This document provides an overview of taxation in Indonesia, including various taxes that companies and individuals need to comply with. It discusses corporate income tax, individual income tax, VAT, luxury goods sales tax, customs and excise, and tax losses. Corporate income tax is generally 25% but is lower for certain public companies and small businesses. Individual income tax uses a progressive rate schedule up to 30%. VAT is charged at 10% for most goods and services. Luxury goods are also subject to an additional sales tax from 10-125%. [/SUMMARY]
There are a few things you should know If you are considering moving to Portugal.
This updated presentation answers the most frequently asked questions on the Portuguese Non-Habitual Tax Resident regime. Our presentation does not contemplate changes envisaged by the proposed Budget Law for 2023 (an update will be made when such Law is approved).
The Portuguese tax regime for non-habitual residents (NHR) is motivating high net worth individuals, pensioners and high value added professionals like digital nomads to relocate to Portugal, either on a permanent or on a temporary and expatriate basis. The regime is granted to individuals who become resident for tax purposes in Portugal without having been so in the five years preceding its acquisition. Non-habitual resident individuals may enjoy such status for a ten-year period, after which they will be taxed under the standard regime. This regime may grant an exemption on foreign source income as well as a limited taxation on Portuguese domestic source income deriving from high value added activities. Entrants into the NHR regime that became Portuguese tax residents after April 1st 2020 are subject to a flat tax rate of 10% on foreign-sourced pensions (instead of the previous exemption), as well as on other payments, such as pre-retirement benefits and "lump-sum" payments from pension funds and similar retirement schemes. With effect as from January 1st, 2022, Sweden - following the precedent of Finland - terminated its tax treaty with Portugal. RPBA has revised, updated and developed its newsletter, explaining this regime in great detail.
The Portuguese non-habitual tax resident (NHR) regime is granted to individuals who become resident for tax purposes in Portugal. This regime may grant an exemption on certain foreign source income as well as a 20% tax rate on employment and self-employment income deriving from high value-added activities during 10 years. Entrants into the NHR regime that became Portuguese tax residents after April 1st 2020 are subject to a flat tax rate of 10% on foreign-sourced pensions (instead of the previous exemption), as well as on other payments, such as pre-retirement benefits and "lump-sum" payments from pension funds and similar retirement schemes. It targets non-resident individuals who are likely to establish residence in Portugal. View a few standard case studies on this RPBA’s infographic.
There are a few things you should know If you are considering moving to Portugal.
This updated presentation answers the most frequently asked questions on the Portuguese Non-Habitual Tax Resident regime. Our presentation does not contemplate changes envisaged by the proposed Budget Law for 2023 (an update will be made when such Law is approved).
The Portuguese tax regime for non-habitual residents (NHR) is motivating high net worth individuals, pensioners and high value added professionals like digital nomads to relocate to Portugal, either on a permanent or on a temporary and expatriate basis. The regime is granted to individuals who become resident for tax purposes in Portugal without having been so in the five years preceding its acquisition. Non-habitual resident individuals may enjoy such status for a ten-year period, after which they will be taxed under the standard regime. This regime may grant an exemption on foreign source income as well as a limited taxation on Portuguese domestic source income deriving from high value added activities. Entrants into the NHR regime that became Portuguese tax residents after April 1st 2020 are subject to a flat tax rate of 10% on foreign-sourced pensions (instead of the previous exemption), as well as on other payments, such as pre-retirement benefits and "lump-sum" payments from pension funds and similar retirement schemes. With effect as from January 1st, 2022, Sweden - following the precedent of Finland - terminated its tax treaty with Portugal. RPBA has revised, updated and developed its newsletter, explaining this regime in great detail.
The Portuguese non-habitual tax resident (NHR) regime is granted to individuals who become resident for tax purposes in Portugal. This regime may grant an exemption on certain foreign source income as well as a 20% tax rate on employment and self-employment income deriving from high value-added activities during 10 years. Entrants into the NHR regime that became Portuguese tax residents after April 1st 2020 are subject to a flat tax rate of 10% on foreign-sourced pensions (instead of the previous exemption), as well as on other payments, such as pre-retirement benefits and "lump-sum" payments from pension funds and similar retirement schemes. It targets non-resident individuals who are likely to establish residence in Portugal. View a few standard case studies on this RPBA’s infographic.
