As a response to the evolving social and economic dynamics, the Indonesian government has renewed the Unemployment Insurance (“JKP”) program which was previously introduced through Government Regulation Number 37 of 2021 (“GR 37/2021”). The JKP program is designed to provide protection to workers who experience termination of employment (“PHK”), by offering benefits in the form … Read more
The role of the securities underwriter in the Initial Public Offering (IPO) process is crucial. The underwriter’s role spans the Pre-IPO, IPO Execution, and Post-IPO stages. During the Pre-IPO stage, the underwriter supports the company in devising an IPO strategy and conducting due diligence to ensure the prospective issuer’s compliance with IPO-related aspects. An IPO … Read more
In today’s rapidly evolving business landscape, the term ESG has emerged as a central theme. As global awareness of environmental challenges, social justice, and good governance grows, ESG has become a critical framework for companies to demonstrate their commitment to sustainability and accountability. But what exactly is ESG, and why are companies racing to report … Read more
This regulation aims to provide both fiscal and non-fiscal incentives to encourage entrepreneurs to participate in the construction and development of the IKN. Fiscal incentives are provided in the form of tax incentives, while non-fiscal incentives are provided in the form of simplified licensing procedures. The background of this regulation is to achieve the more … Read more
REGULATION OF THE MINISTRY OF FINANCE NUMBER 164 YEAR 2023 (MoF 164/2023) REGARDING PROCEDURES FOR THE IMPOSITION OF INCOME TAX ON INCOME FROM BUSINESSES RECEIVED OR OBTAINED BY TAXPAYERS WHO HAVE CERTAIN GROSS TURNOVER AND REPORTING OBLIGATIONS TO BE RECOGNIZED AS A TAXABLE ENTREPRENEUR This regulation aims to provide justice, legal certainty and convenience for … Read more
REGULATION OF THE DIRECTOR GENERAL OF TAXATION NUMBER 6 OF 2024 CONCERNING USE OF THE RESIDENTIAL IDENTITY NUMBER (NIK) AS A TAXPAYER IDENTIFICATION NUMBER (NPWP), TAXPAYER IDENTIFICATION NUMBER (NPWP) WITH 16 (SIXTEEN) DIGIT FORMAT, AND IDENTITY NUMBER OF THE PLACE OF BUSINESS ACTIVITY (NITKU) IN TAX ADMINISTRATION SERVICES This regulation aims to provide legal certainty … Read more
EXPANSION OF BANK INDONESIA’S AUTHORITY IN FOREIGN EXCHANGE REPORTING THROUGH REGULATION 9/2024 To support the overall stability of the rupiah, Bank Indonesia (“BI”) recently issued Bank Indonesia Regulation No. 9 of 2024 concerning the Management of Foreign Exchange Transactions (“LLD”) (“Regulation 9/2024”), which has been in effect since 23 December 2024. In broad terms, the … Read more
AMENDMENT ON LAND ALLOCATIONS FOR INVESTMENT MANAGEMENT REGULATION On July 22nd 2024, President Joko Widodo issued Presidential Regulation Number 76 of 2024 on Amendments to Presidential Regulation Number 70 of 2023 on Land Allocations for Investment Management (“Regulation 76/2024”). Several provisions in Presidential Regulation Number 70 of 2023 on the Land Allocations for Investment Management … Read more
REGULATION OF THE MINISTRY OF FINANCE NUMBER 172 YEAR 2023 REGARDING THE APPLICATION OF ARM’S LENGTH PRINCIPLES AND NORMALITY IN BUSINESS TRANSACTION INFLUENCED BY SPECIAL RELATIONSHIP. I. Arm’s Length Principles and Normality in Business (Prinsip Kewajaran dan Kelaziman Usaha/ ”PKKU”) Domestic Taxpayers who are the transaction counterparties can make relatedness adjustments if there are: Relatedness … Read more
OFFICIAL MEMORANDUM NO.ND-14/PJ/PJ.02/2024 AFFIRMATION OF THE IMPLEMENTATION MINISTER OF FINANCE REGULATION (PMK) NUMBER 66 OF 2023 CONCERNING INCOME TAX TREATMENT OF REIMBURSEMENT OR REWARDS IN CONNECTION WITH OCCUPATION OR SERVICES RECEIVED OR OBTAINED IN THE FORM OF BENEFIT IN KIND AND/OR ENJOYMENT Official Memorandum No. ND-14/PJ/PJ.02/2024 dated July 8, 2024, aims to provide uniformity and … Read more
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