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 the International Financial Reporting Standards (IFRS).
02. BRAND VALUE BECOMES AN INTANGIBLE ASSET FOR PUBLIC COMPANIES
The trademark is widely useful in business activities and sustainability so as to encourage the Company to continue increase its value. Increasing the value and image of the Company is one of the benefits of an IPO for the Company hence, there are 8 out of 10 companies with the most valuable trademarks that are public companies in Indonesia.
03. VALUE ADDED TAX ON THE UTILIZATION OF OVERSEAS SERVICES
Indonesia regulates the scope of VAT jurisdiction in the Law, whether the principle of origin or purpose. Based on Law No.42 of 2009, it is explained that VAT is imposed on the utilization of Taxable Goods (BKP) and Taxable Services (JKP) from outside the Customs area.
04. LEGAL PROTECTION OF THE TRADEMARK
The broad benefits of the trademark for the Company prompted the Government to seek legal protection of the trademark that the Company built. A trademark can be registered by the Company by observing the specified criteria until the Company obtains the right to use the trademark.
