Form is for sole proprietors. Form S is for individuals with multiple incomes. NPPN is a calculation norm that can be used by taxpayers for calculating their net income for one taxable year. It serves as the basis for income tax calculation. You will need a monthly withholding tax report, an annual withholding tax report, a monthly income tax report, an annual income tax report, and an investment plan.
This form is mandatory for employees while filing for their individual annual tax returns. It gets a little more demanding for a corporate tax return as it depends a lot on periodic accounting and tax reporting — which is extremely crucial to Indonesian tax compliance.
Therefore, recording is hardly sufficient. You should outsource your accounting to an external party for the proper filing of a corporate tax return. You need to calculate your corporate income tax based on accounting principles modified by certain tax adjustments.
Deductions apply to business expenditures. Your company can enjoy a simpler 0. The deadline for an individual tax return as on 31st March every year. For corporate, lodge the tax return within four months after the end of the calendar year or taxable year.
Your tax return shall be sent to the tax office KPP that you or your company registers as a taxpayer. On top of that, you will be required to pay an administrative sanction fee of IDR , for a personal income tax return, or IDR 1,, for a corporate income tax return. For individuals who stay less than days in a year in Indonesia, you are not obligated to file an income tax return in the country.
E-Filling is the filling for tax returns electronically. E-Billing is the electronic billing for tax payments. Both are done online at the DGT website.
For companies, the procedure must be done at the KPP where your company is registered. With a special purpose vehicle arrangement, your business is still liable for corporate taxes, and they can submit a tax return on behalf of the business at the tax office. The dividend from the tax return will be fully received by the business owner. However, a withholding tax will be deducted. A special purpose vehicle arrangement for annual tax return submission can be done through services provided by Cekindo most safely.
Cekindo offers a variety of tax and accounting services to businesses of all types and sizes. Contact us now. Facebook Tweet LinkedIn. It is the time of the year again to file your annual tax return in Indonesia. Honouring Exemplary Boards. Deep Dive Into Cryptocurrency. ET Markets Conclave — Cryptocurrency. Reshape Tomorrow Tomorrow is different. Let's reshape it today. Corning Gorilla Glass TougherTogether.
ET India Inc. ET Engage. ET Secure IT. Tax How to file ITR. Tax Saving. ITR Forms. Income Tax Refund. Tax Exemption Limit. Income Tax Slabs. Insure Life Insurance. Health Insurance. Motor Insurance. Other Risk Covers. Personal Finance News. Mutual Funds. Rate Story. Font Size Abc Small. Abc Medium. Abc Large. If you are an individual taxpayer say, a salaried individual and your total income during the financial year FY exceeds Rs 2. Likewise, if you have paid more than two lakhs for foreign travel of any person including yourself, you have to file an ITR.
Foreign Travel for this purpose does not cover travels to neighbouring countries or for religious purposes. And lastly you have to file an ITR if you have incurred electricity cost for an amount exceeding rupees one lakhs during the year. Balwant Jain is a tax and investment expert. He can be reached on jainbalwant gmail. Never miss a story! Stay connected and informed with Mint. Download our App Now!! It'll just take a moment.
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