As a supporting action of the Institute of Indonesian Chartered Accountants for Indonesia’s Tax Amnesty program, the Financial Accounting Standard Board has released Indonesia Financial Accounting No. 70 concerning Accounting for Tax Amnesty Assets & Liabilities. This standard provides guidance for entity preparing financial reports in the wake of the recently applied Tax Amnesty Law.
By: Dezan Shira & Associates Editor: Cameron Turnbull On February 17th, 2016, Indonesian president, Joko Widodo, announced plans to further liberalize his nation’s economic policy’s 10th economic stimulus package aimed at stimulating foreign direct investment. Indonesia has long been on the radar of international investors as a rapidly developing region with serious potential. More stable[…..]
By: Dezan Shira & Associates Editor: Alexander Chipman Koty In comparison to Singapore, Malaysia, and Thailand, Indonesia is more prohibitive to foreign businesses. Not only does Indonesia generally demand higher taxation, but it also has more bureaucratic red tape. Still, many investors are intrigued by the country’s enormous potential. Like Thailand, loss prevention requirements, timing requirements,[…..]
By: Winnindo Business Consult Editor: Mourme Taruna Halim In early April 2016, Indonesia Tax Authority indicated that Google Indonesia, Yahoo Indonesia, Facebook Singapore Pte Ltd and Twitter Asia Pacific Pte Ltd were avoiding tax in Indonesia. Among the four companies, Facebook and Twitter are established in Indonesia in form of Representative Offices (RO). This article[…..]
By: Aysha Nesbitt As the world’s largest archipelago, Indonesia is among the most important producers of aquaculture globally. In 2001, Indonesia ranked fourth in aquaculture output and has since increased its fishery exports to US $4 billion in 2015. Though Indonesia’s aquaculture industry has begun to make strides, it is still far from realizing its[…..]
By: Cascade Asia Advisors As businesses look away from China and towards other countries to fulfill their manufacturing needs, Indonesia is an increasingly attractive prospect. With a massive workforce, a growing middle class, and newly established investment incentives, Indonesian leaders are making clear their commitment to promoting Indonesia as a hub of manufacturing in Southeast Asia. Although Indonesia[…..]