The Covid-19 pandemic has slowed global and national economic growth in 2020, with Indonesia projected to have economic growth of -0.4% to 1%. The pandemic has caused many changes including people working and learning from home to prevent the spread of the virus. A "new normal" is being implemented where economic activities resume but with added health protocols.
One of the key issues highlighted on our end-year KIB Consulting e-news edition is to help our clients in identifying and understanding today’s business landscape and its ongoing risks. The headline was excerpted from the World Economic Forum insight report of Regional Risks for Doing Business 2018.
One of the key issues highlighted on our end-year KIB Consulting e-news edition is to help our clients in identifying and understanding today’s business landscape and its ongoing risks. The headline was excerpted from the World Economic Forum insight report of Regional Risks for Doing Business 2018.
Newsletter on daily professional updates- 16th September 2019CA PRADEEP GOYAL
Â
“Knowledge has to be improved, challenged, and increased constantly, or it vanishes.” Here is your Daily dose of professional updates in newsletter form- 16th September 2019
Impact of COVID-19 on Indian Economy: 28th November 2020Sam Ghosh
Â
Indian economy entered a technical recession with two consecutive quarters of GDP contraction in Q2 of FY 2020-21. Results released by the National Statistical Office shows that the GDP of India during the H1 of FY 2020-21 contracted by 15.7% at Constant (2011-12) Prices and 13.3% at Current Prices. While quarterly GDP in Q2 FY 2020-21 in rupee terms improved from Q1 FY 2020-21 by 23% at Constant Prices and 24% at Current Prices, it is still 7.5% and 4% lower than Q2 of FY 2019-20 at Constant and Current Prices respectively. The contraction was caused by a drastic drop in private consumption (which contributes around 60% of Indian GDP) and a drop in gross fixed capital formation.
The policy repo rate has been reduced by 115 basis points from the beginning of 2020 to record low levels. Apart from that, RBI is injecting liquidity through various Open Market Operations and Long Term Repo Operations. Currency with the public increased by ~20% from the end of 2019 to the end of October 2020. We can safely say that the Indian economy is flushed with liquidity.
Consumer inflation remains above the policy range of 4%+2%, and with a GDP contraction, the Indian economy is dealing with stagflation.
On the fiscal front, total monthly receipts remained lower than the same period last year for the whole Q1 and Q2 (April - September) FY 2020-21. October receipts show signs of improvement. Fiscal expenditure on the other hand was maintained at the same levels of FY 2019-20 in FY 2020-21 till October. The fiscal deficit stood at 119.7% of the Budget Estimates as of October 2020 due to lower receipts.
Credit growth remains sluggish especially due to lower credit uptake by the industry. Credit demand for smaller companies was low from the beginning of fiscal 2020-21 which improved after August. Credit uptake by the large corporates dropped after July 2020.
Household savings increased dramatically from Rs.5.32 lakh crores in Q4 of FY 2019-20 to Rs. 8.16 lakh crores in Q1 of FY 2020-21 - a more than 50% increase. Most of the increase in household savings resulted from an aversion to liabilities. It signifies that the households turned conservative about their finances to deal with impending financial distress.
The unemployment rate shot-up in April and May 2020 above 20% and moderated to below 10% levels after June 2020. Employees' Provident Fund records show healthy job creation in September 2020.......
Economics Class 12 CBSE project on GST (Goods and Services Tax)Harjinder Singh
Â
This is a Class 12 Economics Project as per the guidelines 2019-20, CBSE.
Unit: Macroeconomics
Topic: GST (Goods and Services Tax)
â–˝ Check out my other projects
â–˝ Accountancy
• Comprehensive Project - 1: https://youtu.be/4y6LY6__yeA
• Analysis of Cash Flow Statement: https://youtu.be/HCa-HBkpHmQ
â–˝ Business Studies
• Changes in the import and export patterns: https://www.youtube.com/watch?v=lKHgT...
• Changing role of women: https://youtu.be/lvcn-VQgUG8
• MARKETING MANAGEMENT
â—¦ Beverages: https://www.youtube.com/watch?v=vJxwn...
â—¦ Mobile: https://www.youtube.com/watch?v=mUq6H...
