New OJK Rule on Public Accountants and Public Accountant Offices The issuance of this new rule has an impression on the engagement of exterior auditors by publicly-listed companies given that public firms are one of many subjects being regulated and supervised by OJK. Data Categorization for Electronic System Operators Providing Public Services The MOCI has issued a draft amendment to Government Regulation No. eighty two of 2012 which requires digital system operators providing public companies to have onshore knowledge centers and disaster recovery facilities. The New Tax Holiday Regulation of Indonesia New Minister of Finance regulation provides more engaging corporate revenue tax discount services for investors. NIK New Development The DGCE regulation requires an organization to process the IMTA and NPWP for foreign directors not residing in Indonesia. Franchise Agreements in Indonesia A franchise, underneath Indonesian regulations, is defined as a special proper owned by an individual or a legal entity to a unique enterprise system that has confirmed successful in promoting items and/or services, and can be used by another get together primarily based on a Franchise Agreement.
- The Development of Personal Data Protection in Indonesia After months of drafting and deliberation, Indonesia’s Ministry of Communication and Informatics (“MOCI”) in late 2016 issued a long-awaited regulation on the safety of personal information.
- Circular 24 only allows overseas registrars to provide “.vn” area name registration service outside Vietnam, whereas in earlier legislation they have been allowed to offer this service both in and outdoors Vietnam.
- Under the notification, the six firms authorized by the prime minister to mine and trade cryptocurrency in Laos pays a capped payment for power they use in data processing or mining cryptocurrency.
- Our first commentary seems at redundancy tendencies, updates on altering phrases and situations, and the potential employment declare impact on insurers of any increase in insolvencies.
Guide to Benefits in Indonesia In 2011, the Indonesian authorities reformed its National Social Security System and handed Law No. 24 on the Social Security Organising Body to assist meet the essential needs of the country’s inhabitants. Companies in Indonesia are required to register staff within the Indonesian government’s employment social security programmes. New Regulation on Trademark Registration and Criteria on Well-Known Trademark Regulation sixty seven grew to become effective on 30th January 2017 and provides more detailed provisions on trademark registration procedures criteria to discover out the similarity of goods/services as properly as standards on well-known trademarks.
Can Personal Seals Be Used As A Substitute Of Signatures In Doing Business Transactions In Thailand?
To learn extra about our companies and get the newest legal insights from across the Middle East and North Africa area, click on the link below. This edition of our Luxembourg Legal Update covers, amongst other topics, Bill N° 6398 on the modification of the Insurance Sector Law and the Grand Ducal Regulation of 14 December on the new obligatory procedure for the filing of monetary info with the Luxembourg register of commerce. This version of our Luxembourg Legal Update covers, amongst other matters, the CSSF Annual Activity Report for 2014 and the Prospectus Law, and a case law on the limitation of legal responsibility clause for banks. This version covers, amongst other matters, Reserved Alternative Investment Funds and the Law of 18 December 2015 amending certain provisions of the Companies Law, the Law on the Register of Commerce and Annual Accounts and the Luxembourg industrial code. This edition covers, amongst other topics, the Law of 11 October 2016 on the reform of the parental go away, the Law of 23 July 2016 on the new type of simplified S.à.r.l.
BKPM Stops Issuing Licenses On twenty first June, the federal government issued Regulation No. 24 of 2018 on Electronic Integrated Business Licensing Services. As a consequence, the BKPM will quickly suspend the processing and issuing of licenses and will transition to a nationwide Online Single Submission system. Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19 The COVID-19 world pandemic has taken a toll on the Indonesian economy, underlining the necessity for financial establishments to have enough liquidity in the face of uncertain instances. New Developments in Indonesian Immigration Policy On September eleven, 2020, the Indonesian Government enacted a model new regulation that introduces several modifications to the immigration regime that affect foreigners, Indonesians and the procurement of journey paperwork. Sign up for the GBG Indonesia Quarterly Business Intelligence Report for the latest news in your sector.
The Position Of Courts On The Seat Of Arbitration
Bank Indonesia Regulations on Foreign Exchange Transactions Bank Indonesia recently issued several rules associated to overseas exchange transactions by Indonesian banks. These laws update existing regulations issued by BI with the aim of making a healthy foreign exchange market in Indonesia, as is explained in this brief abstract. Government Changes Divestment Requirements for Mining Companies in Indonesia Indonesia’s mining business remains in flux. On 14th October 2014, the Indonesian Government issued the third amendment to Government Regulation No. 23 of 2010 relating to the Implementation of Mineral and Coal Mining Business Activities and in doing so introduced revised divestment requirements. Guide to Background Checks in Indonesia Employers in Indonesia frequently perform background checks on applicants.