Reg. 21/2 partially revokes BI Regulation No. 16/22/PBI/2014 on the Reportingof Foreign Exchange Flow Activities and the Reporting of the Application of thePrudential Principle in the Management of Non-Bank Entities’ Foreign Debts(“Reg. 16/22”), replacing all the provisions of Reg. 16/22 on the reporting offoreign exchange flow activities. Therefore, when Reg. 21/2 comes into effect inMarch 2019, Reg. 16/22 will only cover reporting on the application of theprudential principle (kegiatan prinsip kehati-hatian– KPPK).
Foreign Exchange Flow Report
Scope
Reg. 21/2 has added risk participating transactions (transaksi partisipasi risiko – “TPR”) to be reported as a part of the foreign exchange flow report (“Flow Report”). A TPR is defined as a risk assignment transaction of individual credit or other facilities under a master risk participation agreement. The scope of the Flow Report (“Flow Report Scope”) covers the following data and information:
- trade transactions of goods, services, and other transactions between a resident (ie a person, legal entity or other entity domiciled in Indonesia) and a non-resident;
- principal data of offshore debts (utang luar negeri – “ULN”) and/or TPR;
- the plan of the ULN and/or TPR disbursements and/or payments;
- the realization of the ULN and/or TPR disbursements and/or payments;
- the position of and amendments to offshore financial assets (aset finansial luar negeri), offshore financial liabilities (kewajiban finansial luar negeri) and/or TPR; and/or
- a new ULN plan and/or its amendment.
Except for TPR and the information required in items c) and d) of the Flow Report Scope above on the plan and realization of ULN and/or TPR disbursements which are now covered by Reg. 21/2, the remaining scope of the Flow Report above is similar to the scope under Reg. 16/22. The Flow Report must be submitted by the reporting party online through BI’s reporting website.
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