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),..
Mandatory Annual Mining Activity Report in Indonesia Read More »
According to Presidential Regulation No. 13 of 2018 regarding the Implementation of the Principles of Recognizing Beneficial Ownership of Corporations to Prevent and Eradicate the Criminal Acts of Money Laundering and Terrorism Financing (“PR 13/2018”), each corporation is required to determine the Beneficial Ownership (“BO”) of the corporation.
The law in Indonesia is dynamic and open for recodification, actualization and harmonization to local culture and customs. On 5th December, Indonesian lawmakers passed a new criminal code, heavily criticized by foreign news agencies for the ban on extramarital sex. The new criminal codes (“NCC”) have led economists to note the potential negative impacts on investment in Indonesia, specifically in the tourism business sector as the law also applies to foreign tourists.
The Criminal Code or Kitab Undang-Undang Hukum Pidana (KUHP) is the foundation of the regulation in Indonesia that stipulates criminal acts, originating from Dutch colonial law, namely Wetboek van Strafrecht voor Nederlands-Indie, which has been in effect since 1918. The Criminal Code is a prominent principle of criminal law in Indonesia as the Criminal Code deals with criminal rules, violations and other regulations related to crime.
Ratification of the Indonesian Criminal Code Bill Read More »
Law Number 11 of 2020 on Job Creation (“Law 11/2020”) was ratified on 2nd November 2020 as the applicable regulation in Indonesia. However, the implementation of Law 11/2020 became ineffective right after Indonesian Constitutional Court (“MK”), through MK Decision Number 91/PUU-XVIII/2020, deemed Law 11/2020 as conditionally unconstitutional. To tackle this concern, Indonesia’s government contrived Indonesia Government…
Replacement of the Previous Job Creation Law in Indonesia Read More »
Indonesia’s Government strives to optimize licensing procedures for business entities through regulation in Indonesia, so licensing registration can be carried out quickly and precisely. Article 1…
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…
An Introduction to the Indonesia Second-home Visa Read More »
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…
The Ministry of Investment/Indonesia Investment Coordinating Board (Badan Koordinasi Penanaman Modal or “BKPM”) issued BKPM Regulation No. 4 of 2021 on Guidelines and…
The Minister of Energy and Mineral Resources, Arifin Tasrif, issued the Minister of Energy and..
