News andUpdates
News and Updates
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…
November 28, 2019
KPPU Launches New Regulation on Post-Closing Notifications on Mergers, Consolidations, and Acquisitions (Including Asset Transfers)
Overview On October 2, 2019, the Business Competition Supervisory Commission (Komisi Pengawas Persaingan Usaha or “KPPU”) issued Regulation No. 3 of 2019 on Assessment of Mergers or…
November 20, 2019
Answers to Certain Questions Relating to Language of Agreements
References Law No. 24 of 2009 dated July 9, 2009 on National Flag, Language, and Coat of Arms, and Anthem (“Law 24”); and Presidential Regulation No. 63 of 2019 dated September 30, 2019 on Use…
November 11, 2019
Reporting Requirements for Corporations in the Implementation of Know-Your-Beneficial-Owner Principle
Following the enactment of Presidential Regulation No. 13 of 2018 dated March 5, 2018 on Implementation of Know-Your-Beneficial-Owner Principle by Corporations for the Prevention and Eradication of…
November 11, 2019
Law on Legislative Drafting Amended
On October 2, 2019, Law No. 15 of 2019 (“Law 15”) was issued to amend several provisions of Law No. 12 of 2011 dated August 12, 2011 on Legislative Drafting (“Law 12”). Law 15 addresses several…
November 11, 2019
Amendments to KPK Law Are Now Formally Effective
On September 17, 2019, the House of Representatives along with the Government passed the Corruption Eradication Commission (“KPK”) bill (the “KPK Bill”), which is a second revision to Law No. 30 of…