News andUpdates
News and Updates
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…
April 6, 2020
Data Protection and Privacy: How a Company Should Handle its Employees’ Personal Data during COVID-19 Outbreak
Many organizations in Indonesia are quickly initiating a number of initiatives to anticipate and minimize the growth of COVID-19 outbreak as well as to ensure the health and safety of their…
April 2, 2020
COVID-19: OJK Relaxes Requirements for Bank’s Asset Quality Assessment
Amid the Coronavirus Disease 2019 (“COVID-19”) outbreak in Indonesia, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan - “OJK”) issued The OJK Regulation No. 11/POJK.03/2020 of…
April 2, 2020
Temporary Entry Restriction to Foreigners Due to Covid-19 Outbreak
On March 2, 2020, the Indonesian Government announced the first confirmed cases of coronavirus disease (officially named Covid-19) in Indonesia. Since then, hundreds of patients have been observed…
April 1, 2020
Employee Protection and Business Sustainability on the Prevention of Covid-19
On March 17, 2020, the Minister of Manpower (the “MOM”) issued her Circular Letter No. M/3/HK.04/III/2020 on the Employee Protection and Business Sustainability on the Prevention of COVID-19 (the…
March 26, 2020
OJK Eases Up on Annual Report Obligation and General Meeting of Shareholders
As the Coronavirus Disease (“COVID-19”) represents an unprecedented challenge to business operations and compliance requirements, and to minimize the spread requires limitation to public meetings…
March 24, 2020
Does Covid-19 Outbreak Excuse Performance of Obligations?
General With the outbreak of the novel corona virus disease (now known as the “Covid-19”) and the restrictions or limitations imposed by Governments in various countries, it is imperative for…
March 19, 2020
OJK Takes Action to Stimulate Uncertain Market Conditions
The Indonesian Financial Services Authority (“OJK”) recently issued two letters, namely: OJK Circular Letter No. 3/SEOJK.04/2020 dated March 9, 2020 on Additional Conditions Constituting…
March 16, 2020
Information from AKSET
Dear All AKSET Clients and Friends, We trust this finds you well. As you may know, the COVID-19 reached Indonesia a few days ago. Since then, the number of infected persons has exceeded 110. In…