As a general business practice, the Company provides incentives to their customers who purchase its products for resale. Customers who purchase and resale the products are encouraged to achieve certain conditions for obtaining incentives. The form of incentives can be in money, payable reduction (rebates), in kind, and goods. Certain conditions that occur in a … Read more
The House of Representatives (DPR) decided on the addition of three provinces in Papua at the 36th plenary meeting on June 30, 2022. In this meeting, 3 draft laws (RUU) were passed, namely; the establishments of South Papua Province, Central Papua Province and Papua Mountains Province. Thus, the Republic of Indonesia officially has 37 provinces … Read more
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
The Indonesian Tax Authority has regulated the tax treatment of trade transactions through an electronic system (e-commerce). The regulation is stipulated in PMK No.210/PMK.010/2018 and is effective on April 1, 2019. In the regulation, the law of tax treatment on e-commerce includes Value Added Tax, Sales Tax on Luxury Goods, Income Tax on transactions within … Read more
The Indonesian Institute of Certified Public Accountants (IAPI) has established and ratified Auditing Standard (SA) 701 (2021) regarding “Communicating Key Audit Matters in Independent Auditors’ Reports.” The SA is effective for audits of financial statements for periods beginning on or after January 1, 2022. The purpose of communicating Key Audit Matters is to increase the … Read more
SW Indonesia is holding the SW PAINTING FESTIVAL 2022 with the theme “Astungkara, Rise up with Bali.” This event featured paintings by Balinese painters, namely Nyoman Sujana Kenyem, I Wayan Suastama, Ketut Sugantika Lekung, Teja Astawa Ketut and Made Wiradana. The works shown are original works of painting on canvas. By organizing this event, SW … Read more
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
30th of June is often the deadline for submitting the Audited Financial Statements of the companies that have bank loans in Indonesia. Although there are no written and uniform rules, SW Indonesia has bank debtor clients who are directed to this deadline. Banks use Audited Financial Statements as a source of information related to credit … Read more
The deadline for participating in the Volunteer Disclosure Program (PPS) or widely referred to as Tax Amnesty II is June 30, 2022. This program starts on January 1, 2022, referring to Law Number 7 of 2021 concerning the Harmonization of Tax Regulations (“UU HPP”) which was passed on October 29, 2021. The Indonesian tax authorities … Read more
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
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