Discover the accounting standards applicable in Indonesia for accurate financial reporting and compliance. Stay informed and ensure regulatory compliance. TGS AU Partners welcomes Indonesia's 2023 SAK Pillars framework. Mr. Mikail Jaman (Mikail Jam'an) as Managing Partner explains how these new standards bring clarity to financial reporting. This article breaks down the 4 SAK Pillars (International, Indonesia, ETAP, EMKM), transition rules between standards, and Sharia PSAK implementation.

Benefit in kind expense becomes a deductible expense but also becomes an object of income tax for its recipients with Law number 7 of 2021 regarding Harmonization of Tax Regulations which is regulated through Government Regulation number 55 of 2022, which is effective from 20 December 2022.

Tax Facilities in Indonesia The Indonesian government provides tax facilities in Indonesia for Indonesian limited liability companies including: Companies in certain pioneer business fields with a minimum investment starting from 500

Income tax is imposed on income received by corporate taxpayers (companies and other types of legal entities) and individual taxpayers. Income tax is also imposed on income received by foreign taxpayers originating from Indonesia. In this publication, KAP Agus Ubaidillah dan Rekan (TGS AU Partners) will only discuss some of the tax obligations for limited liability companies which we consider important in doing business in Indonesia.

According to Government Regulation (GR) number 55 of 2022, income of up to 500 million rupiah received by certain taxpayers who are subject to final tax (businesses with turnover below 4.8 billion rupiah in 1 tax year and fulfill the requirements according to GR 55 of 2022), this income not subject to income tax.