Indonesia company renewal in 2024

Since 2003, Healy Consultants Group assists multi-national Clients timely accurately and completely discharge their monthly and quarterly and annual legal, accounting and tax obligations.

• Indonesia company renewal steps

  • One month before statutory deadlines, Healy Consultants Group sends a reminder e-mail to our Client;
  • Our Client supplies accounting and tax information to our in-house Legal & Compliance & Accounting & Tax Department;
  • Immediately thereafter, our team timely submits quality reports to the Indonesian government.

• Independent statutory annual audit

  • The following entities must annually prepare audited financial statements:
    • Publicly-listed companies;
    • Companies involved in accumulating funds from the public (such as banks and insurance companies);
    • Companies issuing debt instruments;
    • Compnies with assets of Rp50 billion or more;
    • Bank debtors whose financial statements are required by the bank to be audited;
    • Certain types of foreign entities engaged in business in Indonesia that are authorised to enter into agreements;
    • Certain types of state-owned enterprise.
  • The audit must be performed by a qualified auditor to standards set out by the Institute of Indonesia Chartered Accountants or the Financial Services Authority (for publicly-listed companies);
  • The above entities must submit their annual financial statements to the Ministry of Trade;
  • Healy Consultants Group will assist in preparing audited financial statements for your Indonesian company, in compliance with regulations.

• Accounting and Tax Considerations

  • A corporate tax return must be lodged within four months of the financial year-end. The return is submitted to the local tax office. An Indonesian company can choose the dates of its financial year;
  • Indonesia tax-resident companies, along with foreign companies’ Permanent Establishments (PE), can pay their tax bill to the State Treasury through a designated local bank;
  • A 10% value added tax (VAT) is typically levied on the provision of goods and services in Indonesia. There is no VAT on exported goods and certain exported services. Imported goods are subject to 10% VAT;
  • Withholding tax is levied on a variety of payments to resident and non-resident corporations and individuals. Healy Consultants’ accounting and tax team can advise on a case by case basis;
  • Other than passive income such as interests, dividends, and royalties, corporate income tax is levied on i) imports ii) sale of goods to the government iii) sale or purchase of luxury items and iv) payment of certain services.

• Legal and Compliance

  • Under the Indonesia Companies Law 2007, the incorporation of an Indonesian limited liability company can be completed by individuals;
  • The basic requirements are at least one director resident in Indonesia, and two shareholders, who can be any nationality.
  • Failure to file an annual return is an offence, and attracts a penalty of 2% per month on the tax owed, plus a fine of Rp2 million.

• Indonesia company renewal fees

  Healy Consultants Group’s fees for Indonesia company renewal are US$2,300 for an active company, and US$1,950 for a dormant company.