Indonesia’s Financial Record-Keeping Requirements: A Guide for Businesses

As a business operating in Indonesia, it is essential to understand the country’s financial record-keeping requirements to avoid potential penalties and ensure compliance with regulatory standards.

Who Needs to File Annual Financial Statements?

Only certain types of companies are obligated to file annual financial statements (Laporan Keuangan Tahunan Perusahaan/LKTP) in Indonesia. These include:

• Limited liability companies that meet specific criteria
• Foreign companies operating in Indonesia
• Government-owned companies
• Regional companies

Submission Requirements and Timeline

Companies must submit their annual financial statements within six months of the end of the yearbook period through the Ministry of Trade’s website. The processing time typically takes around five working days.

Consequences of Non-Compliance

Failure to comply with accounting standards and filing requirements can result in serious consequences, including:

• Written warnings
• Revocation of business permits
• Recommendations for permit revocation

How to Ensure Compliance

To avoid these penalties and ensure compliance with Indonesia’s financial record-keeping requirements, businesses are advised to engage the services of experienced financial experts. Cekindo, a reputable provider of business registration and accounting services, can assist companies in preparing and submitting their annual financial statements to the authorities.

Get Help from Experienced Professionals

For more information on how Cekindo can help your company navigate Indonesia’s complex financial regulations, please contact us today. Our team of experts is dedicated to providing personalized support and guidance to ensure your business remains compliant with all relevant regulations.