News andUpdates
News and Updates
April 24, 2020
Precautionary Steps Taken to Maintain the Stability of Indonesian Financial Systems During COVID-19
The Novel Coronavirus Disease (“COVID-19”) pandemic has caused the country’s economic growth to slow down and the financial system to worsen. As an effort to maintain stability of the financial…
April 24, 2020
Minister of Finance Further Regulates Approvals for Tax Allowances
On February 11, 2020, the Minister of Finance (the “Minister”) enacted Minister Regulation No. 11/PMK.010/2020 of 2020 dated February 11, 2020 on the Implementation of Government Regulation No. 78 of…
April 23, 2020
Recent Land Related Services due to the COVID-19 Outbreak
To implement series of instructions issued by the Government of the Republic of Indonesia as well as to prevent the spread of the Covid-19 in Indonesia, Minister of Agrarian Affairs and Spatial…
April 23, 2020
Handling COVID-19 Outbreak in Construction Services Sector
On March 27, 2020, the Minister of Public Works and Housing (“MOPWH”) issued the MOPWH Instruction No. 02/IN/M/2020 on Protocol of Prevention of the Corona Virus Disease 2019 (COVID-19) Outbreak in…
April 15, 2020
KPPU: Law Enforcement Through Electronic Means
On April 6, 2020, the Indonesia Business Competition Supervisory Commission (Komisi Pengawasan Persaingan Usaha or “KPPU”) issued the (i) KPPU Regulation No. 1 of 2020 dated April 6, 2020 on Case…
April 14, 2020
Bank Indonesia Provides an Incentive for Banks During COVID-19 Outbreak
In order to mitigate the uncertain economic situation due to the COVID-19 outbreak in Indonesia, Bank Indonesia (“BI”) issued a new Regulation No. 22/4/PBI/2020 dated March 26, 2020 on the Incentives…
April 13, 2020
DKI Jakarta Implements PSBB Measures to Minimize Further Spread of COVID-19 Outbreak
On April 9, 2020, the Governor of DKI Jakarta issued Regulation No. 33 of 2020 (the “Regulation”) and Decree No. 380 of 2020 (the “Decree”), both regarding the Implementation of Large-Scale Social…
April 13, 2020
KSEI Introduces the Requirements and Mechanism of E-Proxy for E-GMS
On March 26, 2020, the Indonesian Financial Service Authority (“OJK”) has issued Circular Letter No. S-92/D.04/2020 dated March 18, 2020 on the Relaxation on the Report Obligation and the…
April 8, 2020
Tax Policies to Brace the Impact of COVID-19
Due to the COVID-19 pandemic, the Government of Indonesia predicts the Indonesian economic growth to only reach 4% or lower, subject to the period and severity of the pandemic in affecting or even…
April 8, 2020
Temporary Tax Incentives for Businesses Affected by COVID-19
In anticipation of the impact of the COVID-19 outbreak on the economic stability, productivity, and purchasing power, the Minister of Finance (the “MOF”) issued the MOF Regulation No. 23/PMK.03/2020…