â—¦ Sarees: https://youtu.be/s2erj6tkLHw
â—¦ Toothpaste: https://www.youtube.com/watch?v=JZll_...
• Principles of Management: https://www.youtube.com/watch?v=HzuZ2...
â–˝ Economics
• Demonetization in India: https://youtu.be/ksnIU6ewifE
• Government Budget & Its Components: https://youtu.be/Uc9EKqBOXAA
Impact of COVID-19 on Indian Economy: 9th September 2020Sam Ghosh
Â
Podcast Link: https://www.buzzsprout.com/1339501/5359456-impact-of-covid-19-on-indian-economy-9th-september-2020.mp3?blob_id=21713947&download=true
Results released by the National Statistical Office shows that the GDP of India contracted by 23.9% at Constant (2011-12) Prices and 22.6% at current prices during the Q1 of FY 2020-21.
Gross Fixed Capital Formation decreased by ~50% from March to June 2020. This is really alarming.
While the figures are alarming, let us keep perspective. The contraction in the economy was not spontaneous but due to a forced shut down of the economy.
While the economic pain is far from over, improvements in IIP and manufacturing PMI figures give us some optimism. Q1 Industrial Outlook Survey shows mixed expectations for Q2 but a positive overall business sentiment
We need to keep in mind that while some sectors may pick up growth spontaneously after the lockdowns are completely lifted, other sectors may need considerable policy hand-holding.
Medium and small size companies need special attention as they may struggle to get the policy benefits as reflected by drastically different credit uptake by companies of different sizes.
We can be cautiously optimistic that the economy improves rapidly in the coming quarters but the fear of a fresh wave of infection still looms.
Strategies of Local Government Units (LGUs) to improve Business Tax Collectio...IJAEMSJORNAL
Â
This study gave details on the strategies used by Local Government Units (LGUs) to boost business tax collection during the COVID-19 pandemic. The study's findings also revealed the impact of the Pandemic on tax collection. The survey questionnaire was employed to gather data, and the descriptive method of study was applied. During the data collection period, the respondents were limited to the available personnel of the Cabanatuan City Treasurer's Office. The key statistical techniques employed in evaluating and interpreting the research data were descriptive statistics such as weighted mean and percentages. The results demonstrated that during the pandemic, tax collection was hampered by temporary or permanent business closures, and curtailed operations resulted in lower revenue for enterprises. The LGUs can deploy a digital facility for business tax assessment and payment, which promotes taxpayer compliance and aids the government in meeting its target collections during the pandemic while following minimal health protocols. Furthermore, retaining all essential information on taxpayers,using digital platforms, assists the LGUs in disseminating information about tax dues and extensions of payment deadlines.
Labour Minister Thulas Nxesi media briefingSABC News
Â
President Cyril Ramaphosa has announced that the
country will be moving to Alert Level 3 of the Lockdown
from June 1, 2020. This means that a lot more people
will be going back to work. I
Newsletter on daily professional updates- 16th September 2019CA PRADEEP GOYAL
Â
“Knowledge has to be improved, challenged, and increased constantly, or it vanishes.” Here is your Daily dose of professional updates in newsletter form- 16th September 2019
Impact of COVID-19 on Indian Economy: 28th November 2020Sam Ghosh
Â
Indian economy entered a technical recession with two consecutive quarters of GDP contraction in Q2 of FY 2020-21. Results released by the National Statistical Office shows that the GDP of India during the H1 of FY 2020-21 contracted by 15.7% at Constant (2011-12) Prices and 13.3% at Current Prices. While quarterly GDP in Q2 FY 2020-21 in rupee terms improved from Q1 FY 2020-21 by 23% at Constant Prices and 24% at Current Prices, it is still 7.5% and 4% lower than Q2 of FY 2019-20 at Constant and Current Prices respectively. The contraction was caused by a drastic drop in private consumption (which contributes around 60% of Indian GDP) and a drop in gross fixed capital formation.
The policy repo rate has been reduced by 115 basis points from the beginning of 2020 to record low levels. Apart from that, RBI is injecting liquidity through various Open Market Operations and Long Term Repo Operations. Currency with the public increased by ~20% from the end of 2019 to the end of October 2020. We can safely say that the Indian economy is flushed with liquidity.
