Who gets the profit from a sole proprietorship?
A sole proprietorship is an unincorporated business with only one owner who pays personal income tax on profits earned.
What are 3 disadvantages of a sole proprietorship?
No liability protection, unlimited liabilities and lack of financial control and difficulty tracking expenses.
What are examples of sole proprietorship?
Examples of sole proprietors include small businesses such as, a local grocery store, a local clothes store, an artist, freelance writer, IT consultant, freelance graphic designer, etc.
Who qualifies as a sole proprietor?
A sole proprietor is someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic limited liability company (LLC), you are not a [...]
What is the standard Corporate Income Tax Rate in Indonesia?
Most companies in Indonesia are taxed at a rate of 25%. However, companies which have at least 40% of their shares available to the public and are listed on the Indonesia Stock [...]
Why do Indonesian companies start with PT?
PT is the abbreviation for Perseroan Terbatas, and it means Limited Liability Company. Therefore, all company names in Indonesia must be preceded by “PT” once they are approved. This official name that starts [...]
Is my LLC an S or C Corp?
An LLC is a legal entity only and must choose to pay tax either as an S Corp, C Corp, Partnership, or Sole Proprietorship. Therefore, for tax purposes, an LLC can be [...]
Can I set up a foreign local company?
Yes, you can. You will need a local nominee director for your foreign local company incorporation.
What is the Positive and Negative Investment List?
The Negative Investment List was replaced by the Positive Investment List in 2021. The list details the restricted sectors that the government prohibits investors and entrepreneurs to invest in.
What is the latest update on the Positive and Negative Investment List?
As of 4 March 2021, the Positive Investment List was introduced to significantly reduce the number of restricted sectors that prevents foreigners to enter from 350 to 46.