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Financial Services Authority (OJK) Sets Out Restrictions on New Business Actors in Indonesia

The Financial Services Authority (“OJK”) issued the OJK Regulation in Indonesia No. 10/POJK.05/2022 concerning Information Technology Based Collective Financing Services (“POJK 10/2022”) which took effect on July 4, 2022, and revoked the Financial Services Authority Regulation No. 77/POJK.01/2016 (“POJK 77/2016”). The POJK 77/2016 was originally introduced to quickly respond to the Peer-to-Peer Lending (P2P Lending) industry…

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Ratification of Personal Data Protection Law of Indonesia

The House of Representatives of the Republic of Indonesia finally ratified the Personal Data Protection Bill (PDP Bill) into law (PDP Law) on 20 September 2022 in accordance with the regulation in Indonesia, with updates and additional clauses that are more comprehensive in accommodating personal data protection. Indonesia now joins other jurisdictions in Southeast Asia that have dedicated personal data protection laws, including Singapore and Thailand. However, the PDP Law not gone into effect…

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The Legal Aspect of Electronic Agreements in Indonesia

Contracts have been a staple in most business and commercial activities. Recently, an electronic agreement has become the most preferable form of contract for foreign investors for investment in Indonesia. The law in Indonesia covers the use of electronic agreements. The electronic agreement or electronic contract is defined in Article 1 Number 17 of Law no. 11 of 2008 concerning Information and Electronic Transactions (EIT Law) as an agreement between the parties made through an electronic system. Electronic agreements are made…

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Tax Credits on Overseas Income of Domestic Taxpayers in Indonesia

In the current era of globalization, international trade activities are a source of state income for the country. One of the essential aspects that needs to be considered by business actors in the field of international trade is taxation. In accordance with Law No.36 of 2008 jo. Law No.7 of 2021 (“Tax Law”) of regulation in Indonesia, income tax is any additional economic capability received or obtained by the taxpayer, both from Indonesia…

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Electronic System Provider (PSE) Registration Provisions in Indonesia

The blocking of Private Scope Electronic System Operators (“PSE”) that missed the Ministry of Communication and Information’s (“Kominfo”) notice of the registration deadline resulted in several PSE’s being blocked, including PayPal, on July 30th, 2022. As a result, the policy has sparked public outcry. In response, Kominfo announced a new approach to temporarily open the PayPal website and expects consumers who utilize PayPal services will be…

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Amendment to Smelter Licenses in Indonesia: Annulment of Special Operation Production Mining Business License for Implementation of Industrial Business License

In accordance with the government’s program to promote the value of natural resource commodities and with the enactment of Law No.3 of 2020 concerning amendments to Law No.4 of 2009 (“Law 3/2020”), there has been a significant change in the licensing to carry out smelter operation business, especially smelter for nickel as a commodity. It is hoped that…

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Labor Law Guide: What You Need to Know in the Event of a Labor Strike in Indonesia

Regulations in Indonesia are very dynamic. This is to create ease for investment to Indonesia. Changes in regulations, specifically in the area of labor issues, can sometimes trigger a conflict between the employer and the laborers, leading to a strike. A strike is an action by laborers that is planned and carried out jointly and/or by a trade union/labor union to stop or slow down work. Strikes by laborers are thankfully not a regular occurrence, but…

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Construction Consortiums in Indonesia

A consortium is a group of two or more individuals or companies that work together to achieve a common objective. Entities participating in a consortium pool resources but are otherwise only responsible for the obligations set out in the consortium’s agreement. Therefore, every entity under the consortium remains independent regarding their normal business operations and has no say over another member’s operations that are unrelated to the consortium. The law in Indonesia does not require using a particular standard form of agreement issued by a specific organization.

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Revocation of Export Prohibition on Crude Palm Oil and its Derivatives in Indonesia

On June 8, 2022, the Ministry of Trade lifted the temporary export prohibition on Crude Palm Oil, Refined, Bleached and Deodorized Palm Oil, Refined, Bleached and Deodorized Palm Olein, and Used Cooking Oil (“CPO and its derivatives”) commodities through Minister of Trade Regulation No. 30 of 2022 in conjunction with the Minister of Trade Regulation No. 39 of 2022 (“MoTR 39/2022”), which creates a positive outlook for investment in Indonesia.

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