Consumer inflation remains above the policy range of 4%+2%, and with a GDP contraction, the Indian economy is dealing with stagflation.
On the fiscal front, total monthly receipts remained lower than the same period last year for the whole Q1 and Q2 (April - September) FY 2020-21. October receipts show signs of improvement. Fiscal expenditure on the other hand was maintained at the same levels of FY 2019-20 in FY 2020-21 till October. The fiscal deficit stood at 119.7% of the Budget Estimates as of October 2020 due to lower receipts.
Credit growth remains sluggish especially due to lower credit uptake by the industry. Credit demand for smaller companies was low from the beginning of fiscal 2020-21 which improved after August. Credit uptake by the large corporates dropped after July 2020.
Household savings increased dramatically from Rs.5.32 lakh crores in Q4 of FY 2019-20 to Rs. 8.16 lakh crores in Q1 of FY 2020-21 - a more than 50% increase. Most of the increase in household savings resulted from an aversion to liabilities. It signifies that the households turned conservative about their finances to deal with impending financial distress.
The unemployment rate shot-up in April and May 2020 above 20% and moderated to below 10% levels after June 2020. Employees' Provident Fund records show healthy job creation in September 2020.......
Economics Class 12 CBSE project on GST (Goods and Services Tax)Harjinder Singh
Â
This is a Class 12 Economics Project as per the guidelines 2019-20, CBSE.
Unit: Macroeconomics
Topic: GST (Goods and Services Tax)
â–˝ Check out my other projects
â–˝ Accountancy
• Comprehensive Project - 1: https://youtu.be/4y6LY6__yeA
• Analysis of Cash Flow Statement: https://youtu.be/HCa-HBkpHmQ
â–˝ Business Studies
• Changes in the import and export patterns: https://www.youtube.com/watch?v=lKHgT...
• Changing role of women: https://youtu.be/lvcn-VQgUG8
• MARKETING MANAGEMENT
â—¦ Beverages: https://www.youtube.com/watch?v=vJxwn...
â—¦ Mobile: https://www.youtube.com/watch?v=mUq6H...
â—¦ Sarees: https://youtu.be/s2erj6tkLHw
â—¦ Toothpaste: https://www.youtube.com/watch?v=JZll_...
• Principles of Management: https://www.youtube.com/watch?v=HzuZ2...
â–˝ Economics
• Demonetization in India: https://youtu.be/ksnIU6ewifE
• Government Budget & Its Components: https://youtu.be/Uc9EKqBOXAA
Impact of COVID-19 on Indian Economy: 9th September 2020Sam Ghosh
Â
Podcast Link: https://www.buzzsprout.com/1339501/5359456-impact-of-covid-19-on-indian-economy-9th-september-2020.mp3?blob_id=21713947&download=true
Results released by the National Statistical Office shows that the GDP of India contracted by 23.9% at Constant (2011-12) Prices and 22.6% at current prices during the Q1 of FY 2020-21.
Gross Fixed Capital Formation decreased by ~50% from March to June 2020. This is really alarming.
While the figures are alarming, let us keep perspective. The contraction in the economy was not spontaneous but due to a forced shut down of the economy.
While the economic pain is far from over, improvements in IIP and manufacturing PMI figures give us some optimism. Q1 Industrial Outlook Survey shows mixed expectations for Q2 but a positive overall business sentiment
We need to keep in mind that while some sectors may pick up growth spontaneously after the lockdowns are completely lifted, other sectors may need considerable policy hand-holding.
Medium and small size companies need special attention as they may struggle to get the policy benefits as reflected by drastically different credit uptake by companies of different sizes.
We can be cautiously optimistic that the economy improves rapidly in the coming quarters but the fear of a fresh wave of infection still looms.
