Thread: Bali accountants

Hi

i am currently involved with setting up a business in Bali.We are currently buying all office needs, furniture,comps etc.

As we dont have a company bank account as yet i am using my own money and keeping receipts.

Will i be able to claim all these products through the business once it is up and running?

Thanks

Gary

like any good accountant would say "Keep the receipts" - when the time comes, charge it all to Petty Cash Expenditures, problem solved!!

What type of company are you setting up????

We have an office business.

Im just curious if i can claim depreciation on all the equipment we are buying.

Originally Posted by gary_leighton

Im just curious if i can claim depreciation on all the equipment we are buying.

Yes!!

You can pay cash for all your office equipments, furniture, etc. Keep the receipts and if it is possible put your Company Name on all your receipts.

Your accountant will need to put any items you purchase for your business on the balance sheet as assets which will depreciate with time.

Originally Posted by gary_leighton

We have an office business.

Im just curious if i can claim depreciation on all the equipment we are buying.

In Indonesia it depends on what type of company you have setup, Its not anything like Australia. If you have setup a PMA company I think you will pay tax on your turnover not your profit, CV pay monthly on there profit & UD pay what ever they think.

Thanks guys for all the info.

We are hoping to be up and running in three weeks.

Originally Posted by Fred2

In Indonesia it depends on what type of company you have setup, Its not anything like Australia. If you have setup a PMA company I think you will pay tax on your turnover not your profit, CV pay monthly on there profit & UD pay what ever they think.

The OP is asking whether he can depreciate all the equipments (Fixed Assets) he is purchasing for his office. It is a common accounting practice anywhere in the world. Nothing to do with paying taxes whatsoever.

jkbali this is Indonesia, it is nothing like the rest of the world. you should know as you say you have a business here.