Individual Income Tax: The New Backbone of Indonesia’s Revenue Sources
As we reached the end of 2015, the House of Representatives passed a new budget plan setting out Indonesian revenue and expenditure for 2016. The plan in question was delineated under Law No. 14 of 2015 on the 2016 State Budget (“2016 State Budget Law”). The new state budget is aiming to generate around IDR 1.82 trillion over the course of the year via the three main sources of state income: tax revenues, non-tax revenues and grants.
Revitalizing the Venture-Capital Industry (Part II)
This ILD is a follow up to last week’s ILD publication (No. 440), which discussed the Venture-Capital Industry covering the procedures for establishing venture-capital companies, their form and ownership, their organizational structure, and licensing procedures. Part II of this venture-capital ILD will cover venture-capital business activities and the various monitoring measures that can be undertaken by the OJK.
Revitalizing the Venture-Capital Industry (Part I)
This edition of Indonesian Law Digest (ILD) is the first in a series of ILDs which will discuss the OJK’s new venture-capital regulations. In addition to highlighting the important provisions set out in these new regulations, their differences to the previous regulatory framework, which was based on 18/2012 MoF Regulation, will also be discussed. This is due to the fact that not a single provision under the aforementioned OJK regulations clearly specifies that the 18/2012 MoF Regulation has been repealed.
Water-Resource Utilization: New Name, Same Taste
Government Regulation No. 121 of 2015 introduces the concept of “water utilization” as a basis for the utilization of water resources for commercial purposes, and this concept replaces that of HGUA. Furthermore, Regulation also sets out the relevant licenses to utilize water that apply to businesses working within the water industry, as well as the various limitations that have been placed on the utilization of water.
Draft Bill on the Creative Economy: Certainty or Catastrophe for Indonesian Creativity?
Currently, Commission X at the House of Representatives (House) is striving to incorporate the Draft Bill under the 2016 National Legislation Program. The commission is concerned about the fact that Indonesia should be leading other ASEAN countries as regards its creative-economy sector, due to the incredible potential that exists in this country. However, data reveals that Indonesia is still lagging behind Malaysia, Thailand and Singapore in terms of its exports of creative-economy products. The general perception is thus that there is an urgent need to pass the Draft Bill in order to prevent any negative economic impacts that may arise as a result of the inauguration of the AEC.
In a Nutshell: Listing, Delisting, and Relisting on the Stock Exchange
This week’s Indonesian Law Digest (“ILD”) will analyze and discuss issues relating to company listings, as well as the delisting and relisting processes as they occur within the bounds of the capital market.
Bill on Guarantees: An Effective Strategy?
This week’s Indonesian Law Digest (ILD) will discuss the various provisions set out in the Bill, the content of which remains very similar to when it was still at the Draft Bill stage (as discussed in ILD No. 417 in August of 2015).
Traffic-Law 101 for Motorists
In order to provide a better understanding of a motor-vehicle driver’s obligations, this week’s Indonesian Law Digest (ILD) will discuss the following issues: Basic driving requirements, including a discussion of vehicle types, vehicle examinations and registrations, and driving licenses; and Traffic violations, including a discussion of basic driver obligations, types of traffic violations and official procedures for offenders.
Draft Bill on Trademarks: Because Identity Matters
The current Trademark Law is now nearly two decades old and somewhat behind the times. Due to this fact, the Ministry of Law and Human Rights is working on a new Draft Bill on Trademarks, which aims to create an improved climate for the business world from the point of view of trademarks. This revision is a necessary step, especially in the context of the forthcoming launch of the ASEAN Economic Community, which is pushing for greater market liberalization and integration.
BKPM Sets Out New Investment-Facility Provision
The 16/2015 Regulation is an integral part of the government’s Second Economic Package, which was announced in October. The essential objective of the 16/2015 Regulation is to stimulate and accelerate the flow of investment into Indonesia by simplifying the procedures for applying for Investment Facilities.