Strategies of Local Government Units (LGUs) to improve Business Tax Collectio...IJAEMSJORNAL
Â
This study gave details on the strategies used by Local Government Units (LGUs) to boost business tax collection during the COVID-19 pandemic. The study's findings also revealed the impact of the Pandemic on tax collection. The survey questionnaire was employed to gather data, and the descriptive method of study was applied. During the data collection period, the respondents were limited to the available personnel of the Cabanatuan City Treasurer's Office. The key statistical techniques employed in evaluating and interpreting the research data were descriptive statistics such as weighted mean and percentages. The results demonstrated that during the pandemic, tax collection was hampered by temporary or permanent business closures, and curtailed operations resulted in lower revenue for enterprises. The LGUs can deploy a digital facility for business tax assessment and payment, which promotes taxpayer compliance and aids the government in meeting its target collections during the pandemic while following minimal health protocols. Furthermore, retaining all essential information on taxpayers,using digital platforms, assists the LGUs in disseminating information about tax dues and extensions of payment deadlines.
Labour Minister Thulas Nxesi media briefingSABC News
Â
President Cyril Ramaphosa has announced that the
country will be moving to Alert Level 3 of the Lockdown
from June 1, 2020. This means that a lot more people
will be going back to work. I
This report for the G20/OECD Task Force on Financial Consumer Protection is based on extensive data collection and analysis of measures implemented by jurisdictions in response to the COVID-19 pandemic and longer-term implications.
We are a firm of Chartered Accountants who have drafted a proposal for providing stimulus to our entrepreneurs without much compromise on revenue targets set by the Finance Ministry. We have emailed this proposal to Hon. Minister of Finance Smt. Nirmala Sitharaman Ji on 27th April 2020.
We are sure that if implemented with right spirit, our countrymen are motivated enough to help kick-start the growth and development of our nation at a desired speed to make it a US$ 5-trillion economy.
Impact of the COVID-19 pandemic on micro, small, and medium enterprises (MSM...MicrosaveConsulting1
Â
MSC presents the report on the impact of the Covid-19 pandemic on micro, small and medium enterprises based in Kenya. It also highlights how the post-pandemic relaxations haven't helped these enterprises in reaping the financial benefit.
COVID19 - Risks and opportunities in Telecom Sectoreveris
Â
The COVID-19 health crisis has produced the biggest economic crisis in the recent history.
By the moment, the Telecommunications Sector is one of the least affected sectors. The real impact that could be achieved is still unknown and the threat of a future resurgence puts all sectors of activity in check.
It is necessary to take measures that prevent future risks and help us to find opportunities for growth in a new reality. The current context is also an accelerator and stimulator of transformations and latent changes in the Telecom Sector
Emerging Paradigm for India's Manufacturing Sector Sudeeksha Gupta
Â
A presentation based on our research paper " Emerging Paradigm for India's Manufacturing Sector". It assesses the general potential impact of the shock on various segments of the economy with specific details of impact on the manufacturing sector, the factors stimulating it and analyse the policies that have been announced so far by the central government to ameliorate the economic shock and put forward a set of key recommendations for businesses and Indian economy.
Similar to Tax Flash July KIB Consulting 2020 (20)
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Â
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales đź’˛
3. How you can capture more CRM data to understand your audience better through video testimonials. đź“Š
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Unveiling the Secrets How Does Generative AI Work.pdfSam H
Â
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Â
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
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Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Â
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Â
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Â
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Â
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
1. TAX FLASHKIB E-newsletter July 2020
The Covid-19 pandemic, coupled with the world geopolitical
situation that took place in the second quarter of 2020 slows down
the world economy. The growth of gross domestic product (GDP) of
most countries in the world weakened which reflected in the decline
of consumer spending. Covid-19 pandemic influences projections of
economic growth and conditions of public welfare. Indonesia's
economic growth in 2020 is projected to be minus (-) 0.4 percent to
1 percent. Economic recovery is still in a big uncertainty.
“Economic depression cannot be
cured by legislative action or
executive pronouncement.
Economic wounds must be
healed by the action of the cells
of the economic body – the
producers and consumers
themselves.”
~Herbert Hoover.
In This Issue:
• New Normal
• Tax Court
Service
Procedures
• The future of
SMEs
• KIB Webinar
The Long Road to Economy Recovery
2. “The Pessimist Sees Difficulty In Every Opportunity. The Optimist Sees Opportunity In Every Difficulty.”
– Winston Churchill
Wear mask!
