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In Antitrust / Competition

Indonesia: KPPU may change its approach in assessing penalties for late merger filings

by 3 Mins Read

On 28 July 2023, speaking at a seminar at KPPU’s head office, the competition authority’s Director of Mergers and Acquisitions indicated that KPPU may consider applying a new method for calculating administrative fines taking into account the sanctioning provisions under the Government Regulation No. 44 of 2021. This would enable KPPU to impose fines of more than the nominal limit of IDR 25 billion set under the Government Regulation No. 57 of 2010, increasing the legal risks for failing to file merger notices on time.

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In AML & Financial Services Regulatory

Indonesia: OJK regulation on insurance sharia spin-off finally issued

by , , and 6 Mins Read

On 11 July this year, the Indonesian Financial Services Authority (OJK) issued the long awaited OJK Regulation No. 11 of 2023 on Spin-off of Sharia Units of Insurance Companies and Reinsurance Companies, which replaces the provisions on sharia unit spin-off of insurance and reinsurance companies in OJK Regulation No. 67/POJK.05/2016 on Licensing and Institution of Insurance Companies, Sharia Insurance Companies, Reinsurance Companies and Sharia Reinsurance Companies.

In Antitrust / Competition

Indonesia: KPPU bids to influence policy-making

by 2 Mins Read

Aiming to prevent anti-competitive policies being issued by various governmental institutions, on 31 March 2023 KPPU – the Indonesian Competition Commission, issued KPPU Regulation No. 4 of 2023 on the Provision of Inputs and Suggestions for Government Policies in relation to Monopolistic and/or Unfair Business Practices. In the past, various governmental policies, particularly on imports, quotas and commodities, have caused market distortion and resulted in KPPU issuing orders against other governmental institutions. Members of the public, including business entities, are welcome to provide input to KPPU if they become aware of a potentially anti-competitive governmental policy.

In Employment

Global: Reforming the Workforce in Uncertain Times [Webinar Series]

by , , , , , , , , and 1 Min Read

Baker McKenzie is proud to launch a series of webinars aimed at helping employers understand current employment trends and issues in the South East Asia region. Some of the topics discussed are Alternatives to the Traditional Employment Model, and complexities of Workforce Optimization.

In Antitrust / Competition

Indonesia: KPPU provides more clarity on negative impact of anti-competitive behavior

by 2 Mins Read

After more than 20 years enforcing the Anti-Monopoly Law (Law No. 5 of 1999 on the Prohibition of Monopolistic and Unfair Business Practices), KPPU – the Indonesian Competition Commission – having experienced the highs and lows of investigating a wide range of anticompetitive behavior, issued KPPU Chairman Regulation No. 2 of 2023 on Guidelines for Assessing Negative Impact from Monopolistic and Unfair Business Practices.

In Environment

Indonesia and Japan: Indonesia introduces CCS/CCUS Regulation

by 7 Mins Read

On 3 March 2023, the Indonesian Ministry of Energy and Mineral Resources enacted the Regulation on the Implementation of CCS (Carbon Capture and Storage) and CCUS (Carbon Capture, Utilization and Storage) in Upstream Oil and Gas Business Activities (MEMR2/2023). The Regulation covers a wide range of matters, including planning of CCS and CCUS projects, implementation, monitoring, CO2 measurement, reporting and verification, financing and monetization and closure of CCS and CCUS projects.

In Trade and Foreign Investment

Indonesia: Customs – Voluntary declaration and voluntary payment mechanism

by 6 Mins Read

As a general rule on customs valuation, there are certain types of costs that should be added to the customs value. But sometimes the costs cannot be determined at the time of import (or at the time of import declaration). Thus, in 2016 the Indonesian Minister of Finance (MOF) issued MOF Regulation No. 67/PMK.04/2016 on Voluntary Declaration of Customs Value for Import Duty Calculation (“MOF Regulation 67”), which introduced ways to declare and pay those costs in the form of a voluntary declaration and voluntary payment mechanism. To provide legal certainty and improve compliance in relation to the mechanism of voluntary declaration and voluntary payment of customs value, the MOF issued a new regulation on voluntary declaration and voluntary payment, i.e., MOF Regulation No. 201/PMK.04/2020 (“MOF Regulation 201”), which came into force on 16 February 2021, and revoked MOF Regulation 67.

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