O regime fiscal português para residentes não habituais está a motivar indivíduos com significativo património líquido, pensionistas e profissionais de elevado valor acrescentado a mudarem-se para Portugal, de forma permanente ou temporária, como expatriados. O regime é concedido a pessoas que se tornam residentes para efeitos fiscais em Portugal, sem o terem sido nos cinco anos anteriores. Os residentes não habituais podem usufruir desse estatuto por um período de dez anos, após o qual serão tributados pelo regime regra. Este regime permite isentar ou tributar a uma taxa reduzida o rendimento de fonte estrangeira, bem como tributar de forma limitada o rendimento de fonte portuguesa decorrente de actividades de elevado valor acrescentado. A RPBA possui um profundo conhecimento e experiência sobre este regime.
Tuan S.Holmes memulai Polycon Lens Company bertahun-tahun yang lalu untuk memproduksi lensa acrylic sebagai bahan utama kaca pembesar. Perusahaan telah berkembang dengan baik dan penasihat pajak domestik Tuan Holmes membantu perusahaan mengurangi jumlah pajak tahunan perusahaan dengan bermacam-macam metode. Contohnya, memastikan perusahaan dikenai pajak atas laba yang kecil, meraih semua dana dan intensif investasi, mendepresiasi aset perusahaan dalam jumlah maksimum yang diizinkan peraturan perpajakan, dan pengurangan-pengurangan lain yang memungkinkan.
Perundang-undangan perpajakan perusahaan di sebagian besar negara berisi ketentuan laba yang dikenai pajak dapat dikurangkan sesuai dengan keadaan tertentu dan konsultan perencanaan pajak yang baik diperlukan untuk memaksimumkan keuntungan serta kelonggaran yang diizinkan oleh hukum pajak perusahaan domestik.
Bagian ini secara prinsip membahas mengenai kemampuan perusahaan domestik untuk memaksimumkan laba setelah pajak untuk kegiatan diluar negeri, diasumsikan kesempatan perencanaan pajak dihasilkan dari kegiatan domestik murni yang dimanfaatkan sepenuhnya.
Real estate, as an immovable factor, tends to be overtaxed in most countries and Portugal is no exception. Tax structuring and optimizing is crucial to minimize total acquisition costs and maximize investment returns.
RPBA’s updated presentation deals with this challenging topic incorporating the latest developments, including tax incentives on rehabilitation, the OECD Multilateral Instrument rules on “real estate rich” companies and also the brand new SIGI company (the Portuguese equivalent of the REIT – Real Estate Investment Trust).
The interaction between the extensive Portuguese Corporate Income Tax Reform of 2014 with the regime of the International Business Center of Madeira or Madeira Free Zone provides many interesting tax planning opportunities, namely an effective general Corporate Income Tax rate of 5% or a specific effective rate of 0,75% for certain Intellectual Property income. RPBA has fully updated its extensive presentation on this subject.
The Portuguese non-habitual tax resident regime is granted to individuals who become resident for tax purposes in Portugal. This regime may grant an exemption on certain foreign source income as well as a 20% tax rate on employment and self-employment income deriving from high value added activities during 10 years. It targets non-resident individuals who are likely to establish residence in Portugal. View a few standard case studies on this RPBA’s infographic.
Makalah Perpajakan Tax Planing PPh Orang pribadi ini di harapakan dapat bermanfaat untuk Pedoman penghitungan kewajiban perpajakan untuk orang pribadi. untuk makalah yang lainnya silahkan di unduh di gudang makalah
O regime fiscal português para residentes não habituais está a motivar indivíduos com significativo património líquido, pensionistas e profissionais de elevado valor acrescentado a mudarem-se para Portugal, de forma permanente ou temporária, como expatriados. O regime é concedido a pessoas que se tornam residentes para efeitos fiscais em Portugal, sem o terem sido nos cinco anos anteriores. Os residentes não habituais podem usufruir desse estatuto por um período de dez anos, após o qual serão tributados pelo regime regra. Este regime permite isentar ou tributar a uma taxa reduzida o rendimento de fonte estrangeira, bem como tributar de forma limitada o rendimento de fonte portuguesa decorrente de actividades de elevado valor acrescentado. A RPBA possui um profundo conhecimento e experiência sobre este regime.
Tuan S.Holmes memulai Polycon Lens Company bertahun-tahun yang lalu untuk memproduksi lensa acrylic sebagai bahan utama kaca pembesar. Perusahaan telah berkembang dengan baik dan penasihat pajak domestik Tuan Holmes membantu perusahaan mengurangi jumlah pajak tahunan perusahaan dengan bermacam-macam metode. Contohnya, memastikan perusahaan dikenai pajak atas laba yang kecil, meraih semua dana dan intensif investasi, mendepresiasi aset perusahaan dalam jumlah maksimum yang diizinkan peraturan perpajakan, dan pengurangan-pengurangan lain yang memungkinkan.