Keep your distance. Avoid
the crowd
Wash your hand regularly
Over the past 3 months, the Covid-19 pandemic has caused a lot of
changes. To prevent further spread of the virus, people are encouraged and even
forced to stay at home. Studies, office work and even worship were
recommended to be done at home. Almost all countries urge their citizens not to
move outside the home if there is no urgent interest. Except, indeed for those
who have to go out and their activities cannot be done from home. The change
in community activities has made the business world quiet, such as tourism,
online transportation, retail sales and much more.
However, PSBB is judged not to be applied any longer to maintain
economic balance. Therefore, government implement a new system called “the
new normal”. New normal is a change in behavior to carry out normal activities
but adding health protocol to prevent Covid-19 transmission. It is hoped that by
frequently applying new habits wherever they are, it will become easier and
faster to become the individual and community norms. Thus we can work, study,
worship and other activities safely, healthily and productively.
However, the governor of DKI Jakarta, Mr. Anies Baswedan, has decided
to implement PSBB Transition after considering there are still places in the “red
zone”.
Work Places Public Places
- 50% proportion of employees
allowed to work in the office.
- Divides the work hours of employees
who are in the office at least two
different time groups (minimum gap
of 2 hours) to control capacity when
mobility comes and goes, breaks in
tall buildings.
- The number of participants or people
must be less than 50 percent of the
capacity of the place or room.
- 1 meter distance between people.
- Clean public places with disinfectant
before and after each activity.
Balance your diet
Exercise regularly
The New Normal
3. “It’s Not Whether You Get Knocked Down, It’s Whether You Get Up.” – Vince Lombardi
This pandemic has threw a big hit to some business vectors resulting several industries experience a
drastic decline. Below are some of business sectors affected by this COVID-19 outbreak:
The aviation sector feels the direct impact of the COVID-
19 pandemic. Enclosed in Kompas.com, PT Garuda
Indonesia Tbk (Persero) revealed the threat of
bankruptcy has haunted the national aviation industry.
While sticking to the regulation where aircraft occupancy
rate is very low, a large operational cost is waiting behind
it. Even if the aircraft does not take off, there are still
requirements to do routine maintenance. The threat of
bankruptcy that haunted the airline industry is evidenced
by the bankruptcy of airlines from Thai Airways, Thailand.
Source: nationthailand.com
Incessant movements of restricting activities outside caused the tourism
industry to lose revenue. The tourism industry is facing the pressure of
a COVID-19 pandemic as this outbreak forced business sector to close
temporarily. As a result, 70% of industry players are threatened with
bankruptcy or closed permanently. While unable to operate, tourism
industry players must pay for various things, including employee rights.
As for instance, the travel agents agreed to terminate the employment
of all their contract employees, while permanent employees got
reduction for their salaries.
4. “We may encounter many defeats but we must not be defeated.” – Maya Angelou
Automotive manufacturers in various parts of the
world were forced to close their production
facilities. At the same time, demand for
automotive has fallen sharply as people's
purchasing power has weakened. World car
manufacturers temporarily close some factories
for the safety of workers, this decision was taken
so that stocks do not accumulate in the middle of
declining demand. Based on data from the
Association of Indonesian Automotive Industries (Gaikindo), total car sales during January-March this year
fell 6.9% compared to last year.
The retail industry relies more on their offline selling
than online selling. With the shift in patterns and
behavior of public spending, the retail industry is
experiencing decline. The main problem that haunts the
retail industry is increasingly fierce competition,
coupled with this pandemic that makes many people
afraid to go to shopping. According to Deputy Chairman
of the Indonesian Retail Entrepreneurs Association
(Aprindo), the number of visitors coming to the store decreased by 50 percent. Some sectors are still
growing, such as food and drinks, but ones declining are a lot more. Now that some stores have reopened,
their operational costs are quite large compared with the number of visitors who come.
Hero has closed 26 stores and cut 532 employees
Source: Gaikindo
5. “We may encounter many defeats but we must not be defeated.” – Maya Angelou
The construction service sector as part of economic actors,
also felt a very big impact on the COVID-19 epidemic. The
most pronounced impact of the spread of the corona virus
is the slowing down of projects, starting with the
mobilization of materials, equipment, labor and an
increase in real costs coupled with the strict health
protocol issued by the Ministry of PUPR in the Instruction
of the Minister of Public Works and Public Housing (PUPR)
Number 02 / IN / M / 2020 established on 27 March 2020.
