Friday, September 23, 2016
Indonesia can boast some of the most extensive and biologically diverse areas of tropical forest in the world. Moreover, the country’s forests have amazing potential for development and utilization, and many individuals and businesses are attempting to utilize and even exploit the entirety of the natural resources contained therein to the very limits of their abilities. However, limits have indeed been set on the utilization of the country’s forests in order to ensure balance and the overall protection of the environment. Indonesia’s forests are controlled under several laws and regulations, including Law No. 41 of 1999 on Forestry, Law No. 5 of 1990 on the Conservation of Living Natural Resources and Ecosystems and Law No. 32 of 2009 on the Protection and Management of the Environment. This week’s ILD offers a general outline of Indonesia’s forests and their various classifications, as well as the procedures which have to be followed in order to secure permits for the utilization of timber and/or non-timber forestry products in areas of production forest.
Friday, September 16, 2016
As one of the most populous nations in the world, not to mention one of Asia's most vibrant marketplaces, Indonesia offers numerous opportunities for the development of profitable startup companies. And indeed, many young entrepreneurs are currently attempting to establish startups across Indonesia. However, in doing so, there are a number of important areas that have to be considered, such as the formulation of a suitable business model and the securing of the necessary licenses. This week’s ILD offers a general outline of a number of different business models which are suitable for startups, as well as a rundown of the various licenses that should be secured by entrepreneurs prior to the rendering of any services to the general public.
Friday, September 09, 2016
Since the official implementation of the Tax-Amnesty program last July, which mandates that certain assets should be repatriated to Indonesia, the government is pushing forward with a number of initiatives relating to the channeling of future investments. One alternative open to any new investors is the option to establish businesses in special economic zones (Kawasan Ekonomi Khusus – “KEK”). In order to accommodate this initiative, the Minister of Finance has issued Regulation No. 104/PMK.010/2016 on Tax, Customs and Excise Treatments in Special Economic Zones (“2016 Regulation”). In essence, this regulation set out further details relating to the various tax, custom and excise facilities, as well as various breaks which can be enjoyed by any companies or businesses which are engaging in commercial activities within KEKs.
Thursday, September 29, 2016
In order to realize market discipline in accordance with recent developments in international standards, the OJK has issued Regulation No. 32 /POJK.03/2016, which amends OJK Regulation No. 6/POJK.03/2015 on Transparency and the Publication of Bank Reports. This Amendment mainly focuses on revising provisions which relate to contents, publishing mechanisms and submission for Banks’ monthly, quarterly, annual and miscellaneous reports, as well as setting out additional sanctions for non-compliance.
Wednesday, September 28, 2016
In order to einsure a good decent accessibility for public in terms of to financial services for the general public, the Presidential Regulation on the National Strategy for Financial InclusivityInclusion has just been issued by the government has issued a the Presidential Regulation on the National Strategy of for Financial InclusiveInclusivity. This regulation aims is aimed to at realizinge the government’s target to achieve of ensuring that at least 75% of the country’s total adult citizens population has in having access on to financial services by 2019. HopefullyThe hope is that , the ministries, government institutions and , as well as regional governments will have the all abide by the same standards to when seeking to improve financial-service enhance accessibility of financial service whenever undertake public servicefor the general public, based on their respective each authorityauthorities. This regulation also mandates to establish for the establishment of a National Board of Financial Inclusive inclusivityInclusion, which will be in charge on of implementing implementation of this regulation.
Tuesday, September 27, 2016
In order to expedite the construction of badly needed infrastructure through public-private partnership (“PPP”) schemes, the Ministry of Finance has issued Regulation No. 129/PMK.08/2016 (“Amendment”), which amends Regulation No. 265/PMK.08/2015 on Facilities for the Preparation and Implementation of Public-Private Partnership Transactions for the Construction of Infrastructure. The Amendment set outs new provisions which cover fiscal facilities made available by the Ministry for PPP projects, as well as cooperation with foreign parties relating to the construction of any such facilities.
Wednesday, August 31, 2016
As part of our ongoing commitment to keep our subscribers updated as regards the most recent legal developments within Indonesia, this edition of Monthly Law Review covers a total of 62 laws and regulations, which we have classified into Energy and Natural Resources, Trade, Taxation, Financial Services, Manufacturing and Industry, Consumer Goods, Telecommunications and Media, General Corporate, and a number of other sectors which we have grouped under the Miscellaneous banner.
Friday, July 29, 2016
Surprising news emerged from the Presidential Palace just before the end of July 2016 in the form of President Joko Widodo announcing his second cabinet reshuffle. Introducing his new cabinet, the President contended that he was aiming to inject some fresh energy into the government, as well as accelerate economic growth through a new influx of investment into the country.
Thursday, June 30, 2016
Earlier this month the government took the big step of officially revoking over 3,000 regional regulations which were considered to be inefficient and hampering investment. Most of the regulations revoked related to provisions on regional taxes and levies, mining, nuisance permits, irrigation, the management of regionally owned assets, etc.