Indonesian Legal Brief

Provisions on the Temporary Suspension and Postponement of Financial Transactions Updated
As one of the measures which is being aimed at the prevention of money-laundering and terrorism-financing activity, the Financial Transaction Reports and Analysis Centre (PPATK) has issued Regulation No. 18 of 2017 on the Implementation of the Temporary Suspension and Postponement of Transactions by Financial Service Providers.
OJK Updates Financial-Statement Liabilities for Issuers and Public-Company Boards of Directors
In order to redefine the scope of financial-statement liability as it applies to the Boards of Directors of issuers or public companies, the Financial Services Authority has issued Regulation No. 75/POJK.04/2017 on the Financial-Statement Liabilities of Boards of Directors.
Procedures for the Collection of Tax-Related Information from Governmental Institutions, Associations and Certain Businesses
The Ministry of Finance has issued Regulation No. 228/PMK.03/2017 on Details of Types of Data and Information, as Well as Procedures for the Submission of Taxation-Related Data and Information, which serves as an implementation of Articles 3 (4), 4 (1), 5 (2) and 7 (3) of Regulation No. 31 of 2012 on the Provision and Collection of Taxation-Related Data and Information.
Provisions on Import Recommendations for Horticultural Products Reregulated
In a bid to boost efficiency as regards the management of the importation of horticultural products, as well as to ensure certainty as regards the issuance of recommendations for imports of horticultural products and also to encourage the domestic production of horticultural products, the Ministry of Agriculture has issued Regulation No. 38/PERMENTAN/HR.060/11/2017 on Import Recommendations for Horticultural Products.
New Regulation on Preferential Income-Tax Treatment for Foreigners and Indonesians Under International Agreements
Due to the introduction of new cooperation agreements with several new international organizations, the Ministry of Finance has renewed various provisions on income-tax treatment through the issuance of Regulation No. 202/PMK.010/2017 on the Implementation of Income-Tax Treatment Based on International-Agreement Provisions.
BPOM Introduces New Type of SKI for Importation of Food and Drugs
With the ultimate objective of increasing the supervision of the distribution of food and drugs, the National Agency for Drug and Food Control (Badan Pengawas Obat dan Makanan - “BPOM”) has introduced new types of import certificates through the issuance of Regulation No. 30 of 2017 on the Supervision of Imports of Drugs and Foods into Indonesian Territory.
Integrated Licensing Facility for the Operational Affairs of Commercial Banks
Bank Indonesia has issued Regulation No. 19/13/PBI/2017 on One-Stop Services at Bank Indonesia for the Operational Affairs of Commercial Banks. In essence, Regulation 19/2017 introduces an integrated-service facility established by BI for the provision of licenses which relate to operational affairs between commercial banks and BI.
Tax Treatment for Gross-Split Production Sharing Contracts Finally Regulated
After almost a year after it was originally enforced, the government has finally set an applicable tax treatment for Gross-Split Production Sharing Contracts (GS-PSC) through the issuance of Government Regulation No. 53 of 2017 on Tax Treatment for Upstream Oil-and-Gas Business Activity through Gross-Split Production Sharing Contracts .
Online Submission of Documents Relating to Registration Statements and Corporate Actions
The Financial Services Authority has issued Regulation No. 58/POJK.04/2017 on the Electronic Submission of Registration Statements and Applications for Corporate Actions. Regulation 58/2017 has been issued in a bid to improve services to issuers and public companies within the capital market through the utilization of information technology.
Procedures to Employ Foreign Advocates Simplified
In a bid to simplify procedures to employ foreign advocates, the Ministry of Law and Human Rights has issued Regulation No. 26 of 2017 on Requirements and Procedures to Employ Foreign Advocates and Obligations for the Provision of Pro-Bono Services to the Legal Education and Research Sector .
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