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FURTHER REGULATION ON FOREIGN OWNED PROPERTY

Following the issuance of Government Regulation No. 103 of 2015 on the Ownership of Houses or Housing by Foreigners Domiciled in Indonesia dated 22 December 2015 (“GR 103/2015”)

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MINIMUM WAGES IN DKI JAKARTA PROVINCE

To implement Government Regulation No. 78 of 2015 on Wages, the Governor of DKI Jakarta has just issued Governor’s Regulation No. 227 of 2016 on The Provincial Minimum Wage for 2017 (“Governor Regulation 227/2016”).

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DUTY ON THE ACQUISITION OF RIGHTS OVER LAND AND BUILDINGS FOR DKI JAKARTA PROVINCE

Following the issuance of Government Regulation No. 34 of 2016 on New Tariffs for Income Tax on Transfers of and Conditional Sale and Purchase Agreements for Land and/or Buildings,

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BANK INDONESIA REGULATES THE FINTECH BUSINESS

On 14 November 2016, Bank Indonesia officially launched its Financial Technology (or FinTech) Office.

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BP MIGAS DECLARED UNCONSTITUTIONAL BY CONSTITUTIONAL COURT

The Constitutional Court (“MK”) has struck down several articles in the Oil and Gas Law related to BPMigas’ establishment and duties.

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