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Firm: Makarim & Taira S.

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Bill on Stamp Duty
Makarim & Taira S., September 2020

In the first week of September 2020, the House of Representative passed the Bill on Stamp Duty and now it is waiting for approval by a plenary meeting of the House. The Bill is expected come into effect on 1 January 2021 given the time needed to issue the implementing regulation and for public awareness. The Bill will only recognize a single stamp duty, Rp10,000 unlike the current law which recognizes two stamp duties (Rp3,000 and Rp6,000)...

Government Measures in Employment Sector in Response to the COVID-19 Pandemic in Indonesia
Makarim & Taira S., May 2020

The Indonesian Ministry of Manpower (“MOM”) and some other Ministries have issued a number of regulations and policies or guidelines to manage and control the impact of the spread of COVID-19 in the Indonesian employment sector. Please find below a summary of the government measures:  I. Employers are encouraged to prepare plans to take preventive measures against the further spread of COVID-19 and to maintain the continuity of their businesses...

Public Service Obligation = Subsidy? A Case Study From BUMN
Makarim & Taira S., May 2020

What is the Public Service Obligation (PSO)? Whose obligation is it? What is the realization of the PSO? Some of us may not be familiar with the PSO and what actually means for a country. This article provides a general understanding of the PSO and particularly, how the PSO can affect us directly. First things first, what is the PSO? The PSO is a concept commonly adopted by all nations and as you might guess, it is the obligation of the government to serve the public...

The Enforceability of Interim Relief (Repossession) Under the Cape Town Convention and the Indonesian Aviation Law in Practice
Makarim & Taira S., April 2020

The Convention on International Interests in Mobile Equipment (“Cape Town Convention”) and Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft Equipment (“Protocol”) were concluded in Cape Town on 16 November 2001, and entered into force on 1 March 2006. They are to be read and interpreted as one instrument...

Country-by-Country Guide: Government Measures Taken in Response to COVID-19
Makarim & Taira S., April 2020

Please find a summary of regulations related to COVID-19 in more than 32 countries (including Indonesia prepared by our Firm) as per 22 April 2020 below. Economic Measures Loan Facilities: The Indonesian Financial Services Authority (OJK) issued Regulation No. 11/POJK.03/2020 (March 16, 2020), which relaxes the loan quality assessment and restructuring requirements for borrowers affected by COVID-19 until March 31, 2021...

Hearing at the District Court During the COVID-19 Spread
Makarim & Taira S., April 2020

The COVID-19 spread in Indonesia has caused several institutions in Indonesia to make certain adjustments, including in to hearings in district courts. On 23 March 2020, the Supreme Court issued Circular Letter No. 1 of 2020 on Guidance for the Implementation of Work during the Prevention of the Spread of Corona Virus Disease 2019 (COVID-19) within the Supreme Court and the other Courts, as was later amended by Circular Letter No...

National Disaster Declaration for COVID-19 Pandemic
Makarim & Taira S., April 2020

President Joko Widodo has finally declared the spread of Coronavirus Disease 2019 (“COVID-19”) a National Disaster under Presidential Decree No. 12 of 2020 (“PD 12/2020”) which was issued on Monday, 13 April 2020. Through PD 12/2020, the President has strengthened the role of the National Disaster Mitigation Agency (Badan Nasional Penanggulangan Bencana/ “BNPB”) as the COVID-19 Task Force (Gugus Tugas Percepatan Penanganan Coronavirus 2019)...

New Regulations and Policies Related to the COVID-19 Pandemic in Indonesia
Makarim & Taira S., April 2020

With the number of cases continuing to increase exponentially on a daily basis, the Coronavirus Disease 2019 (“COVID-19”) has now been determined a global pandemic by the World Health Organization (WHO) and has affected at least 213 countries across the world. On 2 March 2020, the Indonesian President, Joko Widodo announced the country’s first confirmed case...

