net of tax, also known as after-tax, refers to the final amount obtained after deducting all applicable taxes from the initial amount.
Tax deductions are expenses that can be subtracted from gross income. They reduce the taxable amount, thereby reducing tax liability.
A tax exemption allows taxpayers to subtract a specific amount from their taxable income. More tax exemptions result in lower tax liability.
The Tax Identification Number (TIN), known as Nomor Pokok Wajib Pajak (NPWP), is a crucial identifier for taxpayers in Indonesia. It is assigned to individuals and entities to fulfill their tax rights and obligations.
Tax liabilities refer to the total amount of tax due that an entity or individual owes to the tax authority in Indonesia. It represents the tax obligation that the taxpayer is responsible for paying.
A tax resident in Indonesia is an individual who resides and works in the country for more than 183 days within 12 months. Tax residents are required to pay taxes per Indonesian tax laws.
A tax return is a filing submitted to the tax authority in Indonesia. It enables taxpayers to calculate tax liability, request tax refunds, and schedule tax payments.
Tax review is a process conducted by tax consultants to ensure that tax reporting complies with Indonesian tax laws.
Value-Added Tax (VAT) is an indirect tax imposed on the sale of most goods and services. In Indonesia, the VAT rate is flat at 10%.
Withholding tax is the amount an employer withholds from an employee’s income and remits directly to the government. This tax also applies to other types of payment apart from salaries. The rates of withholding taxes vary depending on the type and recipient.
Consulting a tax, accounting, and bookkeeping advisor in Indonesia, such as InCorp Indonesia, is recommended for any uncertainties or questions. InCorp Indonesia offers outsourcing services and face-to-face consultations in Jakarta, Semarang, and Bali.
Having a clear understanding of accounting, tax, and bookkeeping terms is crucial for businesses and professionals operating in Indonesia. By familiarizing themselves with these concepts, individuals can effectively navigate the financial aspects of their business, ensuring compliance with Indonesian tax laws and optimizing their financial performance.
In case of any doubts, contact InCorp Indonesia by the form below. We offer outsourcing services and face-to-face consultancies in Jakarta, Semarang, Bali, Surabaya, and Batam.
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.