Indonesian Legal Brief

OJK Updates Capital-Surcharge Allocations for Systematically Important Banks
With the purpose of avoiding any potentially adverse effects which may emerge as a result of banking system failures through the imposition of capital surcharges, the Financial Services Authority has issued Regulation No. 2/POJK.03/2018 on the Appointment of Systematically Important Banks and the Imposition of Capital Surcharges.
New Regulation on the Recruitment of Foreign Workers
With the ultimate objective of improving the national economy and bolstering investment within Indonesia, the government has now updated the rules governing the recruitment of foreign workers through the issuance of Regulation of the President of the Republic of Indonesia No. 20 of 2018 on the Recruitment of Foreign Workers.
Electronic-Payment Procedures for the Issuance of Certificates of Origin for Goods of Indonesian Origin
The Ministry of Trade has issued Regulation No. 37 of 2018 on Procedures for Payments of State Revenues for the Issuance of Certificates of Origin for Goods of Indonesian Origin Through Electronic Means, which updates the tariff of non-tax state revenue for the issuance of official Certificates of Origin for goods of Indonesian origin and which should also ensure transparency throughout PNPB payment mechanism.
Provisions on Four or More Wheeled Motor-Vehicle Industry Amended
The Minister of Industry has issued Regulation No. 5 of 2018, which amends Ministry Regulation No. 34/M-IND/PER/9/2017 on the Four or More Wheeled Motor-Vehicle Industry.
Provisions on Physical Activities for the Utilization of New and Renewable Energy and Energy Conservation Amended
The Minister of Energy and Mineral Resources has issued Regulation No. 12 of 2018, which amends Minister Regulation No. 39 of 2017 on the Implementation of Physical Activities for the Utilization of New and Renewable Energy and Energy Conservation.
Submission of Reports on the Mandatory Repatriation of Assets under the Tax-Amnesty Framework Amended
The Director General of Tax has issued Regulation No. PER – 07/PJ/2018 which amends Director General Regulation No. PER-03/PJ/2017 on Procedures for the Reporting and Supervision of Additional Assets under the Tax-Amnesty.
New Rules for the Utilization of the Intraday Liquidity Facility
The utilization of FLI is to be undertaken via a Repo mechanism for securities which are owned by Participants and which are made available in their FLI accounts
New Regulation on Government Procurement of Goods and Services
Presidential Regulation No. 16 of 2018 on the Public Procurement of Goods and Services has just been issued with the overall aim of simplifying procurements of goods and/or services which is funded by using State/Regional Budget by central/regional government institution.
OJK Sets Mechanism for Measurement of the Financial Soundness Levels of Venture-Capital Companies
The Financial Services Authority recently issued Circular No. 7/SEOJK.05/2018 on the Financial Soundness Levels of Venture-Capital Companies, as mandated by OJK Regulation No. 35/POJK.05/2015 on the Organization of Venture-Capital Businesses.
New Regulation on the Implementation of Trading Activity Supervision
The Ministry of Trade recently issued Regulation No. 36 of 2018 on The Implementation of Trading-Activity Supervision, as an implementation of Article 102 of Law No. 7 of 2014 on Trade which required the implementation of trading activity supervision to be further regulated under a ministerial level regulation.
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