Quick ViewThe Circular Letter was issued in order to ensure that provisions issued by Bank Indonesia comply with financial accounting standards in Indonesia. It is a follow-up to Bank Indonesia Regulation (“PBI”) No. 10/4/PBI/2008 on Commercial Bank Monthly Reports, which was most recently amended by PBI No. 12/2/PBI/2010.
Quick ViewMinister of Industry Regulation No. 14/M-IND/PER/2/2012 on Recommendations for Used Capital Goods Imports (Regulation) was issued in order to improve domestic industry by supporting the importation of used capital goods.
Quick ViewThe government has issued Government Regulation No. 14 of 2012 on Electric Power Supply Business Activities (“Regulation”). The Regulation is aimed at implementing Law No. 30 of 2009 on Electricity ("Electricity Law"), which requires the government to regulate electric power supply businesses; electric power supply business licenses and operation licenses; compensation for land use; electric power sales prices, network leases, and tariffs; electricity safety, operational feasibility certificates, Indonesian national standards, competency certificates; electric power network use; development and supervision of electric power supply businesses; and administrative sanctions.
Quick ViewPresident Regulation No. 15 of 2012 on Retail Prices and Consumers of Specified Fuels (“Regulation”) was issued by the Government to increase the efficiency of the National Budget, and to increase the precision of subsidy allocations.
Quick ViewMinister of Transportation Regulation No. PM.8 of 2012 on Multimodal Transport Business Activities (“Regulation”) was recently issued to implement Government Regulation No. 8 of 2011 on Multimodal Transport. The Regulation applies to foreign and national multimodal transport businesses.
Quick ViewSpecial Jakarta Area Governor Regulation No. 13 of 2012 on 2012 Provincial Minimum Wages (“Regulation”) was issued to adjust minimum wages to current labor and economic conditions.
Quick ViewArticle 2 of the Regulation states that goods must be received or dispatched to or from an FTA at an airport or seaport that has been approved by the Minister of Transportation and designated as a Customs Area. Goods that are received outside the government designated airport or seaport will be subject to a Value Added Tax (VAT) and/or excise, as stipulated on in Article 17 (3).
Quick ViewThe Microfinance Bill is an important step toward creating legal certainty for microfinance activities in Indonesia and strengthening and developing a people-centered economy (ekonomi kerakyatan). The Bill’s main objective is to empower underprivileged and low-income citizens.
Quick ViewGovernment Regulation No. 1 of 2012 (“Regulation”) on the Implementation of Law No. 8 of 1983 on Value Added Tax on Goods and Services and Luxury Goods Sales Tax, as Amended by Law No. 42 of 2009 (“PPN and PPnBM Law”), has been issued to cover provisions not previously regulated under the PPN and PPnBM Law.
Quick ViewUnconventional oil and gas is defined in Article 1 (1) as oil and gas, such as shale oil, shale gas, tight sand gas, coal bed methane, and methane hydrate that is extracted from low permeability oil and gas reservoirs using special (unconventional) techniques, such as fracturing.
