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An Introduction to the Indonesia Second-home Visa

The COVID-19 pandemic has caused a catastrophe for Indonesia’s economy. Indonesia has been facing a recession since 2020, when the economic growth plunged to -2.07%. The recovery began in 2021, indicated by the surge of the economic growth. In 2022, the recovery has continued to be the focus for the Government of Indonesia, thus the government focusing on creating law in Indonesia and regulation in Indonesia that can make investment easier. However, the economic uncertainty for 2023 is haunting. Global economic growth is predicted to be slowed due…

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Terminating the Electrical Steam Power Plant Under Presidential Regulation No. 112 of 2022 in Indonesia

The promulgation of the law in Indonesia by Presidential Regulation No. 112 of 2022 concerning the Acceleration of Renewable Energy Development for Electricity Supply (“PR 112/2022”) is a sign that Indonesia will start implementing low-emission electricity projects to protect the environment. PR 112/2022 stipulates the Electric Supply Business Plan (Rencana Usaha Penyediaan Tenaga…

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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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THE TAX HOLIDAY FACILITY

Who does it apply to and why?

In order to attract investment, The Government of Indonesia amended the previous Minister of Finance Regulation No. 159/PMK.010/2015 JO No. 103/PMK.010/2016 (“PMK”) regarding Corporate Income Tax Reduction Facilities (otherwise known as the Tax Holiday Facility) with the latest Minister of Finance Regulation No. 35/PMK.010/2018 (“Regulation”). The new Regulation became effectively enforced on 04 April 2018. Subsequenlty, PMK has been revoked and declared null and void by Regulation.
For clarification,…

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