News andUpdates
News and Updates
February 5, 2020
New Insurance Regulations on Foreign Ownership and Compliance Director Requirement
There are 2 (two) regulations issued concerning insurance business sector–which are: Government Regulation Number 3 of 2020 (“GR 3/2020”) to amend the previously issued Government Regulation Number…
February 5, 2020
OJK Launched New Regulation on the Implementation of Anti-Fraud Strategy for Commercial Banks
The Indonesian Financial Services Authority (“OJK”) issued OJK Regulation No. 39/POJK.03/2019 of 2019 on the Implementation of Anti-Fraud Strategies for Commercial Banks that comes into effect on…
January 24, 2020
Indonesian Constitutional Court Reviewed Fiduciary Security Law
On January 6, 2020, the Indonesian Constitutional Court (Mahkamah Konstitusi) rendered its decision number 18/PUU-XVII/2019 (“Decision No. 18/2019”) in relation to the judicial review of Article 15…
January 22, 2020
Government Introduces Regulatory Framework on Rooftop Solar Panel for Captive Use
On November 16, 2018, the Minister of Energy and Mineral Resources of the Republic of Indonesia (the “MEMR”) enacted MEMR Regulation No. 49 of 2018 on the Utilization of Rooftop Solar Power…
January 22, 2020
Acceleration of Electric Vehicle Industry in Indonesia (Updated)
On August 12, 2019, the Government of Indonesia enacted Presidential Regulation No. 55 of 2019 dated August 12, 2019 on the Acceleration of Battery Electric Vehicle Program for Road Transportation…
January 13, 2020
Regulations on FX from Export and Import Activities Renewed
Foreign exchange (“FX”) is one source of funding that is relatively stable and sustainable. It supports the stability of Indonesian lawful currency, Rupiah, which is imperative for national economic…
January 6, 2020
Minister of State-Owned Enterprises Prohibits Souvenir Gifting
The Minister of State-Owned Enterprises (the “Minister”) issued Minister Letter No. SE-8/MBU/12/2019 dated December 5, 2019 on Prohibition for Gifting of Souvenirs or the Likes (the “Circular…
December 13, 2019
New Tax Incentives Introduced for Investors in Certain Industries and/or Regions
The Government enacted Government Regulation No. 78 of 2019 dated November 13, 2019 on Granting of Income Tax Incentives for Investments in Certain Industries and/or Regions (“GR 78”) which comes…
December 12, 2019
Indonesian Government introduces a More Developed E-Commerce Regulation
The Indonesian Government has responded to the rapid growth of E-commerce sector in Indonesia by issuing an implementing regulation on E-Commerce business as mandated under Article 66 of Law No. 7…
December 4, 2019
Improvements of Industrial Business Licensing Processes
The Minister of Industry (the “MOI”) issued MOI Regulation No. 30 of 2019 dated October 18, 2019 on Amendments to Minister of Industry Regulation No. 15 of 2019 on the Issuance of Industrial Business…