The government changed the provisions regarding guarantees in the context of customs and excise activities. Minister of Finance Sri Mulyani Indrawati issued Minister of Finance Regulation No. 168/PMK.04/2022 concerning Guarantees in the Context of Customs and Excise Activities (“PMK 168/2022”) regarding guarantees in the customs framework that took effect on January 1, 2023. This was done to improve services to the public and ensure legal certainty for the user in the field of customs and excise.

The Government Regulation in Lieu of Law Number 2 of 2022 on Job Creation has amended Law Number 40 of 2007 on Limited Liability Company (“Law 40/2007”). The amendment has introduced new provisions on the requirements for the establishment of a limited liability company, including the shareholders’ requirements. Before the amendment, Law 40/2007 stipulated that a limited liability company must be established by at least two shareholders. However, after the amendment, Article 7 jo. Article 153A (1) Law 40/2007 allows for the establishment of a company by only one shareholder, but only if the company…

It is very common for a foreign investor to provide a capital loan to its subsidiary company in Indonesia. Pursuant to the tax issues on such transactions, Action Plan 13 has been implemented as a regulation in Indonesia. It is part of the Base Erosion and Profit Shifting (BEPS) Action Plans. In order to make investment to Indonesia easier, the Ministry of Finance has enacted Minister of Finance (PMK) Regulation Number 213/PMK.03 / 2016…

Frauds against creditors discussed in the new Indonesian Criminal Code are against a creditor who is facing bankruptcy. Before the enactment of Law No. 1 of 2023 on the Criminal Code (“New Criminal Code”) of law in Indonesia, the criminal provisions in bankruptcy have been stipulated in Law No. 1 of 1946 on Criminal Regulations (“Old Criminal Code”) of regulation in Indonesia. In the Old Criminal Code, the criminal provisions on bankruptcy are stipulated in Chapter XXVI under the title Acts Detrimental to Debtors or People Who Have Rights, whilst in the New Criminal Code, they are stipulated in Chapter XXVIII under the title Crime Against Confidence in Conducting a Business. The acts qualified as fraud in the New Criminal Code are still the same as stipulated in the Old Criminal Code.

Indonesia is blessed with an abundance of natural resources in the form of mineral commodities such as copper, tin, nickel, bauxite, iron, etc. To maximize the state’s revenue, business actors are allowed to export these commodities and the Indonesian Government, through regulation in Indonesia, has consented to a downstream mining policy.

Each and every company is required to tally up their business activity annually for the purpose conveying data and information about their company’s activities. Article 178 of Indonesian Government Regulation No. 96 of 2021 regarding Implementation of Mineral and Coal Mining Activities (“GR 96/2021”) states that the holder of a Mining Permit or Izin Usaha Pertambangan (IUP),..