Global business services in Indonesia

Accounting and tax services in Indonesia

Indonesia, like many countries, is subject to its own tax and accounting regulations. While your own requirements for bookkeeping, reporting and credit control may require flexible services to effectively support the way your business operates, there are a number of obligations and regulations that you need to abide by to ensure compliance with Indonesian laws.

For example, all accounting books, records and financial statements should be prepared using the Indonesian (Bahasa) language, unless the company has obtained permission to use another language from the Ministry of Finance.

When preparing records and annual financial statements, you will need to do so in accordance with the Indonesian Financial Accounting Standards (SAK), which are issued by the Indonesian Financial Accounting Standards Board.

Our local team in Indonesia are familiar and experienced with all aspects of accounting and tax for the country.

TMF Group Indonesia can help you with:

  • Bookkeeping
  • Payments processing
  • Credit control
  • Local tax statutory reporting
  • Management reporting IFRS and GAAP
  • Consolidated accounts preparation and reporting
  • Investor reporting
  • Tax and VAT compliance
  • Provision of cheque signatories for our clients’ bank accounts and liaising with relevant parties when necessary

Corporate Secretarial services in Indonesia

Indonesia has great potential for businesses to expand and develop their operations, but not without challenges. There are 13 procedures required to establish a corporate entity in Indonesia that need to be strictly adhered to. A lack of transparency and corporate governance in the country means that industrial disputes are common.

TMF Group Indonesia can help you to overcome these challenges and obstacles with a suite of corporate secretarial services that will help you maintain compliance and transparency in all aspects of your business. Our extensive knowledge of setting up companies in ASEAN means we can conduct due diligence for all your contracts, provide Indonesia process agent services and business process specialists who can assist with the incorporation or set up of your company in Indonesia.

Our local team in Indonesia can help you with:

  • Legal entity incorporations
  • Provision of local directors, shareholders and company secretaries
  • Group reorganisations, secondments and interim resources
  • IPO support, including company secretarial services for listed companies
  • SPV administration support for PE/RE fund and international holding structure
  • Process agent services
  • Assistance in applying and renewing import and business licenses

HR & Payroll services in Indonesia

Indonesia has the fourth largest population of the world with over 50% of the population living in urban areas. More than half of the population is under the age of 30 which makes for a young and energetic workforce. Foreign employees are required to have work permits and visas, and both the employee and employer need to hold work permit documentation.

Companies with 10 or more employees are required to insure all their employees through Mandatory Social Security Programmes with contributions to occupational accident security, healthcare security and others.

Our team are experienced with all aspects of payroll and HR requirements for Indonesia and can help you support and protect your staff.

TMF Group Indonesia can assist with:

  • The calculation of payroll, consisting of all applicable income and deduction items
  • Payment services for salary distribution, employee income tax payments and social security contributions
  • Payroll-related statutory compliance services, for example tax and social security reporting filling
  • Electronic reporting solutions to securely manage global data and payment processes
  • Implementation of HR policies and terms into local contracts and procedures
  • Employment contract preparation and execution
  • Facilitation of relocation requirements including work permits, employment passes, dependent passes, visit passes and permanent resident status
  • Cancellation of employment and/or dependent passes
  • Implementation of benefit programs in compliance with local laws
  • Online payroll facilities including electronic processing and reporting of HR records, an e-payslip system, leave applications and expense claims

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