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News & Analysis

Indonesia’s Competition Authority Takes SME Partnership Supervision to a New Level

11 November 2022 by Makarim & Taira S - Indonesia

The year 2022 marks a historic era for Indonesia’s Business Competition Authority (“KPPU”) as it is the year KPPU ruling on Partnerships involving Small Medium Enterprises (“SME”)’s passed. While stakeholders find it undisputed that SME Partnerships are distinct from competition matters, the prevailing laws and regulations provide that the supervision of SME Partnerships is borne by KPPU. Now that KPPU is actively enforcing that authority, business actors need be aware of and observe this issue moving forward.

News & Analysis

Delhi High Court interprets the provision under Indian law relating to Protection of Trademarks through International Registration under the Madrid Protocol

18 October 2022 by Anand and Anand

Press Release by Anand and Anand - India

News & Analysis

Indonesia’s Personal Data Protection Law Finally Enacted

26 September 2022 by Makarim & Taira S - Indonesia

After extensive discussions and multiple changes to the draft bill since 2016, the Indonesian House of Representatives passed the draft bill on Personal Data Protection on 20 September 2022 (“Personal Data Protection Law”). The Personal Data Protection Law will be the basis of the regulations on personal data protection and this advisory highlights the key provisions.

News & Analysis

Update on the Terms of Domestic Non-Deliverable Forward Transactions Under Indonesian Law

18 August 2022 by Makarim & Taira S - Indonesia

Bank Indonesia recently updated its regulation on domestic non-deliverable forward (DNDF) transactions. Bank Indonesia Regulation No. 24/7/PBI/2022 on Foreign Exchange Market Transactions (“BI Reg. 24/7/2022”) replaces the previous regulation on DNDF, BI Regulation No. 20/10/PBI/2018 (as amended). BI Reg. 24/7/2022 makes some noteworthy amendments on the DNDF terms and introduces new thresholds and provisions on DNDF transactions. This Advisory covers the salient key points that banks and business actors need to note in the new BI Reg. 24/7/2022.

News & Analysis

Employment (Amendment of First Schedule) Order 2022

16 August 2022 by Shearn Delamore & Co - Sivabalah Nadarajah, Benedict Ngoh Ti Tang

On 12 August 2022, the much-anticipated Employment (Amendment of First Schedule) Order 20221 (“2022 Order”) was gazetted and it will come into force with effect from 1 September 2022.

News & Analysis

Registered Foreign Electronic System Organizers in Indonesia. What to do next?

08 August 2022 by Makarim & Taira S - Indonesia

As many existing foreign private Electronic System Organizers (foreign ESOs) have registered with the Minister of Communication and Informatics (MOCI) to comply with MOCI Regulation No. 5 of 2020 on ESOs in the Private Sector (as amended), this Advisory covers ‘what to do next?’ so that foreign ESOs that have been registered are aware of their key obligations once they are registered with the MOCI.

News & Analysis

Sheriff’s Expenses — The Requirement to Obtain Prior Sanction of the Court or the Sheriff

04 August 2022 by Shearn Delamore & Co - Rajasingam Gothandapani, Lynnette Tan Hui Ling

A case note by Rajasingam Gothandapani and Lynnette Tan Hui Ling.

News & Analysis

Update on the Registration Obligation of Private Electronic System Organizers

28 July 2022 by Makarim & Taira S - Indonesia

Under Government Regulation 71 of 2019 on the Implementation of Electronic Systems and Transactions, Electronic System Organizers (“ESO”) are required to be registered with the Ministry of Communication and Informatics (“MOCI”). In addition, under MOCI Regulation 5 of 2020 (as amended by MOCI Regulation 10 of 2021), this registration obligation must be complied with within 6 months of OSS-RBA licensing coming into effect.

News & Analysis

Should Hong Kong businesses be resetting their integrity agenda?

25 July 2022 by LC Lawyers

COVID-19 disrupted businesses globally and impacted the way they operate, with knock on effects on employees, counterparties and customers. Amid the turmoil, new opportunities and challenges emerged, some posing difficult ethical dilemmas affecting future viability and success of businesses. These factors created a perfect storm for misconduct. Two plus years on, we are starting to see its impact on businesses and their personnel.

News & Analysis

Regulation on The Taxation of Financial Technology Implementation Services

13 July 2022 by Makarim & Taira S - Indonesia

In order to provide clarity regarding the tax obligations of financial technology providers and users in Indonesia, 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, which came into force on 1 May 2022. This regulation mainly covers Income Tax on Peer-to-Peer and Value Added Tax on financial technology service transactions.