COVID-19 Effect on Construction Industry.
Source: Sihombing, Lukas. (2020). Dampak Covid-19 pada Industri Konstruksi dan Tantangannya Pasca COVID-19 di Indonesia:
Tinjauan dari sisi Manajemen Risiko Proyek, Program dan Portofolio.
Earnings obtained by construction entrepreneurs have decreased significantly, coupled with operational
and non-operational costs such as tax costs. Construction companies that have high levels of debt and low
income reserves can experience liquidity crisis and smaller companies or sub-contractors to lose / go
bankrupt quickly.
1. PERPRES NO. 54 YEAR 2020
Budget reallocation of Rp. 24.53 trillion
2. CABINET MEETING 14 APRIL 2020
Adjustment of the Ministries and Institutions TA Expenditures
of IDR 75.63 trillion or reduced by IDR 44.58 trillion
6. “Success is not final; failure is not fatal: it is the courage to continue that counts.” – Winston Churchill
TAX COURT SERVICE PROCEDURES
After the tax office closed due to Covid-19 pandemic for quite some time, tax court service finally open
their face-to-face services on June 15th
2020. However, not all tax services can be carried out face to face
and there are still some heath protocol applied.
STEPS:
1. Body Temperature <37.3oC
2. Wear mask
3. Maximum of 2 people per
service user services or
administrative proceedings-face
1. Shows notice / subpoenas, screenshots of
RUS, or Assignment Letters for trial service
users
2. Online queue evidence for users of face-to-
face administration services
Form can be downloaded at setpp.kemenkeu and send to:
• LoketA_bandinggugatan@kemenkeu.go.id
Subject : Daftar (Banding/Gugatan)_TanggalHadir
• LoketB_informasi@kemenkeu.go.id
Subject : Daftar Informasi (keperluan)_Tanggal Kedatangan_nama
perusahaan/pemohon
• LoketC_PK@kemenkeu.go.id
Subject : Daftar (PK/KMPK)_TanggalRencanaHadir
Schedule announcements will
be posted on the setPP website
1 day before. Specifically for
Appeals / Lawsuits (Counter A),
if you have not yet received a
schedule, please re-submit the
online queue request
Receipt of Appeal and /
or Lawsuit which due
during the prevention
period as referred to in
SE-11 / PP / 2020.
Appeals and / or
lawsuits that fall the
time after the
prevention period is
sent by POS /
registered expedition
Letters related to Appeals / Lawsuits
(Letter of Appeal Description (SUB) /
Response Letter, Rebuttal, Additional
data / supplementary data,
Declaration of Revocation, Other
letters) will be shipped via registered
POS / expedition.
Application or extension of
Law Attorney Power
Information about tax
dispute and other general.
COUNTER A COUNTER B COUNTER C
SUBMISSION OF
APPEAL / LAWSUIT
INFORMATION SERVICES RECONSIDERATION &
MEMORY REVIEW
SUBMISSION
7. “Every problem is a gift—without problems we would not grow.” – Anthony Robbins
The Ministry of Cooperatives and Small and Medium Enterprises stated that the spread of the corona virus
or Covid-19 has significant impact on small and medium enterprises which has been the backbone of the
economy. It is calculated that there are 56 percent decrement of sales. The hit has been from both supply
and demand sides. Reduction of working hours as well as employees and strict health procedures combine
with customer’s low power on spending has slow down the production.
Instead of stepping back, SMEs should think of this pandemic as the new stepping stone to move forward.
In this period, businesses should be sharp in decision making as there is the needs to adapt and reorganize
their business in this disruptive era. The uncertainty in several areas of the business including finance,
operations, employees, and technology makes the company need to rethink of the strategies applied to
minimize current and future risks. The priority of the company is expected to be altruistic, which is to adjust
to the needs of the community. SMEs should not be afraid on touching new aspect at where the demands
are.
SMEs are expected to adapt to the new transformation which requires using more of digital technology and
less physical contact. Digital technologies will allow SMEs to reach as many potential customers and
networks with a relatively low cost.