Perundang-undangan perpajakan perusahaan di sebagian besar negara berisi ketentuan laba yang dikenai pajak dapat dikurangkan sesuai dengan keadaan tertentu dan konsultan perencanaan pajak yang baik diperlukan untuk memaksimumkan keuntungan serta kelonggaran yang diizinkan oleh hukum pajak perusahaan domestik.
Bagian ini secara prinsip membahas mengenai kemampuan perusahaan domestik untuk memaksimumkan laba setelah pajak untuk kegiatan diluar negeri, diasumsikan kesempatan perencanaan pajak dihasilkan dari kegiatan domestik murni yang dimanfaatkan sepenuhnya.
Real estate, as an immovable factor, tends to be overtaxed in most countries and Portugal is no exception. Tax structuring and optimizing is crucial to minimize total acquisition costs and maximize investment returns.
RPBA’s updated presentation deals with this challenging topic incorporating the latest developments, including tax incentives on rehabilitation, the OECD Multilateral Instrument rules on “real estate rich” companies and also the brand new SIGI company (the Portuguese equivalent of the REIT – Real Estate Investment Trust).
The interaction between the extensive Portuguese Corporate Income Tax Reform of 2014 with the regime of the International Business Center of Madeira or Madeira Free Zone provides many interesting tax planning opportunities, namely an effective general Corporate Income Tax rate of 5% or a specific effective rate of 0,75% for certain Intellectual Property income. RPBA has fully updated its extensive presentation on this subject.
The Portuguese non-habitual tax resident regime is granted to individuals who become resident for tax purposes in Portugal. This regime may grant an exemption on certain foreign source income as well as a 20% tax rate on employment and self-employment income deriving from high value added activities during 10 years. It targets non-resident individuals who are likely to establish residence in Portugal. View a few standard case studies on this RPBA’s infographic.
Makalah Perpajakan Tax Planing PPh Orang pribadi ini di harapakan dapat bermanfaat untuk Pedoman penghitungan kewajiban perpajakan untuk orang pribadi. untuk makalah yang lainnya silahkan di unduh di gudang makalah
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Welcome to our guide for Taxation in Vietnam. In this guide, we hope to provide you with an overview of the key aspects of Taxation in Vietnam and answer many of the questions that foreign businesses and entrepreneurs have when making their first venture into the Vietnamese market.
Most business activities and investments in Vietnam will be affected by the following taxes:
Corporate income tax;
Various withholding taxes;
Capital assignment profits tax;
Value added tax;
Import duties;
Personal income tax of Vietnamese and expatriate employees;
Social insurance, unemployment insurance and health insurance contributions.
There are various other taxes that may affect certain specific activities, including:
Special sales tax;
Natural resources tax;
Property taxes;
Export duties;
Environment protection tax.
All these taxes are imposed at the national level. There are no local, state or provincial taxes.
Income Tax in India, Income taxes are a source of revenue for governments. They are used to fund public services, pay government obligations, and provide goods for citizens.
The first Income-tax Act in India was introduced in 1860 on account of financial stress owing to the mutiny of 1857 and was to be in force for a period of 5 years.
The Income Tax Act 1961 has been brought into force on 1 April 1962. It applies to the whole of India (including Jammu and Kashmir).
An Income Tax in India is a direct tax that a government imposes on the annual income and profits earned by individuals and entities. It is calculated on the net taxable income of a person or entity for the applicable financial/fiscal year, which starts from the 1st of April of a year and ends on the 31st of March of the next calendar year.
Impact of taxation on cross border investment Isha Joshi
Consequent to the implemented economic liberalisation in India during the 1990s, substantial international investment activity began within the Indian capital markets and through corporate vehicles with an increasingly vibrant fervour. In fact, today, Foreign Institutional Investors (FIIs) play a crucial role in the liquidity, growth and vitality seen in Indian capital markets. Simultaneously, along with increasing FII activity, as a result of the favourable economic and political climate, India also witnessed an increasing quantum of Foreign Domestic Investment (FDI).
The regulation of these investment channels and instruments was at the front and centre of economic policy debate, a part of which revolves around taxation. There is undoubtedly a proximate and intelligible nexus between taxation and the employment of these investment tools. A taxation regime that is favourable can work in effectively attracting more international investment which in turn would enhance market liquidity, activity, and growth.1 While FIIs and FDIs may appear to be similar investment channels, for the most part, they serve entirely different objectives, and operate in substantially different manners and are subject to different regulatory regimes in terms of exchange, economic and taxation policy.
