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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BKPM Regulation No. 5 of 2019
The Investment Coordinating Board (Badan Koordinasi Penanaman Modal – “BKPM”) recently issued Regulation No. 5 of 2019 (“Reg No. 5/2019”) which came into effect on 29 July 2019.
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Amendments on The Establishment, Management, Supervision and Dissolution of State-Owned Enterprises
On June 8, 2022, President Joko Widodo signed Government Regulation No. 23 of 2022 (“GR No. 23/2022”) on Amendments to Government Regulation No. 45 of 2005 (“GR No. 45/2005”) on The Establishment, Management, Supervision and Dissolution of State-Owned Enterprises. GR No. 23/2022 amends several provisions of GR No. 45/ 2005.
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AGM Reminder 2017
For those companies who have completed their tax reporting responsibilities for 2016 accounting year, it is time to turn the board’s attention to the Annual General Meeting (“AGM”).
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CONSTITUTIONAL COURT RULING ON PRENUPTIAL AGREEMENT
The Constitutional Court on 27 October 2016 ruled on a judicial review application of Articles 21 (1) and (3) and 36 (1) of Law No. 5 of 1960 on Basic Provisions on Agrarian Principles (“Agrarian Law”) and Articles 29 (1), (3) and (4) and 35 (1) of Law No. 1 of 1974 on Marriage (“Marriage Law”) through ruling No. 69/PUU-XIII/2015.
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