Bank Indonesia Issues Regulation on Bilyet Giro
Regulation to come into force by 1 April 2017
Revision of Anti-Trust Law: Stakeholders Offer Various Inputs
KADIN: KPPU should avoid punitive approach when carrying out its duties and responsibilities so as to prevent businesses being hurt
Regulation on Network and Frequency Sharing: Government Urged to Resist Being Dictated to by Companies
Revision to regulation should uphold the public interest over that of companies
Indonesian Law Digest
FINTECH: EMBRACING THE FUTURE OF THE FINANCIAL INDUSTRY
Friday, December 02, 2016
Digital innovation within the financial realm is transforming the way that customers and consumers access financial products and services. The fusion between technology and financial services has created a golden opportunity for technologically focused startups and technology companies to enter a financial industry which has traditionally been dominated by regulated financial entities such as banks, insurance companies and the like. This phenomenon is commonly referred to as Fintech and in Indonesia, the relevant authorities, namely BI and the OJK, have now begun to react to this development and are aiming to specifically accommodate the Indonesian Fintech industry under their regulatory umbrellas. This week’s ILD will directly address the Fintech industry from a global perspective and also examine how Indonesia in particular is responding to this rapidly growing phenomenon.
Recently Granted Judicial Reviews of the Employment Law
Friday, November 25, 2016
This edition of ILD, however, will focus upon three decisions which have proved important during the recent development and evolution of the Employment Law.
Bill on the Amendment to the ITE Law: A Lukewarm Attempt at Amelioration
Friday, November 18, 2016
Realizing this persistent lack of legal protection in cyberspace, on 27 October 2016, the House of Representatives offered a response by passing the Bill on the Amendment to the ITE Law. This week’s edition of Indonesian Law Digest (ILD) will analyze the salient features of the Bill.
Indonesian Legal Brief
New Provisions on Regional Tax
Wednesday, December 07, 2016
The government recently issued Government Regulation No. 55 of 2016 on General Provisions and Procedures for the Collection of Regional Taxes in a bid to increase the revenue which is generated through regional taxation. With this end in mind, the new regulation redefines a number of provisions which relate to regional tax, including: (1) Types of regional tax; (2) The registration of tax objects and taxpayers; (3) Tax-periods; and (4) Regional taxes which can be borne by central government.
Third Amendment to Provisions on Construction Services
Tuesday, December 06, 2016
In a bid to expedite the realization of nationally strategic projects, the government has now allowed regional governments to directly appoint Regional-Government Owned Companies (BUMD) in order to undertake the planning, construction and/or supervision of such projects. In order to address this matter, the government has issued Government Regulation No. 54 of 2016 as the third amendment to Government Regulation No. 29 of 2000 on Construction Services. Additionally, this third amendment also revises provisions which relate to the direct appointment of other parties by BUMD for the undertaking of integrated construction work.
Service Tariffs at the Ministry of Law and Human Rights Readjusted
Monday, December 05, 2016
In a bid to optimize state income from the non-tax state revenue sector, while also ensuring a greater ease of doing business for micro-, small- and medium-scale enterprises in Indonesia, the Government has issued Government Regulation No. 45 of 2016 on the Second Amendment to Government Regulation No. 45 of 2014 on Types and Tariffs of Non-Tax State Revenue Applicable at the Ministry of Law and Human Rights. With this goal in mind, the Second Amendment changes a number of tariffs covering services which relate to intellectual property, legal services, asset-bequeathing services and immigration services.
Monthly Law Review
Monthly Law Review November 2016
Wednesday, November 30, 2016
As part of our commitment to providing a comprehensive but easily digestible survey of any recent updates which are made to Indonesia’s overall regulatory framework, this edition of Monthly Law Review highlights the key aspects covered by 60 regulations. For ease of access, we have classified these various regulations into a number of groups, specifically: Trade, Manufacturing and Industry, Energy and Mineral Resources, Financial Services, Taxation, Telecommunications and Media, General Corporate and Miscellaneous.
Monthly Law Review October 2016
Monday, October 31, 2016
The House of Representatives finally passed two significant and important bills governing the business sector just before the end of October, specifically the Bill on the Amendment to Law No. 11 of 2008 on Electronic Information and Transactions, and the Bill on Trademarks and Geographical Indications.
Monthly Law Review September 2016
Friday, September 30, 2016
Several noteworthy regulations were also issued in September. In the consumer-goods sector, the Head of the National Food and Drug Supervisory Agency (BPOM) issued a number of regulations relating to the registration of food and drugs. In the financial sector, Bank Indonesia relaxed the prevailing Loan-to-Value and Finance-to-Value ratios for property and motor-vehicle ownership by the public through the issuance of BI Regulation No.18/16/PBI/2016. Furthermore, BI also has relaxed the various requirements that have to be met by any banks which are looking to involve themselves within the e-money sector, and this strategy will hopefully help the government to achieve its financial inclusivity objectives.
OPINION
@Hukumonline