New Procedures and Pricing Guidelines for the Utilization of Coal for Power Plants and for the Purchase of Excess Power
The government’s efforts to optimize Indonesia's electrification ratio continues. This time through the issuance of Ministry of Energy and Mineral Resources Regulation No. 19 of 2017 on the Utilization of Coal for Power Plants and the Purchase of Excess Power. The regulation sets out a more efficient procedure and pricing mechanism for PT PLN and operators of mine-mouth and non-mine-mouth power plants. The regulation also redefines basic provisions on the procedure for the purchase of excess power from holders of operational licenses who generate power for their own use
Prosedur dan Pedoman Penetapan Harga Baru untuk Pemanfaatan Batubara untuk Pembangkit Listrik dan Pembelian Kelebihan Tenaga Listrik
New Procedure for the Registration of Trademarks
Following the newly enacted Law No. 20 of 2016 on Trademarks and Geographical Indications, the Ministry of Law and Human Rights has expeditiously issued Regulation No. 67 of 2016 on Trademark Registrations in order to create greater certainty regarding the various requirements and procedures involved in the registration of trademarks and collective trademarks, the extension of their protection periods, the amendment to holders’ names and addresses, their transfer, as well as other relevant aspects, including the classification of goods and/or services, the basis for rejection, and official quotations for trademark certificates.
Prosedur Baru untuk Mendaftarkan Merek
Diverted Profit Tax Schemes: Corporate Conscience and Reluctant Revenues
The taxing of multinational corporations is no easy task in this era of globalized capital, especially when national governments have to deal with corporate behemoths such as Google. However, as complicated as this issue can seem at first glance, the collection of such taxes is by no means an impossible task for Indonesia’s tax authorities. Taking its cue from the United Kingdom’s newly enacted diverted-profits tax scheme, the Indonesian government is optimistic that it can find a new solution to the thorny question of collecting taxes from corporations such as Google in ways that don't involve forcing them to register as permanent establishments within Indonesia. Can such schemes ultimately prove effective however? This edition of ILD will address this tangled question, as Indonesia considers incorporating its own diverted-profits tax scheme into its current tax regime.
New Provisions on Financial Soundness for Conventional Insurance and Reinsurance Companies
Recognizing the importance of enhancing the financial-soundness of conventional insurance and reinsurance companies in order that they be able to provide adequate protection to their customers, the Financial Services Authority has issued Regulation No. 71/POJK.05/2016 on Financial Soundness for Insurance and Reinsurance Companies. In an attempt to realize this objective, the new regulation outlines a number of financial soundness parameters which should be satisfied by both insurance and reinsurance companies, along with provisions relating to the allocation of guarantee funds, the separation of assets and liabilities of said companies, and the obligation to submit various financial statements to the OJK for compliance-monitoring purposes.
Ketentuan Baru Mengenai Kesehatan Keuangan Perusahaan Asuransi dan Perusahaan Reasuransi Umum
Upah Minimum Sektoral Jakarta Tahun 2017
2017 Minimum Wage for the Industrial Sector in Jakarta
Through the issuance of Regulation No. 20 of 2017, the Governor of the Jakarta Special Capital City Region has determined the 2017 minimum wages for certain industrial sectors in Jakarta, specifically: (1) Chemicals, energy, and mining; (2) Metal work, electronics and machinery; (3) Pharmaceuticals and health services. In spite of the higher statutory minimum wages set under the new regulation, fewer industrial sectors (from a previous total of 11 down to only three sectors) and subsectors are covered in comparison with the 2016 minimum-wage framework.
New Regulation on Ultra-Micro Financing
In a bid to boost the number and economic ability of entrepreneurs across Indonesia, the government has established the ultra-micro financing program, which is specifically targeted at productive businesses owned by individuals and/or micro-scale enterprises. In order to provide guidelines for the implementation of such financing, the Ministry of Finance has finally issued Regulation No. 22/PMK.05/2017, which covers various aspects relating to ultra-micro financing, including: (1) Financing targets, coordinators and distributors; (2) Sources of funding; (3) Distribution of financing funds; (4) Reporting obligations; and (5) Sanctions for non-compliance.