Is Indonesia a good place to work or live in?
Indonesia has the biggest economy in South East Asia, this means that there is potential in the economic growth. Thus, Indonesia has a wide range of goods and services along with better [...]
How strict are Indonesia’s tax laws when compared to those of other countries?
The laws governing taxation, tax evasion, and avoidance are very strict in Indonesia. The Indonesian government deliberately chose to make the country’s tax laws strict in order to dissuade potential offenders from [...]
How has the Indonesian Government attempted to reduce the tax crime rate?
The Indonesian government has been very serious about reducing the tax crime rate. It continues to modify the tax laws of the country in order to prevent people from committing tax crimes [...]
Does Indonesia follow IFRS?
Indonesia's approach to IFRS adoption is to maintain its national GAAP (Indonesian Financial Accounting Standards, IFAS) and converge it gradually with IFRSs as much as possible. Currently there is no plan (and [...]
Which financial Accounting Standard is Indonesia adopting currently?
International Financial Reporting Standard (IFRS) is adopted in Indonesia.
Who set Accounting standards in Indonesia?
The Government Accounting Standard Committee (KSAP), established under Minister of Finance Decree No. 379 of 2004, is responsible for setting Public Sector Accounting Standards in Indonesia.
What Accounting standards does Indonesia use?
Indonesia's commitment is to support IFRS Standards as the globally accepted accounting standard and to continue with the IFRS Standards convergence process, further minimizing the gap between SAK and IFRS. Indonesia is yet to [...]
Is Indonesia a tax-free country?
Indonesian resident taxpayers are subject to tax on worldwide income. Non-residents are subject to tax on Indonesian-source income only. Diplomats and representatives of certain international organizations are excluded from Indonesian tax if [...]
Are any of Indonesia’s current tax exemptions expected to be removed?
Recently, there have not been any major discussions on the possible removal of any tax exemptions in Indonesia. Therefore, none of them are expected to be removed.
Can a person be eligible for more than one exemption at the same time?
There are no laws which prevent any individual in Indonesia who is eligible for multiple exemptions from claiming all of them. This means that a person can be eligible for more than [...]