Regulations Promulgated in 2023

General Corporate
Regulation of the Minister of Finance No. 82 of 2023 on Types and Tariffs of Non-Tax State
Revenue for Urgently Required Golden Visa Services Applicable at the Ministry of Laws and
Human Rights
Enforcement Date: 30 August 2023
Summary:
In essence, the Non-Tax State Revenue (Penerimaan Negara Bukan Pajak – “PNBP”) for
urgently required Golden Visa Services encompasses income from: 1) Visas; 2) Immigration
permits; and 3) Other immigration PNBP.
The range of tariffs breaks down as follows: 1) Visas (Rp. 500,000 – Rp. 15 million); 2)
Immigration permits (Rp. 100,000 – Rp. 15 million); 3) Other immigration PNBP (Rp.
500,000).

Joint Regulations of the Minister of Foreign Affairs, Chief of the Indonesian National Police
Force, Chief of the Indonesian Financial Transaction Reports and Analysis Center, and Chief of
the Nuclear Energy Regulatory Agency No. 7, 2, 12, 2 of 2023 on the Second Amendment to
the Joint Regulations of the Minister of Foreign Affairs, Chief of the Indonesian National
Police Force, Chief of the Indonesian Financial Transaction Reports and Analysis Center, and

Chief of the Nuclear Energy Regulatory Agency Regulations No. 4 of 2017, No. 1 of 2017, No.
9 of 2017 and No. 5 of 2017 on the Inclusion of the Identities of Persons and Corporations
and the Blocking of Persons and/or Cooperation for Other Persons’ Funding on the Funding
of the Proliferation of Weapons of Mass Destruction List
Enforcement Date: 5 September 2023
Summary:
Among other new initiatives, the Amendment now prohibits all Indonesian persons and
corporations located within Indonesia from providing funding to or working in the interests
of any individuals or corporations that are included on the Proliferation of Weapons of
Mass Destruction List issued by the PPATK, including funding deriving from funds which are
owned or controlled by individuals or corporations that are listed on the Proliferation of
Weapons of Mass Destruction List.
Furthermore, the Indonesian Government also now requires financial service providers,
goods/service suppliers and other professionals to submit reports that address suspicious
financial transactions to the PPATK in line with the abovementioned prohibition on funding
and this requirement must be observed in relation to all individuals and corporations that
are listed on the Proliferation of Weapons of Mass Destruction List.

Circular of Director-General of Immigration No. IMI-0244-GR.01.01 of 2023 on Immigration
Policy for Visa Services, Visitor Stay Permits, Visas, Limited-Stay Permits and Free Visit Visas
During the Transition Period to COVID-19 Endemic Status
Enforcement Date: 21 August 2023
Summary:
The Director-General of Immigration has updated Indonesia’s immigration policy on Visa
Services, Visitor Stay Permits, Visas, Limited-Stay Permits and Free Visit Visas during the
transition period to COVID-19 endemic status.
In essence, this newly promulgated provision focuses on the expansion of the list of
countries whose citizens are eligible to enjoy Visa on Arrival (“VoA”) and electronic Visa on
Arrival (“e-VoA”) services. In this regard, VoA and e-VoA services will now be available to
citizens of the following additional countries: Armenia, Mozambique and Tanzania.
For more information see ILB No. 4711.

Circular of the Director-General of Immigration No. IMI-0268.GR.01.01 of 2023 on the
Implementation of Regulation of the Minister of Law and Human Rights No. 10 of 2023 on
Registrations and Applications for Immigration Facilities for Children with Dual Citizenship,
Applications for Immigration Certificates and the Return of Immigration Documents Due to
Changes in Citizenship Status
Enforcement Date: 24 August 2023
Summary
The Circular contains a set of guidelines for use by the Heads of Divisions of Regional
Immigration Offices under the Ministry of Law and Human Rights and by the Heads of
Immigration Offices. These guidelines specifically address registrations and applications for
immigration facilities for children with dual citizenship, applications for immigration
certificates and the return of immigration documents due to changes in citizenship status.
Information on the matters outlined above should be disseminated to the relevant
stakeholders and the general public, particularly any application processes.

Circular of the Director-General of Immigration No. IMI-GR.01.01-0252 on Affirmations of
Requirements for the Issuance of Passports and Immigration Examination Procedures at
Immigration Checkpoints
Enforcement Date: 28 August 2023
Summary
The Circular contains a set of guidelines for use by Heads of Immigration Divisions
(“Division Heads”) and Heads of Immigration Offices (“Office Heads”) in accordance with
their respective authorities. Division Heads should engage in periodic guidance, control and
supervision in relation to the issuance of Indonesian passports. Meanwhile, Office Heads
should issue Indonesian passports in accordance with relevant laws and regulations,
including: 1) Issuance of Indonesian passports for certain purposes such as: internships,
hajj/umrah pilgrimages and Indonesian migrant worker (pekerja migran Indonesia – “PMI”)
candidates, who do not require any recommendations from certain ministries/nonministerial agencies; 2) PMI may submit general passport applications through all
immigration offices located in Indonesia; 3) A 0% level of non-tax state revenue has been
set for PMI who are planning to work abroad for the first time.

