Alfons Chandrawira’s Post

Indonesia’s new #transferpricing guidelines are enshrined in the Minister of Finance Regulation 172/2023 (“MoFR-172”). There are changes to how the TP process, the Mutual Agreement Procedure and the Advance Pricing Arrangements are implemented in #Indonesia, with the aim of enhancing clarity and fairness in #business #transactions. This alert written by WTS Taxise Associate Principal Christine Schwarzl and consulthink Partner Tomy Harsono reviews the updated, consolidated TP guidelines for Indonesia and compares the guidelines to the #Singapore TP guidelines - with reference to the IRAS TP Guidelines (Sixth Edition). Read more: https://lnkd.in/gHbVjvtp WTS Global

Most updated Indonesia TP regulation- and comparative analysis with Singapore TP regulation. Thanks Christine Schwarzl and Eugene Lim for this collaboration under WTS Global Taxise Asia LLC (WTS Taxise) consulthink

👉 Webinar coming up: Navigating Transfer Pricing audits in Vietnam ⚠ With Vietnam’s evolving regulatory framework and stringent tax enforcement measures, navigating the intricacies of transfer pricing has become significantly more challenging. 🌐 Multinational Enterprises (MNEs) face heightened scrutiny from Vietnamese tax authorities, who closely examine intercompany transactions to ensure they align with the Vietnamese transfer pricing regulations. This scrutiny often leads to transfer pricing audits which adds a layer of complexity to MNEs operating within its borders. ⚙ In line with this, we invite you to attend our webinar where we will discuss how to navigate a transfer pricing audit in Vietnam. Specifically, we will discuss the transfer pricing audit procedure, challenges, and how to manage the audit process. 💡 The key takeaway from the webinar would be having a sound understanding of how to mitigate transfer pricing risks and manage a transfer pricing audit in Vietnam. 👇 Sounds like this is just what you´ve been looking for? Great! Get yourself registered free of charge: https://lnkd.in/eC668TMX Looking forward to having you join us! #webinar #transferpricing #audit #experts Priya Selvanathan Michael Wekezer Phuong Tu Thai

In Malaysia’s Budget 2024 announcement, the Ministry of Finance, Malaysia has announced that it is mandatory for all taxpayers to enforce e-invoice. What does this mean exactly? E-invoicing revolutionizes how businesses handle transactions, replacing traditional paperwork with digital files specified by the Inland Revenue Board Malaysia (IRBM). This move not only boosts efficiency but also aligns perfectly with the objectives outlined in the 12th Malaysia Plan. Important dates to note: 📆 1 August 2024: Deadline for companies with revenues exceeding RM100 million 📆 1 January 2025: Deadline for companies with revenues ranging from RM25 million to RM100 million 📆 1 July 2025: Deadline for all other companies to comply At SCS Global Malaysia, we're committed to supporting our clients through this transition. Our comprehensive e-invoicing services include: 1. Gap analysis to assess your current state 2. Tailored action plans for seamless implementation 3. Collaboration with IT solution providers for system preparation and implementation Feel free to reach us if you have any questions or would like to know more about our e-invoicing services. #DigitalTransformation #EInvoicing

New Transfer Pricing Documentation Requirements in Indonesia Stay compliant with the latest regulations! Indonesia's Ministry of Finance (MoF) issued Regulation No. 172 of 2023, which updates transfer pricing documentation requirements. Key points are: 1. Taxpayers with "special relationships" (affiliated parties) must create transfer pricing documentation to demonstrate arm's length transactions. 2. Three types of documents required: Master File: Background information on the taxpayer and its related parties. Local File: Details on specific transactions with related parties. Country-by-Country Report (CbCR): Provides consolidated financial information for the entire multinational group. Do you need help about transfer pricing documentation? Contact Us for Free Consultation! #transferpricingdocumentation #tax #ideatax

