What You Need to Know about Indonesia’s New Tax Amnesty Law The Indonesian Government lately 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 as well as 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 function biomass and biogas energy crops should first secure a stipulation because 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 fifty eight”), which took effect on 29th November 2016.
- Discrimination Law and Equality in Indonesia Indonesia does not have an overarching anti-discrimination law; rather, a patchwork of legal guidelines and sector-specific regulations prohibit discrimination and encourage equality.
- Indonesia Omnibus Law and the Impact on Tax Laws The Indonesian Government recently passed Law No. 11 of 2020 relating to Job Creation (the “Omnibus Law”).
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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 economic system, underlining the necessity for monetary institutions to have adequate liquidity within the face of uncertain instances. New Developments in Indonesian Immigration Policy On September 11, 2020, the Indonesian Government enacted a new regulation that introduces several adjustments to the immigration regime that affect foreigners, Indonesians and the procurement of travel documents. SHRM’s weekly Workplace Compliance e-newsletter presents summaries of legal selections, legislative news and regulatory news, in addition to evaluation of what they mean on your group. Sign-up to observe subjects, sectors, folks and also have the option to obtain a weekly update of lastest information throughout your areas of curiosity. Global legal business DWF has reported a seven per cent increase in gross profits to achieve £89 million within the six months ending 31 October 2021.
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New Regulation Allows Appointment of ROEs for Construction Projects The Indonesian authorities lately 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 enables Regional-Owned Enterprises the identical therapy as State-Owned Enterprises. BKPM Supports Indonesian Tax Amnesty Programs by Issuing a Facilitating Regulation On 28th October 2016, the Head of the Capital Investment Coordinating Board issued Regulation No. 8 of 2016 (“Regulation 8”), which immediately went into effect. Regulation 8 was issued to assist the tax amnesty programmes initiated by the Indonesian authorities. New Online Registration System Transforms Franchise Application Process The Ministry of Trade (“MOT”) has introduced a brand new platform for the registration of a variety of licenses including the franchise registration certificates. Development of Oil and Natural Gas in Indonesia Indonesia’s oil and fuel sector is ruled by Law No. 22 of 2001 regarding Oil and Gas.
Companies, contractors, people, banks, real estate house owners, governmental our bodies; or any combination thereof may be events to commercial mediation. Bank Indonesia Regulations on Foreign Exchange Transactions Bank Indonesia lately issued several rules related to overseas trade transactions by Indonesian banks. These regulations update current laws issued by BI with the aim of creating a healthy foreign exchange market in Indonesia, as is explained 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.
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Among the main modifications from previous regulations is a rise in most foreign ownership levels in several key industries, together with the health sector. Discrimination Law and Equality in Indonesia Indonesia doesn’t have an overarching anti-discrimination regulation; quite, a patchwork of legal guidelines and sector-specific rules prohibit discrimination and encourage equality. Given the context of Indonesia’s gains in its equality rankings, this update provides an outline of the related legal guidelines.
Foreign Employees and Termination Benefits in Indonesia Supreme Court Circular Letter No. 1 of 2017 supplies legal certainty that foreigners can only be employed in Indonesia underneath a fixed-term employment settlement for the interval of their work permit. SEMA No. 1 eliminates any attainable future claims that foreign employees are everlasting employees and thus take pleasure in statutory termination advantages underneath the Manpower Law. Coal Prices for Domestic Power Producers in Indonesia With worldwide coal costs rising, the government has by enacted MEMR Decree No. 1395 K/30/MEM/2018 to control the provision of coal for home power producers. The New Tax Holiday Regulation of Indonesia New Minister of Finance regulation presents more attractive corporate earnings tax reduction facilities for buyers.
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This new regulation removes the availability which allowed holders of Producer Importer Identification Numbers to import certain industrial/finished goods. 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 via websites or cellular functions. There is not any specific Government of Indonesia legislation or regulation that offers with e-commerce activities in any depth or detail. Indonesia’s international investment coverage has been within the highlight for the explanation that 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 authorities first introduced a solar energy regulatory regime which required the government to publish solar power quota allocations for numerous elements of Indonesia.