News

W&P Newsletter – ADVANCE PRICING AGREEMENT – NEW MOF REGULATION (NEW FEATURES)

The Indonesian Minister of Finance (“MOF”) issued Regulation No. 22/PMK.03/2020 on Implementation Procedures for Advance Pricing Agreement (“MOF Regulation 22/2020”), revoking the previous MOF Regulation No. 7/PMK.03/2015 on the same subject matter. Advance Pricing Agreement (“APA”) is a tax facility applicable to certain qualified taxpayers, which, if approved by the tax authority, will be concluded… Read More »

W&P Newsletter – Indonesian Mining Law Finally Amended – The Highlighted Provisions

In an effort to provide more legal certainty for investors and to simplify the licensing procedures in the mineral and coal mining (“Mining”) sector, the Indonesian Government finally issued Law No. 3 of 2020 (“Law 3/2020”), which amends and annuls certain provisions of the previous Mining Law No. 4 of 2009 (“Law 4/2009”). Because the… Read More »

W&P Newsletter – DEVELOPMENT OF INTERNATIONAL TRADE IN INDONESIA: ENTERING A NEW ERA OF FREE TRADE AGREEMENTS

Free Trade Agreements (FTAs) and Indonesia From 1990 to 2015, there were only 10 FTAs concluded by the Indonesian government. Among those are the prominent FTAs, namely the ASEAN Free Trade Agreement (AFTA), ASEAN-China Free Trade Agreement (ACFTA), and Indonesia-Japan Economic Partnership Agreement (IJEPA). However, the more integrated economy after 2015 has inevitably changed the… Read More »

W&P Newsletter – Relaxation of Asset Quality Determination and Financing Restructuring Rules for Non-Bank Financial Institutions

On 28 January 2020, the Indonesian National Disaster Management Agency (Badan Nasional Penanggulangan Bencana or “BNPB”) declared a disaster emergency status due to the (“COVID-19”) outbreak in Indonesia. Following the declaration of the disaster emergency status, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued OJK Regulation No. 14/POJK.05/2020 on the Countercyclical Policy… Read More »

W&P Newsletter – BKPM Introduces New Guidelines for the Implementation of Integrated Electronic Business Licensing Service

In its latest effort to cut the red tapes of business licensing and to follow-up the takeover of Online Single Submission (“OSS”) system, as mandated by Government Regulation 24/2018 (“GR 24/2018”) (click here for the previous update), the Indonesian Investment Coordinating Board (Badan Koordinasi Penanaman Modal “BKPM”) issued Regulation No. 1 of 2020 on Guidelines… Read More »

W&P Newsletter – New Ministry of Health’s Guidelines of Dos and Don’ts at the Workplace during and after the Large-Scale Social Restriction (PSBB)

To maximize the implementation of the PSBB policy during the COVID-19 pandemic and to transition into the “new normal”, the Minister of Health has just issued a new Ministerial Decree No. HK.01.07/MENKES/328/2020 concerning Guidelines for COVID-19 Prevention and Control in Office and Industrial Workplace Settings to Support Business Sustainability during a Pandemic (“Guidelines”). The Guidelines… Read More »

W&P Newsletter – Indonesian Bankruptcy and PKPU Alert – New Rules by the Supreme Court

To provide further technical guidance in administering cases of bankruptcy and suspension of debt payment, the Indonesian Supreme Court has just issued a revised Guideline on Bankruptcy and Suspension of Debt Payment Case Settlements  (“Guideline”). Previously, the Guideline was enacted by virtue of the Chairman of the Supreme Court Decision No. 3/KMA/SK/I/2020 (“Decision 3/2020”). However,… Read More »

W&P Newsletter – Industrial Sectors Legal Alert – Exemption of Large-Scale Social

In response to the Covid-19 outbreak, the Indonesian Government has enacted specific regulations to impose the large-scale social restriction policy (pembatasan sosial berskala besar – PSBB). This policy temporarily limits mass activities within certain areas (please see W&P’s previous newsletters on large-scale social restriction and economic stability regulations here and measures taken by the Indonesian… Read More »

W&P Newsletter – Capital Markets Regulation Update on Material Transactions and Changes in Business Activities

On 21 April 2020, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued OJK Regulation No. 17/POJK.04/2020 on Material Transactions and Changes in Business Activities (“OJKR 17/2020”), annulling the previous Rule No. IX.E.2 as attached to Decision of Bapepam-LK No. KEP-614/BL/2011 dated 28 November 2011 on the same subject matter (“Rule IX.E.2”). Certain… Read More »

W&P Newsletter – Indonesian Antitrust Alert – Electronic Settlement of Antitrust Cases

Due to the COVID-19 outbreak, the Indonesia Competition Supervisory Commission – Komisi Pengawas Persaingan Usaha (“KPPU”) has issued KPPU Decision No. 12/KPPU/Kep.1/IV/2020 on Antitrust Cases Handling amid COVID-19 Outbreak  and KPPU Regulation No. 1 of 2020 on Electronic Settlement of Cases (“KPPU Regulation”), allowing KPPU to prioritize the use of the electronic media, including video… Read More »