Companies, contractors, people, banks, real estate homeowners, governmental our bodies; or any combination thereof may be parties to commercial mediation. Bank Indonesia Regulations on Foreign Exchange Transactions Bank Indonesia lately issued several laws related to international trade transactions by Indonesian banks. These regulations update existing regulations issued by BI with the objective of making a healthy overseas trade market in Indonesia, as is defined on this transient abstract. New Negative Investment List Introduces Changes to Health Investment in Indonesia The Indonesian Government has released the long-awaited New Negative Investment List, issued beneath Presidential Regulation No. 39 of 2014.
New Regulation Allows Appointment of ROEs for Construction Projects The Indonesian authorities lately issued Government Regulation No. 54 of 2016 relating to the Third Amendment to Government Regulation No. 29 of 2000. The newly-issued Third Amendment introduces a provision that permits Regional-Owned Enterprises the same remedy as State-Owned Enterprises. BKPM Supports Indonesian Tax Amnesty Programs by Issuing a Facilitating Regulation On twenty eighth October 2016, the Head of the Capital Investment Coordinating Board issued Regulation No. 8 of 2016 (“Regulation 8”), which immediately went into impact. Regulation 8 was issued to help the tax amnesty programmes initiated by the Indonesian authorities. New Online Registration System Transforms Franchise Application Process The Ministry of Trade (“MOT”) has launched a model new platform for the registration of a variety of licenses including the franchise registration certificate. Development of Oil and Natural Gas in Indonesia Indonesia’s oil and gas sector is ruled by Law No. 22 of 2001 regarding Oil and Gas.
Better Work Haiti: Twenty Second Biannual Compliance Synthesis Report
This new regulation removes the provision which allowed holders of Producer Importer Identification Numbers to import sure industrial/finished items. Regulating E-Commerce for a Digital Future Business actors in Indonesia usually elevate the query whether there are any Indonesian legal restrictions on digitalising their businesses by way of web sites or cellular applications. There is not any particular Government of Indonesia legislation or regulation that offers with e-commerce actions in any depth or detail. Indonesia’s worldwide funding policy has been in the spotlight because the Government of Indonesia conveyed in 2014 its intention to terminate all of its existing bilateral funding treaties. Indonesia Introduces New Solar Power Regime In 2013, the Indonesian government first launched a solar power regulatory regime which required the federal government to publish solar energy quota allocations for varied elements of Indonesia.
New Indonesian Manpower Regulation Changes Rules for Foreign Workers The Indonesian Ministry of Manpower has issued MOM Regulation Number 10 of 2018 on Procedures for the Utilization of Foreign Workers. PLN re-opens Prequalification Process for Indonesian Renewable Projects Indonesia’s State-owned power utility, PT PLN has invited renewable builders to submit purposes to be included on the List of renewable initiatives. Sign up for the GBG Indonesia Quarterly Business Intelligence Report for the latest news in your sector. Book an appointment with us, or search the listing to find the right lawyer for you immediately through the app.
Higher Work Haiti: 17th Biannual Compliance Synthesis Report
Among the main adjustments from earlier rules is a rise in maximum overseas ownership ranges in several key industries, including the well being sector. Discrimination Law and Equality in Indonesia Indonesia does not have an overarching anti-discrimination law; somewhat, a patchwork of legal guidelines and sector-specific laws prohibit discrimination and encourage equality. Given the context of Indonesia’s gains in its equality rankings, this update provides an outline of the related laws.
- New Body Set Up to Resolve Disputes in Indonesia’s Construction Sector The Indonesian Centre for Arbitration and Alternative Dispute Resolution for Construction in late 2015 held its first seminar to announce its existence as a dispute resolution physique within the field of building in Indonesia.
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- Mandatory Use of Rupiah in Indonesia Indonesia’s central bank, Bank Indonesia, lately issued BI Regulation No. 17/3/PBI/2015 relating to the Mandatory Use of the Rupiah throughout the Republic of Indonesia, which restricts the usage of international currency in domestic transactions carried out inside Indonesian territory.
- PLN re-opens Prequalification Process for Indonesian Renewable Projects Indonesia’s State-owned power utility, PT PLN has invited renewable developers to submit applications to be included on the List of renewable initiatives.
- Guide to Benefits in Indonesia In 2011, the Indonesian government reformed its National Social Security System and handed Law No. 24 on the Social Security Organising Body to assist meet the fundamental wants of the country’s inhabitants.
Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19 The COVID-19 world pandemic has taken a toll on the Indonesian economy, underlining the necessity for monetary establishments to have enough liquidity within the face of uncertain occasions. New Developments in Indonesian Immigration Policy On September eleven, 2020, the Indonesian Government enacted a new regulation that introduces several changes to the immigration regime that have an result on foreigners, Indonesians and the procurement of journey documents. SHRM’s weekly Workplace Compliance e-newsletter offers summaries of legal decisions, legislative news and regulatory information, in addition to analysis of what they imply for your organization. Sign-up to follow subjects, sectors, individuals and also have the option to receive a weekly update of lastest information across your areas of curiosity. Global legal enterprise DWF has reported a seven per cent improve in gross profits to reach £89 million within the six months ending 31 October 2021.
Foreign Employees and Termination Benefits in Indonesia Supreme Court Circular Letter No. 1 of 2017 provides legal certainty that foreigners can solely be employed in Indonesia under a fixed-term employment settlement for the period of their work permit. SEMA No. 1 eliminates any possible future claims that international workers are permanent workers and thus enjoy statutory termination advantages underneath the Manpower Law. Coal Prices for Domestic Power Producers in Indonesia With worldwide coal costs rising, the federal government has by enacted MEMR Decree No. 1395 K/30/MEM/2018 to control the supply of coal for home power producers. The New Tax Holiday Regulation of Indonesia New Minister of Finance regulation offers extra engaging corporate income tax reduction facilities for traders.
What You Need to Know about Indonesia’s New Tax Amnesty Law The Indonesian Government recently issued the long-awaited and anticipated Tax Amnesty Law (Law No. 11 of 2016). The Tax Amnesty Law eliminates the principal tax debt and administrative sanctions in addition to providing no-examination of tax crimes. New Regulation on Purchase of Electric Power from Biomass and Biogas Power Plants On 4th August 2016, Ministry of Energy and Mineral Resources Regulation No. 21 of 2016 on the Purchase of Electric Power from Biomass and Biogas Power Plants was enacted. Business entities aspiring to develop and operate biomass and biogas power vegetation must first safe a stipulation as the developer of a biomass and biogas power plant. A Look at New Requirements for Pharmaceutical/Healthcare Companies on Sponsorship On eighth November 2016, the Minister of Health issued Regulation No. 58 of 2016 on Sponsorship for Healthcare Professionals (“Regulation 58”), which took impact on twenty ninth November 2016.