How are Indonesia's new transfer pricing guidelines (MoFR 172) perceived on the international stage? Indonesia's recently introduced transfer pricing guidelines, known as MoFR 172/2023, have sparked interest and discussion on the international stage. Formulated by the Ministry of Finance, these regulations aim to provide more clarity and encourage businesses to engage in fair and transparent transactions. Internationally, the perception of MoFR 172/2023 varies. From the TaxPrime webinar titled "Navigating the New Indonesian Transfer Pricing Guidelines MoFR 172/2023," Steve M. Kim, Esq. and Yuri Numata perceived it as a positive step towards enhancing transparency and fair taxation in Indonesia's business landscape. They are seen as aligning Indonesia's transfer pricing regulations with international standards, fostering greater confidence among foreign investors. Watch our full recorded webinar here: https://lnkd.in/gS8sTJeW #taxologist #taxprime #transferpricing #PMK172 #internationaltax

New Course Announcement: E-Invoicing Implementation in Malaysia As Malaysia moves towards digitalization in tax compliance, it is crucial for businesses to stay ahead by adopting the e-invoicing system. Our comprehensive 2-day course is designed to provide you with the knowledge and tools necessary to navigate this transition effectively. Key Highlights: 🔹In-depth understanding of Malaysia’s e-invoicing system and its impact on businesses 🔹Detailed exploration of e-invoicing models via the MyInvois Portal and API 🔹Insights into key transaction changes and regulatory requirements under Finance Bill 2023 (Sections 82B & 82C) 🔹Practical steps for assessing and implementing e-invoicing in your organization Who Should Attend: Business owners, managers, financial professionals, and anyone involved in tax compliance and business operations. Course Schedule: Day 1: Introduction to E-Invoicing and Implementation Models Day 2: Advanced E-Invoice Transaction Changes and Readiness Assessment Ensure your business is fully prepared for the new e-invoicing landscape in Malaysia. Register today to secure your spot and gain valuable insights into this critical transformation. Contact us for a FREE quote via WhatsApp at +6019-778-4811 For more details, visit: https://lnkd.in/grCqyB4i #EInvoicing #DigitalTaxCompliance #BusinessTransformation #FinanceBill2023 #MyInvois #TaxInnovation #BusinessStrategy #ProfessionalDevelopment #ComplianceReady

🚀 E-invoicing News for Businesses in Malaysia! 🚀 Starting August 2024, e-invoicing starts becoming mandatory in Malaysia. We're here to help you get prepared! 📅✨ Our latest blog article dives deep into everything you need to know about e-invoicing in Malaysia, including the newly launched MyInvois system that's now ready for use. 🔍 What you'll learn: Details about the e-invoicing mandate in Malaysia How you can use the MyInvois system What e-invoicing formats and document types are required What is the timeline for mandatory use of e-invoicing in Malaysia What business transactions are covered and how are export and import operations handled 👉 Read the full article here: https://lnkd.in/dt4UR4yb Avalara E-Invoicing and Live Reporting supports e-invoicing via MyInvois in Malasia and is accredited as a Peppol Access Point in Malaysia. https://lnkd.in/dsmpRjSX #EInvoicing #MyInvois #MalaysiaBusiness #DigitalTransformation #Accounting #Compliance #Finance

Transfer pricing in Indonesia: an overdue revamp Charles Setia Oetomo, Felic Setiawan, and Gomgom Johannsen Kevan of GNV Consulting provide a guide to Indonesia’s new transfer pricing regulation, what to expect, and how taxpayers may prepare for its application http://spr.ly/6046Xvnbo

Understanding the accounting regime and requirements in Vietnam can confuse investors, and obtaining clarity with a clear plan for compliance and integration is critical. Looking at the intersection between VAS and IFRS, and understanding the integration between Tax and VAS, will give an initial foundation for planning an appropriate accounting system, procedures and processes. Contact Alitium to discuss accounting and compliance planning and support: www.alitium.com vietnam@Alitium.com Follow Alitium on Linkedin for regular releases on Vietnam Download the PDF publication here: https://lnkd.in/gqvmF5HM #Vietnam #Alitium #Compliance #Tax #Accounting