Tuesday, December 18, 2007

Individual Taxpayers Categorization

According to the CONSOLIDATION OF LAW OF THE REPUBLIC OF INDONESIA NUMBER 6 OF 1983 CONCERNING GENERAL PROVISIONS AND TAX PROCEDURES AS LASTLY AMENDED BY LAW NUMBER 16 OF 2000 (known as Undang-undang KUP), individual taxpayers categorized in two :

  1. Resident
    A resident tax subject shall be:
    • An individual residing in Indonesia, or
    • An individual who is present in Indonesia for more than 183 days in any 12 month period, or
    • An individual who is present in Indonesia in a tax year with an intention to reside in Indonesia.

  2. Non-Resident
    A non-resident tax subject shall be:
    An individual not residing in Indonesia or who is present in Indonesia for not more than 183 days in any 12 month period.
    • who is conducting a business or carrying out activities through a fixed based in Indonesia.
    • who derives income from Indonesia other than from conducting business or carrying out activities through a fixed based in Indonesia.
A taxpayer is an individual or a body which, pursuant to the provisions in the tax law, is required to fulfill tax obligations, including tax collection or tax withholding of certain taxes.
(Article 1 paragraph (1) Law No. 16 Year 2000).

Monday, December 17, 2007

Insurance policy

I am searching for anything about insurance, lately. Because i've joined an insurance company about two weeks later. And i began to compare the insurance company with others, that includes the policy, the products, the realibility, the rates and other more. I want to know what insurance is all about.

So, i start to browse the internet, and a found this company's site. It explains anything about insurance. Starting with, Insurance Quoting Service.
I begin to know that because there are so many different types of insurance policies to select from.
So, I will want to find the company that will offer me the
most coverage at the best price for me and my family situation, including my financial situation. :)

The next issue is, how to lower your insurance premiums. This site even explain to me that although insurance is a necessity for me, but it doesn't mean that i have to pay high insurance premiums.

Because i am a smoker, my insurance premium rate is rather high. I'm wondering why. I find the right answer in Insurance Quotes for Smokers part.

hmmmmm.... i'm thinking about quit smoking. :) can I ? :)

Wednesday, December 12, 2007

Tax Definition

What is tax? We can find it's definition in several links below :

wikipedia.org
A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (for example, secessionist movements or revolutionary movements). Taxes could also be imposed by a subnational entity. Taxes consist of direct tax or indirect tax, and may be paid in money or as unpaid labour. A tax may be defined as a "pecuniary burden laid upon individuals or property to support the government […] a payment exacted by legislative authority."[1] A tax "is not a voluntary payment or donation, but an enforced contribution, exacted pursuant to legislative authority" and is "any contribution imposed by government […] whether under the name of toll, tribute, tallage, gabel, impost, duty, custom, excise, subsidy, aid, supply, or other name."
investorwords.com
A fee charged ("levied") by a government on a product, income, or activity. If tax is levied directly on personal or corporate income, then it is a direct tax. If tax is levied on the price of a good or service, then it is called an indirect tax. The purpose of taxation is to finance government expenditure. One of the most important uses of taxes is to finance public goods and services, such as street lighting and street cleaning. Since public goods and services do not allow a non-payer to be excluded, or allow exclusion by a consumer, there cannot be a market in the good or service, and so they need to be provided by the government or a quasi-government agency, which tend to finance themselves largely through taxes.
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