NEW REGULATION ON CAPITAL INVESTMENT LICENSING AND FACILITIES

The Investment Coordinating Board (Badan Koordinasi Penanaman Modal/”BKPM”) issued two new sets of regulations on investment, i.e.

The Financial Services Authority (“OJK”) issued OJK Regulation No. 37/POJK.04/2018, on 31 December 2018 on equity crowdfunding services (the “Crowdfunding Services”) which allow offers of shares for sale by an issuer directly to investors through an open information technology system (“POJK 37/2018”).

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.

The Indonesian Government has issued Government Regulation No. 14 of 2021 (“GR 14/2021”), as one of the implementing regulations of Law No. 11 of 2021 on Job Creation (the “Omnibus Law”), which amends Government Regulation No. 22 of 2020 on the Implementing Regulation of Law No. 2 of 2017 on Construction Services (“GR 22/2020”). GR 14/2021 introduces more detailed provisions than GR 22/2020 and this advisory highlights the key provisions.