BKPM Regulation No. 1 of 2020: Guidelines on the Provision of Integrated Electronic Business Licensing Services
Makarim & Taira S., April 2020

Overview On 1 April 2020, the Investment Coordinating Board (Badan Koordinasi Penanaman Modal – “BKPM”) issued BKPM Regulation No. 1 of 2020 on Guidelines on the Provision of Integrated Electronic Business Licensing Services (“BKPM Reg. 1/2020”).This regulation was issued to improve and streamline the licensing services provided through the Online Single Submission (“OSS”) System, to implement Article 94 (1) of Government Regulation No...

The Change to the Procedure for Case Management of Partnership Cases
Makarim & Taira S., April 2020

On 17 October 2019, the Indonesian Commission for the Supervision of Business Competition (“KPPU”) issued KPPU Regulation No. 4 of 2019 on The Procedure for Supervising and the Management of Partnership Cases (“KPPU Reg. 4/2019”) which revoked several previous KPPU regulations, i.e. KPPU Regulation No. 1 of 2017 on The Procedure for the Management of Partnership Cases (as amended) (“KPPU Reg. 1/2017”), and KPPU Regulation No...

Fiduciary Security Execution Redefined: The Indonesian Constitutional Court Ruling on Article 15 (2) and (3) of the Fiduciary Security Law
Makarim & Taira S., April 2020

Background On 15 February 2019, a petition for a judicial review was submitted by two individuals (“Petitioners”), claiming that their constitutional rights had been violated by Article 15 (2) and Article 15 (3) of Law No. 42 of 1999 on Fiduciary Security (“Fiduciary Security Law”)...

New Regulation on the Consolidation of Commercial Banks
Makarim & Taira S., April 2020

The Financial Services Authority (Otoritas Jasa Keuangan/“OJK”) recently issued OJK Regulation Number 12/POJK.03/2020 of 2020 on the Consolidation of Commercial Banks (“OJK Reg 12/2020”). This new regulation aims for strengthening the structure, resilience, and competitiveness of the national banking industry to support national economic stability and growth through the strengthening of bank capital and the consolidation of banks in Indonesia...

COVID-19 Pandemic Regulations in Finance Tax and Import Sectors
Makarim & Taira S., April 2020

Upon the ongoing spread of coronavirus disease (“COVID-19”) pandemic, the Indonesian Government has declared the COVID-19 as a national emergency situation. Following the nation’s COVID-19 emergency, the Indonesian Government have issued sets of regulations and policies in various sectors in order to control and mitigate the adverse impacts of the COVID-19 pandemic...

The Impact of the COVID-19 Pandemic on Enforcement of Merger Control Rules in Indonesia
Makarim & Taira S., April 2020

In relation to the COVID-19 emergency, the Indonesian Commission for the Supervision of Business Competition (“KPPU”) has made several adjustments to the enforcement of merger control rules through announcements in its official website and a press release stating that, as of 16 March 2020, they temporarily suspended all law enforcement activities, including notification filing and notification reviewing, until 6 April 2020...

MPW Instruction No. 02/IN/M/2020 on the Protocol for Preventing the Spread of COVID-19 in Construction Works
Makarim & Taira S., April 2020

Minister of Public Works and Housing recently issued Instruction No. 02/IN/M/2020 on the Protocol for Preventing the Spread of COVID-19 in Construction Works (“MPW Instruction 02/2020”). This instruction is a follow up to President Joko Widodo's instructions related to COVID-19 prevention efforts and the emergency status in Indonesia due to the COVID-19 pandemic up until 29 May 2020 declared under Head of the National Disaster Management Agency Decree No...

Aircraft Finance & Leasing in Indonesia
Makarim & Taira S., March 2020

The Indonesian aviation sector has grown rapidly over the past few years. Due to this, airlines and lessors have been capitalising on the general availability of diverse sources of funding. In particular, aircraft sale-leaseback or lease trans-actions are used more frequently due to competitive pricing and Indonesia has been trying to develop a legal framework to accommodate the financing and leasing of aircraft...

