On 10 November 2008, BAPEPAM-LK issued Regulation X.E.1 concerning the obligation of securities companies to submit periodic reports. This Regulation X.E.1 replaces a regulation issued in 2006 and is basically intended to improve the provisions of the previous regulation, especially on the procedures for submission ...
Decree of the Minister of Finance No. 424/KMK.06/2003 (as amended) which contains the guidelines on the financial condition of insurance and reassurance companies has been further amended by Regulation of the Ministry of Finance No. 158/PMK.010/2008 ...
A new regulation has been issued by the Minister of Health, namely Regulation of the Ministry of Health No. 1010/MENKES/PER/XI/2008 regarding the Registration of Medicines (“Regulation 1010/2008”). Regulation 1010/2008 revokes previous Ministry of Health Regulation No. 949/Menkes/Per/VI/2000. Under Regulation 1010/2008, a medicine to be distributed in Indonesia must first be registered before a Distribution License (Izin Edar) can be applied for ...
The new Income Tax Law is Law No. 36 of 2008. It intends to boost the competitiveness of Indonesia's economy and create a favorable investment climate. Under the new law, income tax for corporations will be 28% flat in 2009, replacing the existing progressive system. The rate will be further reduced to 25% in 2010 ...
Bank Indonesia issued Regulation No. 10/7/PBI/2008 on 19 February 2008 regarding Offshore Loans of Non-bank Companies. Offshore loans are one of the key factors which may have positive and negative impacts on balance of payments, monetary stabilization and development continuity ...
The Minister of Law and Human Rights issued Regulation No. 03.HT.03.10 of 2007 on 8 November 2007. Under Law No ...
Government Regulation No. 2 of 2008 regarding the Types and Rates of Non-tax State Revenue Derived from the Utilization of Forest Areas for the Development of Non-forestry Activities Applicable to the Department of Forestry ("GR No. 2/2008") introduces a new scheme of forest exploitation fees for non-forestry companies such as those engaged in mining, oil and gas, geothermal power and telecommunications companies conducting activities in forest areas ...
After lengthy discussion, the Indonesian House of Representatives finally passed the Bill on Limited Liability Companies into law on the 23rd of July 2007 and it was then signed by the President on the 16th of August 2007 and enacted as Law No 40 of 2007 regarding Limited Liability Companies ("Law 40"). Law 40 revokes the previous limited liability companies law, ie Law No. 1 of 1995 regarding Limited Liability Companies ("Law 1") ...
Since 26 April 2007, Indonesia has had a new Investment Law, namely Law No. 25 of 2007 regarding Investment (“New Investment Law”). The New Investment Law replaces two old laws; ie Law No. 1 of 1967 regarding Foreign Investment, and Law No 6 of 1968 regarding Domestic Investment, both as amended. The New Investment Law accommodates both foreign and domestic investment ...
The Government of the Republic of Indonesia ("GOI") understands that Indonesia is becoming part of the globalization of information. Consequently many new forms of legal actions which were not covered by current Indonesian laws and regulations now have to be regulated. On 21 April 2008, after being approved by the House of Representatives, the GOI enacted Law No 11 of 2008 regarding Information and Electronic Transactions ("Law No 11 of 2008") ...
In May 2008 the government of the Republic of Indonesia issued Government Regulation No. 39 of 2008 regarding the Second Amendment to Government Regulation No. 73 of 1992 regarding Insurance-Related Business Activities (Usaha Perasuransian) in order to anticipate the developing national insurance-related industries, including, among other things, insurance companies (perusahaan asuransi) ...
To protect consumers of oil and gas products, on 13 June 2008, the Minister for Energy and Mineral Resources issued Regulation No. 19 of 2008 regarding Guidelines and Procedures for the Protection of Consumers for Downstream Oil and Gas Business Activities (the "Regulation") ...
To ascertain compliance with laws and regulations relating to excise, on 23 June 2008 the Minister of Finance issued Regulation No. 91/PMK.04/2008 regarding Excise Audits, to conduct excise audits on factories, warehouses, importers, distributors, and anyone who uses imported goods that have been granted an excise exemption. The regulation came into force on 15 August 2008. The form of the audit can be a general audit, special audit, or investigative audit ...
After the enactment last year of the Investment Law, a new "negative list" of investment fields closed or conditionally open for investments was issued by Presidential Regulation No.77 of 2007. This has been amended by Regulation No.111 of 2007 ...
