Legal And Tax Updates
The oil and gas sector contains of upstream and downstream activities, that are separately regulated and organised. The OJK Issues New Circular Letter on Micro-insurance Products Circular Letter 9, while not within the form of an OJK regulation, now prescribes a detailed method and strategy to the distribution and sale of micro-insurance products. Anti-Corruption Developments in Indonesia Indonesia has seen a rise within the number of cases processed by the KPK and have had three new anti-corruption laws enacted since 2016. The Indonesian Government Resumes Discussions on Over-The-Top Regulation The 2017 Draft OTT Regulation intends to drive Over The Top application and content material service providers to ascertain presence in Indonesia, to protect public interest and ensure certainty of consumer safety.
This is an open access journal which implies that all content material is freely out there without charge to the user or his/her institution. Users are allowed to read, obtain, copy, distribute, print, search, or hyperlink to the complete texts of the articles, or use them for some other lawful function, with out asking prior permission from the writer or the creator. Government Changes Divestment Requirements for Mining Companies in Indonesia Indonesia’s mining business remains in flux. On 14th October 2014, the Indonesian Government issued the third amendment to Government Regulation No. 23 of 2010 concerning the Implementation of Mineral and Coal Mining Business Activities and in doing so launched revised divestment requirements. Mandatory Use of Rupiah in Indonesia Indonesia’s central bank, Bank Indonesia, recently issued BI Regulation No. 17/3/PBI/2015 relating to the Mandatory Use of the Rupiah inside the Republic of Indonesia, which restricts using international forex in domestic transactions carried out within Indonesian territory. New Regulation Prohibits Manufacturers from Importing Industrial/Finished Goods As part of the government’s financial deregulation package deal issued on ninth September 2015, the Ministry of Trade has issued another new regulation on imports.
Covid And Barder Occasions
The OJK must approve or reject the license software no later than 30 days after the whole software is received. Taking the Temperature of Indonesia’s Geothermal Regulatory Climate Indonesia’s geothermal resources are among the many largest on the earth, with round forty p.c of the worldwide geothermal resources, and the government has intensified its efforts to encourage geothermal power development. In Indonesia, New Licensing Rules for Imports and Exports The Government of Indonesia has recently issued a bundle of financial policies designed to take away irrelevant necessities and to decontrol and spur the growth of the Indonesian economy.
The important requirement is that there must be two or more creditors and a minimal of one mature however unpaid debt for a chapter motion to be initiated in opposition to a debtor. BPOM Simplifies Drug Registration Process On 4th August 2016, the Food and Drug Supervisory Agency enacted a brand new regulation which modifications the registration course of of medication. The changes are reflected in Head of BPOM Regulation No. 17 of 2016 on the Second Amendment of Head of BPOM Regulation No. three of 2011. The Halal Product Assurance Law needs around 20 implementing regulations which should be issued inside two years after seventeenth October 2014. The Halal certification obligation underneath the Halal Product Assurance Law will turn into obligatory 5 years after 17th October 2014.
Higher Work Haiti: 4th Biannual Compliance Synthesis Report
Not every article in a journal is taken into account main research and due to this fact “citable”, this chart reveals the ratio of a journal’s articles together with substantial analysis in three year windows vs. these documents other than research articles, evaluations and conference papers. The Ministry of Interior issued a model new Prakas No. 2644 PK dated 19 October 2021 on the Establishment and Management of Mandatory and Voluntary Taskforces for Fire Prevention and Firefighting (“Prakas 2644”). The function of this Prakas is to set the rules regarding the establishment and management of those two groups (the necessary and… Defamation beneath Indonesian Law Defamation underneath Indonesian legislation entails the issuance of a defamatory assertion that causes an individual to endure hurt. Chapter XVI of the Indonesian Criminal Code governs each slander and libel in offering details on six various varieties of defamation, as is defined in this legal update. Registration of Vessels in Indonesia Any vessel of at least 7 gross tonnes can be registered under the Indonesian flag together with offshore drilling rigs and cellular offshore drilling items.
- Regulatory Developments within the Indonesian Banking Industry The Financial Services Authority has had regulatory authority over Indonesian banks, except Bank Indonesia (“BI”), since thirty first December 2013, as stipulated underneath Law No. 21 of 2011 concerning the Financial Services Authority.
- Regulation Curbs Power of Local Authorities in Indonesian Mining Sector The Indonesian authorities appears to be getting serious about stripping regents of the authority to problem mining licenses.
- “NO&T Thailand Legal Update” is written by Asian Thai qualified attorneys to provide updates on legal guidelines and legal practices focusing on Thailand, primarily for corporations doing business or making funding in Thailand.
New Regulation Allows Appointment of ROEs for Construction Projects The Indonesian government recently issued Government Regulation No. fifty four of 2016 relating to the Third Amendment to Government Regulation No. 29 of 2000. The newly-issued Third Amendment introduces a provision that allows Regional-Owned Enterprises the same treatment 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. eight of 2016 (“Regulation eight”), which instantly went into impact. Regulation 8 was issued to support 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 number of licenses including the franchise registration certificate. Development of Oil and Natural Gas in Indonesia Indonesia’s oil and fuel sector is governed by Law No. 22 of 2001 concerning Oil and Gas.