COVID-19 and Force Majeure
Makarim & Taira S., March 2020

COVID-19 continues to spread rapidly around the globe, including Indonesia. Consequently, on 12 March 2020, COVID-19 was declared a pandemic by the World Health Organization. Due to this pandemic, many businesses and factories are temporarily closed causing critical implications for businesses, both international and domestic...

The Minister of Energy and Mineral Resources Amends the Purchase Scheme for Renewable Sourced Electricity
Makarim & Taira S., March 2020

At the end of February 2020, the Minister of Energy and Mineral Resources (MEMR) issued Regulation No. 4 of 2020 (Reg. 4/2020), as a second amendment to MEMR Regulation No. 50 of 2017 on the Use of Renewable Energy for the Provision of Electric Power which was initially amended through MEMR Regulation No. 53 of 2018 (“Reg. 50/2017”). Reg...

A Message from Makarim &Taira in Light of COVID-19
Makarim & Taira S., March 2020

We are all facing an unprecedented event in our lives with the rapid spread of the COVID-19 virus. Although we are COVID-19 free, we are implementing precautionary and contingency measures to protect the safety and welfare of everyone at the Firm, and those who are connected to the Firm. Effective 16 March 2020, we have been implementing a work-from-home system...

Chambers Global Practice Guide: Insurance and Reinsurance 2020, An Exclusive Indonesia Chapter
Makarim & Taira S., March 2020

Chambers & Partners published its Practice Guide on Insurance and Reinsurance 2020. This guide provides expert legal commentary on key issues for businesses, and covers the important developments in the most significant jurisdictions...

Draft Omnibus Law: Manpower Chapter
Makarim & Taira S., February 2020

The highly anticipated Omnibus Bill (“the “Bill”) is taking its first step as the first draft was recently submitted to the House of Representatives. The Bill will amend (or simplify) various regulations on from licensing procedures, investment requirements, manpower, immigration, export-import, land procurement to special economic zones with the main focus being creating jobs...

A Guide to the Upcoming Indonesian Data Protection Law
Makarim & Taira S., February 2020

There had been several drafts of the law on Personal Data Protection until the final draft that was submitted by the Indonesian Government to the House of Representatives on 24 January 2020 (“Final Draft Law”). When passed, it will be Indonesia’s first framework legislation to specifically deal with and serve as the ‘umbrella regulation’ on personal data protection...

Indonesia on the Coronavirus (COVID-19) Outbreak: New Regulations and Policies
Makarim & Taira S., February 2020

On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of novel coronavirus or COVID-19 constituted a Public Health Emergency of International Concern (PHEIC). The COVID-19 is a respiratory illness caused by a new coronavirus which first originated in Wuhan, Hubei Province, China, the death toll from which has reportedly surpassed 1,000 on mainland China, while confirmed infections have passed 40,000 globally...

The Government Amends Government Regulation on Foreign Ownership in Insurance Companies
Makarim & Taira S., February 2020

The Indonesian government has recently issued Government Regulation No. 3 of 2020 (“New GR”) amending Government Regulation No. 14 of 2018 (“GR 14/2018”) on Foreign Ownership in Insurance Companies, which came into effect on 20 January 2020...

KPPU Regulation No. 4 of 2019
Makarim & Taira S., January 2020

The Indonesian competition authority, the Indonesian Commission for the Supervision of Business Competition (the “KPPU”) issued Regulation No.4 of 2019 on the Procedures for the Supervision and Handling of Partnership Cases (“Reg 4/2019”). This regulation replaces No.1 of 2015 on the Procedure for the Supervision of Partnerships, as amended, and Regulation No.1 of 2017 on the Procedures for Handling Partnership Cases, as amended (“Old Regulation”)...

 

 

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