The government of Indonesia understands that the capital market plays a strategic role in the national development as one of the sources of funding for business and also as investment instruments for Indonesians. Accordingly, to increase capital market’s role, having a strong legal basis to ensure legal certainty of the parties conducting capital market activity…Read more
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Background Business activities of non-bank foreign exchange is regulated under the Regulation of Bank of Indonesia No. 16/15/PBI/2014 on the Business Activities of Non-Bank Foreign Exchange (“PBI No. 16/2015”). The PBI No. 16/2015 was issued (i) by considering the business activity of foreign exchange as supporter of financial sector to support the achieving of stability…Read more
Background Head of Capital Investment Coordinating Board of Indonesia has issued the Regulation Number 17 of 2015 on the Guideline and Procedure for Controlling Capital Investment Operation (“PERKA BKPM 17/2015”), which became effective on 8 October 2015. This PERKA BKPM 17/2015 revokes Head of Capital Investment Coordinating Board Regulation No.3 of 2012. Capital Investment Capital…Read more
Background On 3 September 2015, Head of Capital Investment Coordinating Board of Indonesia has issued the Head of Capital Investment Coordinating Board Regulation Number 13 of 2015 on the Procedure of Applying for Facilities on Reduction of Entity Income Tax as lastly amended by Head of Capital Investment Coordinating Board Regulation Number 19 ofr 2015.…Read more
Background Procedure of procuring financing from foreign private creditors (“FPC”) is governed under Minister of Finance Regulation No. 45/PMK.08/2014 of 2014 (“MFR No. 45/2014”). This regulation has been enforced to renew the previous one, namely Minister of Finance Regulation No. 14/PMK.08/2012 of 2012 (“MFR No. 14/2012”) which is considered inappropriate with the current condition. Types…Read more
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