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SW NIHAO Newsletter E.11 – March 2023

COMPLIANCE SOCIAL SECURITY . TAX RETURN . STOCK EXCHANGE 01. COMPLIANCE OF HEALTH AND EMPLOYMENT SECURITY Every company in Indonesia is required to register all workers as member of the Social Security Administrative Body (BPJS), i.e. BPJS Employment and BPJS Health. For companies that do not register their employees to BPJS Employment and BPJS Health, … Read more

SW NIHAO Newsletter E.10 – February 2023

E-COMMERCE Business Environment of Online Trading Transactions 01. ACCOUNTING FOR E-COMMERCE E-commerce drives responses from accounting profession. 02. VAT ON E-COMMERCE Newest update in Value Added Tax regulation on e-commerce business. 03. IPO OF E-COMMERCE SECTOR IPO is a rational action for companies in e-commerce sector. 04. PROSPECT OF E-COMMERCE Prospect and contributions e-commerce to … Read more

SW NIHAO Newsletter E.9 – January 2023

INFRASTRUCTURE Investment in Infrastructure Projects and its Compliance 01. INFRASTRUCTURE PROJECT AND ITS ACCOUNTING TREATMENT Companies engage into infrastructure projects must comply with certain statutory requirement specifically on the applicable accounting standard. Infrastructure projects is covered under the new accounting standard “PSAK 72 Revenue from Contracts with Customers”. 02. AUDIT DEVELOPMENT OF THE FINANCIAL STATEMENT … Read more

SW NIHAO Newsletter E.8 – December 2022

PLANTATION Investment, Reporting, Auditing and Taxation in Agriculture Industry 01. AGRICULTURAL ACCOUNTING PSAK 69 stipulates that biological assets or agricultural products are recognized when they meet several of the same criteria as the criteria for asset recognition. 02. AUDIT OF AGRICULTURE COMPANIES When conducting audit of agricultural companies, auditors are expected to exercise a high … Read more

SW NIHAO Newsletter E.7 – November 2022

DERIVATIVE The Perspective of the Financial Profession as a Response to Derivative Funding Instruments 01. ACCOUNTING FOR DERIVATIVES Derivatives are recorded at a fair value so a hedge accounting application is needed for the potential gain or loss that will occur. 02. AUDITING DERIVATIVE INSTRUMENTS Derivative instruments with characteristics such as underlying, initial net investment … Read more

SW NIHAO Newsletter E.6 – October 2022

INVISIBLE Management, Protection, Reporting, and Compliance Aspects of Invisible Assets 01. ACCOUNTING FOR INTANGIBLE ASSETS Intangible assets are beneficial in various aspects, both financial, taxation and accounting. Given the importance of these assets, it is necessary for accountants to pay attention in recognizing, measuring and recording intangible assets regulated by the government and contained in … Read more

SW NIHAO Newsletter E.5 – September 2022

MULTINATIONAL Multinational Companies Pass Through Investment Gateway Including Establishment, Compliance & Corporate Actions 01. FOREIGN INVESTMENT IN INDONESIA OSS is a platform managed by BKPM to simplify the business licensing process, including for foreign investors. Through this platform, companies register by fulfilling the requirements and obtaining various documents for the company’s establishment. 02. JOINT OPERATION … Read more

SW NIHAO Newsletter E.4 – August 2022

LOYALTY PROGRAM Loyalty Program Creates Various Business Model and Responses in Professional Treatment 01. ACCOUNTING TREATMENT RELATED TO CUSTOMER LOYALTY PROGRAMS A company offers various incentive programs to bind customer loyalty. The accounting treatment for customer loyalty programs is described in the Accounting Standards on Revenue. 02. TAX TREATMENT RELATED TO CUSTOMER LOYALTY PROGRAMS The … Read more

SW NIHAO Newsletter E.3 – July 2022

TRANSFORMATION HUB SW Indonesia Highlights Things That Respond to Transformation in the Business Environment 01. IPO AS A FUNDING TREND FOR DIGITAL BUSINESS COMPANIES IPO is a way of corporate funding in which a private company makes an initial public offering. IPOs are considered a funding solution because IPOs allow companies to obtain large amounts … Read more

SW NIHAO Newsletter E.2 – June 2022

LAST CALL REMINDER SW Indonesia Reminds Important Dates of Reports and Program Submission in Indonesia 01. LAST CALL: KPPK Report – Offshore Borrowings KPPK report is a report containing information which is the result of an assessment by an independent public accountant and has been examined based on the Attestation Procedure.The KPPK report based on … Read more