Mergers and acquisitions in Indonesia have increased significantly in 2020 and 2021. Does this lead to monopolistic practices and unfair business competition?
Mar 16, 2022
The Commissioner of the Business Competition Supervisory Commission or Komisi Pengawas Persaingan Usaha ("KPPU" ), Ukay Karyadi, stated that mergers and acquisitions in Indonesia have increased significantly in 2020 and 2021. It was noted that in 2019, the number of notifications of mergers and acquisitions was 123, rising to 196 notifications in 2020 and 233 notifications in 2021.
Why You Should (WNI and WNA) Have Social Health Insurance (BPJS) When You Buy a Property in Indonesia
Mar 09, 2022
The government, through legal instruments, has designed a National Health Insurance Program ("JKN") which is mandated to the Social Health Insurance Administration Body ("BPJS Kesehatan") as stated in Article 19 paragraph (2) of Law Number 40 of 2004 which explains that JKN is held to ensure that participants receive the benefits of health care and protection to meet basic health needs. Recently, the President of the Republic of Indonesia issued Presidential Instruction Number 1 of 2022 ("Inpres No.1/2022") which contains the
Corporate Governance in Indonesia: Change of Directors and Commissioners
Mar 02, 2022
In addition to the General Meeting of Shareholders, there are a Board of Directors and Board of Commissioners that are also bodies of limited liability companies in Indonesia. The Board of Directors (BOD) is the company's body that manages the day-to-day business, and the Board of Commissioners (BOC) supervises the director(s) and can step in and report to the shareholders if necessary. From time to time, companies will change their director or commissioner. Since the director and commissioner are not a regular employee, a specific procedure applies for such an amendment.
Contract Law Guide: How to amend the EPC Contract in a disagreement between consortium members
Feb 23, 2022
A construction project, specifically for an EPC project, is typically conducted by contractors in a consortium. The implementation of the EPC Contract was often changed or adjusted according to the project circumstances. In some situations, a disagreement between the consortium members related to the contract amendment was unavoidable. For example, we had a client (contractors, consortium members) who needed to change a provision regarding the retention money and was willing to replace the retention money with a warranty bond, which is our client's obligation according to the EPC Contract
New Value Added Tax (VAT)
Feb 08, 2022
The COVID-19 pandemic has left lasting damage, not only to public health, but to the economy as well. A lot of effort will be required to recover both aspects, both by the government and by individuals. One of the steps that the government has taken to accelerate economic growth during this pandemic is issuing a new tax regulation in the form of Law No. 7 of 2021 regarding Tax Regulation Harmonization (Law No. 7 of 2021) on 29th October 2021 which revised many tax provisions, including the Value Added Tax (VAT) which was previously regulated in No. 42 of 2008 regarding Third Amendment to Law No. 8 of 1983 concerning Value Added Tax on Goods and Services and Sales Tax on Luxury Goods (Law No. 42 of 2008).
Ministry of Energy and Mineral Resources Invites Other Ministries/Agencies to Accelerate Electric Vehicle Conversion
Feb 02, 2022
The Ministry of Energy and Mineral Resources (MEMR) invites Government Ministries and Institutions in Indonesia to participate in supporting the acceleration of the national program to implement Battery-Based Electric Motorized Vehicles (Kendaraan Bermotor Listrik Berbasis Baterai / KBLBB) for road transportation, especially two-wheeled roadworthy operational vehicles with a book value of Rp. 0.
Renewal of LSBU Application Process
Jan 26, 2022
On 25th November 2021, the Minister of Public Work and Housing issued Circular Letter No. 21/CL/M/2021 Regarding Procedures for Fulfilment of Business Licensing Requirements, Implementation of Construction Work Competence Certification, and Implementation of Business Entity Certificates and Construction Work Competency Certificates (CL 21/2021). The Circular Letter stipulates many things, such as Fulfilment of LSBU/ Lembaga Sertifikasi Badan Usaha (Business Certification Institute) Business Licensing Requirements, Fulfilment of LSP/ Lembaga Sertifikasi Profesi (Profession Certification Institute) Business Licensing Requirements and the Fulfilment of Business Licensing Requirements for Construction Services Business Entities.
Progress of Solar Photovoltaic in Asean Countries: A Review
Jan 25, 2022
The present global energy scenario, in which fossil fuels play a preponderant role, faces significant energy and environmental challenges. To help address these challenges, countries across the world are increasing the contribution made by renewable energy (RE) resources to their energy supplies. Feed-in Tariff (FiT) is one of the most effective incentive policies used to promote the RE sector especially at the micro-generation level.
Public Activities Restriction in the Island of Java and Bali
Jan 21, 2022
The Minister of Home Affairs issued The Minister of Domestic Affairs Instruction No. 03 the Year 2022 regarding the Implementation of Public Activities Restrictions Corona Virus Disease 2019 Level 3, Level 2, And Level 1 In Java and Bali islands. This Instruction clarifies the level of Community Activities Restriction (PPKM) in these areas, along with the list of activities that are allowed and prohibited.
Domestic Coal Market Obligation and Temporary Export Ban
Jan 19, 2022
Domestic Market Obligation (DMO) of coal is the obligation of Business Entities to submit part of its share of coal production to the state through the Implementing Body in the context of supplying coal to meet domestic needs, the amount of which is regulated in the Cooperation Contract. This DMO regulation is essential to control the amount of coal