Understanding the Latest Changes in IDX’s Delisting and Relisting Rule
Starting from May 2024, public investors in Indonesia enjoy greater transparency of information on potentially problematic listed companies and/or issuer of bonds or sukuk. This benefit was introduced under Indonesia Stock Exchange (Bursa Efek Indonesia or “IDX”) Regulation No. I-N on delisting and relisting of shares and debt-linked securities or sukuk (“Regulation”). Besides regulating delisting […]
New Regulation on Royalties of Books: A Victory for Authors
In June 2024, the Ministry of Law and Human Rights (“Ministry”) passed the Ministry of Law and Human Rights Regulation No. 15 of 2024 on the Management of Royalties for Secondary Licensing of Copyright of Books and Other Literary Works (“Regulation”). This Regulation aims to provide legal certainty for all parties when duplicating books or […]
National ID Number Replaces NPWP
In an attempt to simplify the tax framework in Indonesia, the Director General of Tax (“DGT”) has issued DGT Regulation No. PER-6/PJ/2024 (“Regulation”) to merge the individual tax ID numbers (Nomor Pokok Wajib Pajak or “NPWP”) with the national ID (Kartu Tanda Penduduk or KTP) number (called Nomor Induk Kependudukan or “NIK”). The Regulation is […]
Trademark Rules Update: Non-Use Period Extended to Five Years Before Potential Deletion
In July 2024, the Indonesian Constitutional Court handed down a decision[i] that extended the non-use period of trademarks from three years to five years. Non-use period of a trademark is when a registered trademark is not used in business related to the goods or services listed in the registration from its last use or registration […]
Mandatory Legal Audit is Set to Shake Business Practice
In late July 2024, the Indonesian government released a draft Presidential Regulation on Legal Compliance in the Formation and Implementation of Law (“Draft Regulation”). The Draft Regulation is a reflection of the government’s effort to ensure effective implementation and compliance of laws by legal entities (badan hukum), business entities (badan usaha), and public institutions (badan […]
Powering Indonesia: How the New Local Content Policy Will Benefit Electricity Infrastructure
The Indonesian government has taken a significant step in promoting domestic participation in the energy sector with the recent enactment of Minister of Energy and Mineral Resources Regulation No. 11 of 2024 on Utilisation of Domestic Products for the Construction of Electrical Infrastructure (“Regulation”). This new Regulation sets the new local content requirements for the […]