The Future of SMEs
8. “Business opportunities are like buses, there’s always another one coming.” – Richard Branson
On the 25th
of June 2020, KIB Consulting held a virtual seminar “Strategi untuk Bertahan dan
Berkembang di New Normal”.
The COVID-19 pandemic, which has taken place since February 2020, has brought more uncertainty to
businesses. This uncertainty affects the economic, physical and mental health of the people. As a result of
the pandemic felt by many parties, including PT. Pan Brothers Tbk. However, the extraordinary enthusiasm
applied by management in the midst of implementing strict Health protocols, in fact makes the problem an
opportunity for the company.
One of the breakthroughs made by PT Pan Brothers Tbk. was product diversification in March 2020 when
they started producing personal protective equipment (PPE), for domestic and export usage.
KIB WEBINAR
“Strategi untuk Bertahan dan Berkembang di New Normal”.
9. “There’s no shortage of remarkable ideas, what’s missing is the will to execute them.” – Seth Godin
From what was explained by Mrs. Anne Patricia Sutanto, the Vice CEO of PT
Pan Brothers Tbk and interactive dialogue with participants, we can draw
conclusions:
1. Think optimistically.
Opportunities are always there, including in every difficult situations.
Companies can interpret opportunities into appropriate strategies to
bring the company to continue to grow
2. Hard work and discipline improve our work, all at every level of
management and workers.
3. Communication with the authorities / government, needs to be done
through appropriate communication channels, for example through
existing business associations, so as to overcome the problems of the
business world that occur, can be used to enter interests and find a
way through agreements that may be made / revised.
4. Use a third party that is asked to find a way out of certain problems,
may be needed in the business world.
Contact Us
Phone:
(62-21) 2929 5870-73
Bambang B. Suwarso
bambang.suwarso@kib-
consulting.com
Rachmat Kurniawan
rachmat@kib-
consulting.com
Yosefine Amelia
yosefine@kib-
consulting.com
Raden Roro Ratna
Indah Wulandari
wulan@kib-
consulting.com
Addresses:
North Jakarta -14450
The Koppel
Building Suite IB.
Jalan Pluit Selatan Raya no. 10
Gold Coast Tower
Eiffel Unit N
Pantai Indah Kapuk
www.kib-consulting.com
Disclaimer:
The facts and opinions stated or expressed in this
publication are for information purposes only, and
are not necessary and/or must not be relied upon as
being to those of the publisher or of the
Institutions for which the contributing authors
work.
Although every part of content has been taken to
ensure the accuracy of the information contained
within this publication, it should not be by any person
relied upon as the basis for taking any action or
making any decision.
KIB Consulting and its representative, cannot be
held liable or otherwise be responsible in any way
for any advice, action taken or decision made on the
basis of the facts, surveys, and opinions stated or
expressed within this publication.
10. “There’s no shortage of remarkable ideas, what’s missing is the will to execute them.” – Seth Godin
PT. Konsultan Indonesia Bersama is a boutique company serving Finance, Business,
Accounting and Tax Advisory since 2008. KIB has been immensely successful in creating
a local business network of small-medium-and-big businesses. We highly adept
intelligent workforce that can help a company achieve their mission-critical projects
and goals. Keeping pace with projects and being on the look-out for every opportunity
to grow with our clients has become our mission statement. KIB commits to bring the
best suited services for our clients and stakeholders.
All of our resources are multifaceted and come with years of commended
performance. Project completion rate of our consultants is 97%, 3% is attributed to
unforeseen situations like changes of clients’ decision issues, natural disaster, etc. We
appreciate the experience that our team bring and together we thrive to grow and
prosper together.
About Us
Tax and Custom Consulting
Diagnostic Review
Planning
Compliance
Dispute
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Objection
Appeal
Tax ruling
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Business Consulting
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Due diligence:
Operational & Legal
Accounting & Tax
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Business & Asset Appraisal
Transfer Pricing Documentation
(TP-Doc)
Company Setup & Liquidation
Copyrights & Patent Dispute
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Actuarial report (PSAK 24)
Accounting SaaS Migration
with Jurnal.id (Mekari)