The Government of Indonesia recently passed a new Stamp Duty Law (Law No. 10 of 2020 on Stamp Duty), which came into effect on January 1, 2021. The new Stamp Duty Law revokes Law No. 13 of 1985 on Stamp Duty (“Law 13/1985“). The Stamp Duty Law regulates stamp duty, the one-time tax on certain … Indonesia Introduces New Stamp Duty Law
Fintech products and services in Indonesia are mainly regulated by two government bodies, Bank Indonesia and the Financial Services Authority (OJK). Bank Indonesia Regulation No. 19/12/PBI/2017 regarding the Organization of Financial Technology, dated 30 November 2017, regulates fintech activities that require licensing or registration in relation to monetary stability, financial system stability and payment systems, … Fintech in Indonesia – Financial Regulation
Under the Indonesian Company Law, individuals capable of performing legal actions can be appointed as directors, except individuals who in the previous five years have been: Declared bankrupt. Members of a board of directors or board of commissioners found to be at fault in causing a company to be declared bankrupt. Sentenced for a … Establishing a Business in Indonesia – Directors and Board Composition
As a general rule, an electronic system provider in Indonesia must maintain a reliable and secure electronic system. Under Law No. 11 of 2008 on Electronic Information and Transactions (the ITE Law), an electronic system provider shall be held responsible for the operation of its electronic system. However, in practice, it is difficult for system … E-commerce in Indonesia – Defamation
SSEK Legal Consultants partner Denny Rahmansyah and Budi Widuro, an associate at the firm, have contributed a Q&A guide to Construction and Projects in Indonesia. The Q&A is part of the Thomson Reuters Practical Law global guide to construction and projects. Areas covered by the guide to Construction and Projects in Indonesia include trends and … SSEK Contributes Q&A Guide to Construction and Projects in Indonesia
In Indonesia, the size, composition and procedures for the appointment, replacement and dismissal of the board of directors (BOD) and board of commissioners (BOC) are determined in the articles of association (AOA) of the company. Law No. 40 of 2007 regarding Limited Liability Companies (the Company Law) only stipulates a minimum number of BOD and … Corporate Governance in Indonesia – Board Size and Composition
Restrictions on foreign shareholders are set out in the Negative Investment List (Daftar Negative Investasi or DNI), as contained in Presidential Regulation No. 44 of 2016 dated 18 May 2016 regarding List of Business Fields That Are Closed and Business Fields That Are Open With Requirements for Capital Investment (PR 44/2016). PR 44/2016 lists areas … Establishing a Business in Indonesia – Foreign Investment Restrictions
(18 December 2020) Media reports indicate that it is likely a new Government Regulation (\"GR‚Äù) on the calculation of termination pay in Indonesia will be issued as early as February 2021. An official draft of the GR has been circulated by the Coordinating Minister for Economic Affairs. Similar to Article 151 of the recently enacted … Indonesian Employment Law Update: New Draft Government Regulation on Termination Benefits
There is no specific rule in Indonesia that governs online advertising activities. Considering that online advertising is part of an electronic transaction, such advertising is subject to the provisions of Law No. 11 of 2008 on Electronic Information and Transactions (the ITE Law), Government Regulation No. 71 of 2019 on the Implementation of Electronic Systems … E-commerce in Indonesia – Advertising
Most private parties engaging in mining business activities in Indonesia do so in the form of a limited liability company. In respect of foreign investment, Law 25/2007 requires a joint venture company to be established in the form of a limited liability company. Local Entity Requirements A foreign investment company carrying out mining exploration activities … Mining in Indonesia – Business Structures