In the coming sections of this paper, the authors have attempted to analyse several aspects of FII and FDI taxation in India. The first section delineates the differences in FIIs and FDIs, their market strategy, modus operandi, and objectives, while ascertaining what exactly these investment channels imply and the various investment vehicles that may be employed by foreign actors.
The subsequent section of the paper outlines the tax regime applicable to such FDIs and FIIs, depending on the organisational scheme and objective of the business vehicle so employed for the investment.
Given that FIIs and FDIs essentially involve a foreign element, the question of double taxation is one which necessarily requires to be addressed. To that end, in the third section of this paper, the authors have looked at Double Taxation Avoidance Agreements (DTAAs) (Tax Treaties) in the context of FIIs and FDIs.
This word file contain all information regarding taxation in india, income tax returns, types of income tax , direct tax, indirect tax, wealth tax, income tax ,excise duty , which helps you to gain knowledge about taxation in brief, and also helps you in making internship report on taxation or income tax.
Singapore is known to have one of the lowest taxes globally.
Among the taxes levied by the city-state is the Goods and Services Tax (GST). This type of tax is paid when money is spent on goods and services including imports. A multi-stage tax, the GST is collected at all stages of the production and distribution chain.
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
Car Accident Injury Do I Have a Case....Knowyourright
Every year, thousands of Minnesotans are injured in car accidents. These injuries can be severe – even life-changing. Under Minnesota law, you can pursue compensation through a personal injury lawsuit.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
NATURE, ORIGIN AND DEVELOPMENT OF INTERNATIONAL LAW.pptxanvithaav
These slides helps the student of international law to understand what is the nature of international law? and how international law was originated and developed?.
The slides was well structured along with the highlighted points for better understanding .
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
Military Commissions details LtCol Thomas Jasper as Detailed Defense CounselThomas (Tom) Jasper
Military Commissions Trial Judiciary, Guantanamo Bay, Cuba. Notice of the Chief Defense Counsel's detailing of LtCol Thomas F. Jasper, Jr. USMC, as Detailed Defense Counsel for Abd Al Hadi Al-Iraqi on 6 August 2014 in the case of United States v. Hadi al Iraqi (10026)
ASHWINI KUMAR UPADHYAY v/s Union of India.pptxshweeta209
transfer of the P.I.L filed by lawyer Ashwini Kumar Upadhyay in Delhi High Court to Supreme Court.
on the issue of UNIFORM MARRIAGE AGE of men and women.
ALL EYES ON RAFAH BUT WHY Explain more.pdf46adnanshahzad
All eyes on Rafah: But why?. The Rafah border crossing, a crucial point between Egypt and the Gaza Strip, often finds itself at the center of global attention. As we explore the significance of Rafah, we’ll uncover why all eyes are on Rafah and the complexities surrounding this pivotal region.
INTRODUCTION
What makes Rafah so significant that it captures global attention? The phrase ‘All eyes are on Rafah’ resonates not just with those in the region but with people worldwide who recognize its strategic, humanitarian, and political importance. In this guide, we will delve into the factors that make Rafah a focal point for international interest, examining its historical context, humanitarian challenges, and political dimensions.
Debt Mapping Camp bebas riba to know how much our debt
Taxation Policy of Indonesia
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Subject: Taxation Planning
Submitted to: Prof. Darshana kakkar
Submitted by: 15015 Rushita Bhalala
15094 Setu Parikh
15169 Dhaivat Trivedi
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TABLE OF CONTENT
Sr. No. Particulars Page No.
1. Introduction 3
2. Corporate Income Tax 4
3. Individual Income Tax 5
4. Value-Added Tax (VAT) 7
5. Luxury-Goods Sales Tax 8
6. Customs & Excise 8
7. Tax Losses 8
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TAX SYSTEM IN INDONESIA
Introduction
There is a wide variety of taxes in Indonesia that companies, investors, and
individuals need to comply with. This includes corporate income tax, individual
income tax, withholding taxes, international tax agreements, value-added tax (VAT),
luxury-goods sales tax, customs & excise, tax concessions, and land & building tax.
Our tax section aims to provide detailed information about taxes that are in effect and
should be considered when investing in Indonesia.
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Corporate Income Tax
A company is subject to the tax obligations set by the Indonesian government if
the company's domicile is in Indonesia. Similarly, a foreign company that has a
(permanent) establishment in Indonesia - and carries out business activities
through this local entity - falls under the Indonesian tax regime. If the foreign
company does not have a permanent establishment in Indonesia but does
generate income through business activities in Indonesia, then it needs to settle
its tax liabilities through withholding of the tax by the Indonesian party paying
the income.
