Thursday, June 22, 2017
The Islamic holiday of Eid al-Fitr is just around the corner and this occasion is often used by many as an opportunity to travel abroad, either for holiday purposes or to visit family. This edition of ILD aims to offer a little insight into various areas which must be taken into account before flying overseas. Our discussion will be structured around a theoretical flight timeline, specifically pre-departure, in flight and returning to Indonesian territory. And finally, may we take this opportunity to wish you a wonderful holiday!
Friday, June 16, 2017
Realizing that there’s a possibility of large amounts of revenue being generated, the government has been continuously striving to improve and modernize the country’s tax sector. After winding up the tax-amnesty program, the government has now comes up with various strategies designed to ensure better compliance in this sector. One of these strategies involves providing better access to tax data and information which relates to both individuals and corporations. This can be achieved through the implementation of both domestic and international approaches. This edition of Indonesian Law Digest will focus its discussion upon the collection of tax-related information through an international approach based on various international treaties which address the exchange of information.
Friday, June 09, 2017
In May 2017, the Ministry of Energy and Mineral Resources created a milestone within the minerals and coal sector by issuing Regulation No. 34 of 2017 on the Licensing of Minerals and Coal. In essence, this regulation simplifies a number of provisions which deal with licensing within the minerals and coal sector and which were formerly addressed under several different regulations. By issuing this regulation, the government is hoping that the investment climate within the sector will immediately show marked signs of improvement.
Thursday, June 22, 2017
In order to clarify the role of independent verifiers regarding the process of verifying construction plans, as well as the physical progress of the construction of domestic refining facilities, the Ministry of Energy and Mineral Resource has issued Regulation No. 35 of 2017, which amends Ministry Regulation No. 6 of 2017 on Procedures and Requirements for the Granting of Recommendations for the Sale of Processed and Purified Minerals Overseas. In essence, the newly issued regulation redefines provisions pertaining to the export of washed bauxite, establishes a verification process to be implemented by independent verifiers, and also outlines the mandatory appointment of independent verifiers.
Wednesday, June 21, 2017
In order to ease public anxiety and distrust, the Ministry of Finance has hastily issued Regulation No. 73/PMK.03/2017 as an amendment to the recently issued Ministry Regulation No. 70/PMK.03/2017 on Technical Guidelines for Access to Financial Information for Taxation Purposes. The amendment covers three new provisions, including increasing the minimum thresholds for reported financial accounts, a new electronic mechanism for the requesting of data and the delegation of technical regulations.
Tuesday, June 20, 2017
With the aim of improving investment within the shipping sector, the Ministry of Transportation has issued Regulation No. PM 39 of 2017 on Ship Registration and Nationality. In essence, this new regulation redefines a number of provisions which were originally regulated under the now obsolete Regulation No. PM 13 of 2012, so as to accelerate the processing of ship registrations as well as the acquisition of ship nationality documents.
Wednesday, May 31, 2017
This month, public attention has also been focused upon the enactment of Government Regulation in Lieu of Law No. 1 of 2017 on Access to Financial Information for Tax Purposes. This regulation has been issued in order to accommodate the international taxation disclosure practice known as the Automatic Exchange of Financial Account Information (AEOI). Under the regulation, financial-service institutions are required to submit reports on certain types of customers or accounts to the Directorate General of Tax. Through such a reporting regime, the hope is that tax-compliance levels can be improved, while tax avoidance and evasion are ultimately reduced. The Minister of Finance is expected to issue several implementing regulations for this main regulation.
Friday, April 28, 2017
Finally, after a long and exhausting election season, the people have made their decision. Jakartans will have a new governor after challengers Anies Baswedan and Sandiaga Uno defeated the incumbent Basuki Tjahaja Purnama and his running mate Djarot Saiful Hidayat in the recent Jakarta gubernatorial election. The winning couple has revealed details of their future plans for the capital city, following their inauguration which will take place in October, including the eagerly anticipated zero down-payment housing program, as well as an entrepreneurship mentoring program for micro-, small- and medium-scale enterprises (UMKM) which goes by the catchy name of OK-OCE. It is hoped that the new governor will be able to bring a breath of fresh air to the Indonesian capital’s business sector.
Friday, March 31, 2017
Moving on, as the end of this month rolls around, we are also focusing upon several noteworthy business-sector regulations which have been issued over the course of the last four weeks. To begin with, within the energy sector, a new regulation on geothermal industry has finally been issued, specifically Government Regulation No. 7 of 2017 on the Indirect Utilization of Geothermal Industry.