As the global economy reopens, Indonesia is fully on board to strengthen its position in the global market, with GDP set to grow by up to 5% in 2022. The tide is turning and the momentum for reform is returning.
Not only has there been major overhauls to Indonesia’s regulatory framework and a progressive approach to digitalisation in the last decade, in November 2020, President Joko Widodo enacted the Job Creation Law with the aim of attracting investment, creating new jobs and transforming Southeast Asia’s largest economy.
Partnering with five leading firms who are closest to the action, ITR brings you practical insight, into some of the most significant recent developments, from the Indonesian tax world.
As Indonesia becomes more of an attractive proposition for investors, the authors from RSM Indonesia explore the country’s intricate tax system, while looking to the future at the plethora of opportunities that lie ahead.
As mentioned, one such opportunity is the introduction of the Job Creation Law. DDTC’s article describes how Indonesia’s new tax regime will boost investment and accelerate economic development, in a post-pandemic era when government support through the tax system will be vital.
Meanwhile, as tax disputes steadily increase,the article from Suryani Suyanto & Associates discusses the challenges faced by multinational corporations in the context of an arm’s-length assessment of intangible properties.
The article by GNV Consulting explains why preparation is key to success when preparing for a tax audit. The authors explain why taxpayers must be prepared long before an audit begins, in order to identify any potential areas that may be scrutinised or areas for improvement.
In international trade, one of the most important aspects for consideration is the components to be included in the customs value declared to authorities for the calculation of import duty. SF Consulting/Crowe Indonesia’s articlediscusses the disputes that arise over customs value.
We hope you enjoy hearing from our tax experts in the second edition of the Indonesia guide.
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