In general, a corporate income tax rate of 25 percent applies in Indonesia.
However, there are several exemptions:
1) Companies listed on the Indonesia Stock Exchange (IDX) that offer at least 40
percent of their total share capital to the public obtain a 5 percent tax cut (hence
a tax rate of 20 percent applies for these public companies).
2) Small and medium-enterprises with an annual turnover below IDR 50 billion
(approx. USD $3.8 million) obtain a 50 percent tax discount (imposed proportionally
on taxable income of the part of gross turnover up to IDR 4.8 billion). In 2013,
Indonesia's Finance Ministry issued a regulation that set a one percent income tax
tariff on individual and institutional taxpayers with an annual gross turnover below
IDR 4.8 billion (approx. USD $363,636).
Corporate Income Tax Tax Rate
normal rate 25%
Public company with >40% of its shares traded on the IDX 20%
Companies with a gross turnover below IDR 50 billion 12.5%
Companies with a gross turnover below IDR 4.8 billion 1%
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Individual Income Tax
If an individual full fills any of the following conditions, then he/she is regarded a tax
resident in Indonesia (except if a tax treaty overrides these rules):
the individual lives in Indonesia;
the individual is in Indonesia for more than 183 days within a 12-month period;
The individual is in Indonesia during a fiscal year and intends to reside in
Indonesia.
Meanwhile, non-resident individuals are subject to a 20 percent withholding tax on
Indonesia-sourced income.
Nearly all income earned by individual taxpayers in Indonesia is subject to income
tax. The following progressive rates are charged to taxable annual income:
Individual Income Tax Tax Rate
• Up to IDR 50 million 5%
• Over IDR 50 million to IDR 250 million 15%
• Over IDR 250 million to IDR 500 million 25%
• Over IDR 500 million 30%
A large part of individual income tax is collected through withholding by employers.
Employers withhold income tax on a monthly basis from the salaries and other
compensation paid to the employees. In case the employee is a resident taxpayer
(living in Indonesia), the above-mentioned tax rates apply. If the individual is a non-
resident taxpayer, the withholding tax is 20 percent of the gross amount (in case of a
tax treaty the amount may vary).
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Withholding Tax (for payments to residents) Tax Rate
For interest, dividends & royalties 15%
For services 2%
For land and building rental (final tax) 10%
These withholding taxes are considered corporate tax prepayments
Withholding tax calculated on sales/revenue is considered a final tax
Withholding Tax (for payments to non-residents) Tax Rate
Normal rate (can be reduced by using tax treaty provisions, or exempt
services that qualify as business profits)
20%
Annual non-taxable income was originally set at IDR 36 million (approx. USD
$2,727) in 2016. However, in April 2016 Finance Minister Bambang Brodjonegoro
said the government plans to raise non-taxable income by 50 percent to IDR 54
million (approx. USD $4,090) in a bid to strengthen people's purchasing power and
encourage household consumption.
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Value-Added Tax (VAT)
Value Added Tax (VAT) involves the transfer of taxable goods or the provision of
taxable services in Indonesia. Events/services those are taxable:
Deliveries of taxable goods in by an enterprise;
Import of taxable goods;
Deliveries of taxable services by an enterprise;
Use or consumption of taxable intangible goods/services originating from
abroad;
Export of taxable goods (tangible and intangible) or services by a taxable
enterprise.
Value-Added Tax (VAT) Tax Rate
Normal rate 10%
Generally, the VAT rate is 10 percent in Indonesia. However, the exact rate may be
increased or decreased to 15 percent or 5 percent according to government regulation.
VAT on the export of taxable tangible and intangible goods as well as export of
services is fixed at 0 percent. Certain limitations for the zero-rated VAT apply to
exports of services.
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Luxury-Goods Sales Tax
In addition to VAT, Indonesia has a so-called luxury-goods sales tax (LGST), a tax
that was introduced in the Suharto era and meant to create a more just society. This
tax implies that the deliveries or imports of certain manufactured taxable goods - for
example luxury cars, apartments and houses - are subject to an extra tax. Currently,
LGST rates are set between 10 - 125 percent (the law allows for a maximum LGST
rate of 200 percent).
Customs & Excise
Although Indonesian law allows import duties to range between 0 and 150 percent (of
the customs value of the imported good, the highest rate currently set is at 40 percent.
Due to the globalizing economy, Indonesia has signed a number of free-trade
agreements, effectively scrapping or significantly lowering import duty rates.
However, for protectionist strategies the government still applies high rates for
specific goods. There are also anti-dumping import duty rates applicable on certain
products from certain countries.
Tax Losses Can be carried forward for 5 years