Mandatory Deposit of Foreign Exchange Export Proceeds Deriving from Natural Resources
On 10 January 2019, the Indonesian Government enacted Government Regulation No. 1 of 2019 on Export Proceeds from the Exploitation, Management, and/or Processing of Natural Resources (“GR 1/2019”). The regulation is purported to maintain the continuity of development as well as the enhancement and tenacity of the national economy from foreign exchange derived from natural resource exports (Devisa Hasil Ekspor Sumber Daya Alam/ “DHE SDA”) entering the Indonesia financial system.
Read more about the coverage of GR 1/2019 in our latest advisory.
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