Indonesia is actively navigating the digital transformation landscape, focusing on the utilization of Artificial Intelligence (AI) and digitalization. This focus on AI and digitalization is believed to solidify the Republic of Indonesia’s position as a technology leader in Southeast Asia. Although Singapore’s significant investment of US$743 million in AI projects serves as a regional aspiration … Read more
The Indonesian Tax Authority (ITA) provides various tax incentives to support companies going public. One of the tax incentives is a corporate income tax (CIT) rate for publicly listed companies (Tbk) set at 19 percent, which is 3 percent lower than the standard rate of 22 percent. This policy is outlined in Law No. 7 … Read more
REGULATION OF THE MINISTRY OF DIRECTOR GENERAL OF TAXES NUMBER PER – 2/PJ/2024 REGARDING FORM AND PROCEDURES FOR PROVIDING PROOF OF WITHHOLDING INCOME TAX ARTICLE 21 AND/OR ARTICLE 26 AS WELL AS THE FORM, CONTENTS, PROCEDURES FOR COMPLETING, AND PROCEDURES FOR SUBMISSION OF THE INCOME TAX RETURN OF ARTICLE 21 AND/OR ARTICLE 26 In connection … Read more
INVESTMENT. A term that involves spending a certain amount of money now to earn more in the future. But who first introduced this concept of investment? According to Warren Buffett, currently the world’s most successful stock investor, the basic mathematics of investment was first introduced by an ancient Greek storyteller named Aesop, who lived around … Read more
The Indonesian government has set Provincial Minimum Wages (Upah Minimum Provinsi, UMP) as part of efforts to ensure economic protection for workers in various regions. This decision is in line with the provisions stated in Government Regulation (Peraturan Pemerintah, PP) Number 51 Year 2023 (“PP 51/2023”) about Wages, which provides the legal basis for determining … Read more
Article 1 paragraph (1) of Law Number 24 of 2011 regarding the Social Security Administration Agency (“UU 24/2011”) establishes a legal entity to administer social security programs, consisting of BPJS Ketenagakerjaan (Employment Insurance) and BPJS Kesehatan (Health Insurance). BPJS Ketenagakerjaan functions to administer programs for work accident insurance, old-age benefits, pension benefits, and death benefits. … Read more
This regulation aims to simplify and ease the compliance of tax obligations for taxpayers regarding the withholding of Income Tax Article 21 (PPh 21), as well as to adjust the income tax rates for domestic individual taxpayers, following the enactment of Law Number 7 of 2021 on Tax Regulation Harmonization. This regulation specifies the effective … Read more
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