NEW REGULATION ON CAPITAL INVESTMENT LICENSING AND FACILITIES

Issue 7, April 2024 | This advisory covers the updating of the Personal Data Protection Agency, one of the forthcoming developments under Indonesia’s Personal Data Protection Law.

Although it is included in Indonesia’s annual national legislation program (Program Legislasi Nasional/Prolegnas) so far, the draft new Indonesian Competition Law which will replace Law No. 5 of 1999 on The Prohibition against Monopolistic Practices and Unfair Business Competition (the “Competition Law”), has not been passed.

On 29 March 2018, President Joko Widodo issued Presidential Regulation Number 20 of 2018 on Foreign Manpower Utilization (“Presidential Reg 20/2018”).

Indonesia’s Minister of Finance (“MOF”) issued MOF Regulation No. 69/PMK.03/2022 on the Income Tax and Value Added Tax on the Organization of Financial Technology (“MOF Reg 69/2022”) on 30 March 2022.