Category: Newsflash

  • NewsflashJanuary 21, 2016

    Indonesia Boosts Investment Activities Through Special Economic Zones (SEZs)

    To accelerate economic development and job growth, the government enacted Law No. 39 of 2009 on Special Economic Zones (“SEZs”). ♦ INCENTIVES AND FACILITIES SEZs attract investors by offering a number of facilities and incentives, including: Exclusion from restrictions under the Negative Investment List (except for reservations for SMEs and cooperatives) Income tax facilities Land Read more…

  • NewsflashJanuary 20, 2016

    OJK Re-regulates Venture Capital Business

    On December 28, 2015, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) issued new regulations governing venture capital business, which was previously regulated by the Ministry of Finance (“MOF”). The new regulations cover: Arrangement of Venture Capital Company Business (Reg. No. 35/POJK.05/2015) Licensing and Organization of Venture Capital Companies (Reg. No. 34/POJK.05/2015) Good Corporate Read more…

  • NewsflashNovember 9, 2015

    Importer Identification Numbers Reregulated

    As a part of the Economic Policy Packages launched by President Joko Widodo, the Minister of Trade issued the Minister of Trade Regulation No. 70/M-DAG/PER/9/2015 on Importer Identification Numbers (the “New Regulation”) on September 28, 2015. This regulation replaces the previous Minister of Trade Regulation No. 27/M-DAG/PER/5/2012 on Provisions on Importer Identification Numbers as lastly Read more…

  • NewsflashOctober 29, 2015

    Minister of Manpower Regulation No. 16 of 2015 Amended

    On October 23, 2015, the Minister of Manpower issued Regulation No. 35 of 2015 (“Regulation 35”) to amend certain provisions of the Minister of Manpower Regulation No. 16 of 2015 (“Regulation 16”). The amendment is made due to certain concerns raised by stakeholders. The key amendments are as follows. ♦ The 1:10 Ratio The ratio Read more…

  • NewsflashSeptember 25, 2015

    Debt-to-Equity Ratio Determined by Government

    Debt-to-Equity Ratio Determined by Government After more than 30 years, the Minister of Finance finally issued a regulation to determine the debt-to-equity ratio (the “DER”) for certain corporate taxpayers for the purpose of calculating the payable income tax of the corporate taxpayers. Article 18(1) of Law No. 7 of 1983 regarding Income Tax, dated December Read more…

  • NewsflashJuly 14, 2015

    New Procedures on Expatriate Utilization Permits

    Less than 2 years from the previous rules on expatriate utilization (Minister of Manpower and Transmigration Regulation No. 12 of 2013), the Minister of Manpower recently enacted the new procedures of expatriate utilization under Minister of Manpower Regulation No. 16 of 2015 on Expatriate Usage Procedures (the “New Regulation”). We describe certain new requirements in Read more…

  • NewsflashJuly 1, 2015

    Press Release MEMR on Obligation to Use Rupiah

    As mentioned in our recent Newsflash, July 1, 2015, marked the effective date of Bank Indonesia Regulation No. 17/3/PBI/2015 on Mandatory Use of Rupiah within the Territory of the Republic of Indonesia, presenting major implications for a wide range of businesses. To address impacts specific to the mining and energy sector, the Ministry of Energy Read more…

  • NewsflashJune 22, 2015

    Court Nullifies English Language Contract

    On June 20, 2013, the District Court of Jakarta Barat nullified a Loan Agreement executed only in English, concluding that contracts involving Indonesian parties must be written in Bahasa Indonesia, under Decision No. 451/Pdt.G/2012/PNJkt.Bar. The District Court based its decision on Law No. 24 of 2009 on Flag, Language and Coat of Arms and National Read more…

  • NewsflashJune 16, 2015

    BI Sets July 1 Deadline for Mandatory Use of Rupiah for Transactions in Indonesia

    The obligation to use Rupiah in Indonesian transactions has long been established under the Currency Law (Law No. 7 of 2011 on Currency). Recently, however, Bank Indonesia took major steps to accelerate compliance by issuing Regulation No. 17/3/PBI/2015 on Mandatory Use of Rupiah within the Territory of the Republic of Indonesia (“BI Regulation”), which was Read more…

  • NewsflashMay 13, 2015

    Outsourcing Licenses to Be Processed by BKPM; Only Granted for Single Line of Business

    On January 26, 2015, the Minister of Manpower issued Reg. No. 6 of 2015 on Standard Operational Procedure for Outsourcing Business License Issuance through the One-Stop Integrated Services in the Investment Coordinating Board (“MOM Reg. 6/2015”), which delegates to BKPM (the Investment Coordinating Board) the authority to issue outsourcing licenses to PMA (foreign capital investment) Read more…


News & Events Category


©2018 | AKSET. All rights reserved.