Decree of the Minister of Law and Human Rights No. M.HH-01.GR.01.04 of 2023 on Visa
Classifications
Enforcement Date: 1 September 2023
Summary:
Stipulates classifications for the following types of visas: 1) Visit visas; and 2) Limited-stay
visas, as comprehensively listed under the Appendix to the Decree.
Visit visas encompass: 1) Two activity types for single-entry visas (i.e. art and culture, and
non-commercial sports); 2) Six activity types for multiple-entry visas (i.e. tourism, family,
ongoing travel to other countries, business, attending meetings, deliveries of goods).
Meanwhile, limited-stay visas encompass 15 types of activities, including: 1) Employees
working in special economic zones; 2) various types of foreign investment; 3) Education in
special economic zones; 4) Ex-Indonesian citizens; 5) Special expertise; and so forth.

Decree of the Director-General of Immigration IMI-0257.GR.01.01 of 2023 on Share
Ownership Amounts and Turnover/Sales Values for Companies Outside Indonesian Territory
for Individual Foreign Investors
Enforcement Date: 1 September 2023
Summary:
Share ownership amounts and turnover/sales values, as established under Decree, break
down as follows: 1) For individual foreign investors who will establish companies in
Indonesia while living in Indonesia for periods of five years: share ownership amounting to
at least 20% and turnover/sales values amounting to at least US$ 25 million; and 2) For
individual foreign investors who will establish companies in Indonesia while living in
Indonesia for periods of 10 years: share ownership amounting to at least 20% and
turnover/sales values amounting to at least US$ 50 million.
The Decree came into force on 1 September 2023 and any errors will be brought into line
with accepted practices.

Decree of the Director-General of Immigration No. IMI-0258.GR.01.01 of 2023 on the List of
International Public Accounting Firms
Enforcement Date: 1 September 2023
Summary:
In terms of the implementation of certain provisions originally addressed under Regulation
of the Minister of Law and Human Rights No. 22 of 2023 on Visas and Stay Permits, this
Decree stipulates a list of 20 international public accounting firms under the Appendix to
the Decree, specifically: 1) Deloitte Touche Tohmatsu Limited; 2) PricewaterhouseCoopers
(PwC); 3) Ernst & Young (EY); 4) KMPG Limited International; 5) Grant Thronton LLP; 6) BDO
International; 7) RSM Tenon; 8) Smith & Williamson; 9) Baker Tilly International; 10) Moore
Stephens; 11) Mazars; 12) Haines Watts; 13) Crowe Clark Whitehill; 14) Saffery Champness;
15) Begbies Traynor; 16) UHY Hacker Young; 17) Kingston Smith; 18) Zolfo Coope; 19) MHA
MacIntyre Hudson; and 20) Johnston Carmichael.

Decree of the Director-General of Immigration No. IMI-0260.GR.01.01 of 2023 on Stay Permit
Documents and Required Stay Permit Documents and Services
Enforcement Date: 1 September 2023
Summary:
There are seven types of Stay Permit Documents in total, as set out under the Appendix to
the Decree, specifically: 1) Virtual Visitor Stay Permit; 2) Limited-Stay Permit (i.e. electronic,
virtual/physical card, physical/virtual Golden Visa); 3) Permanent Stay Permit (i.e.
electronic, virtual/physical card, physical/virtual Golden Visa); 4) Virtual Exit Permit only; 5)
Virtual Stay Permit closure letter (surat pengakhiran); 6) Virtual Birth Certificate; 7) Virtual
Re-entry Permit.
Moreover, there are also three Required Stay Permit Documents in total, as set out under
the Appendix to the Decree, specifically: 1) Integration statement; 2) Commitment
statement (i.e. investors who are establishing/not establishing companies, boards of
directors or boards of commissioners members at companies that are establishing branch
offices, ex-Indonesian citizens [including one-year ex-Indonesian citizens], offspring of exIndonesian citizens, second home, special expertise, elders]; 3) Objection statement and
lack of willingness to be guaranteed by the previous guarantor.

Decree of the Director-General of Immigration No. IMI-0262.GR.01.01 of 2023 on Living Cost
Amounts in Indonesian Territory as a Requirement to Apply for Visit Visas and Limited-Stay
Visas
Enforcement Date: 1 September 2023
Summary:
This new decree states that living cost amounts that apply during stays within Indonesian
territory, which can be seen under the following Daily Updates: “Living Cost Amounts for
Visit Visa and Limited-Stay Visa Applications Stipulated.”
Joint-Decree of the Minister of Religious Affairs, Minister of Manpower and Minister of State
Apparatus Empowerment and Bureaucratic Reform No. 855, 3, 4 of 2023 on National Public
Holidays and Joint Leave for 2024
Enforcement Date: 12 September 2023
Summary:
Determines the dates of various national public holidays and joint leave for 2024. The
provisions set under the Joint Decree apply to employees and employers in both private
and government institutions, as well as to the general public.
The relevant dates of public holidays and joint leave for 2024 are summarized in the
following Daily Updates: “Govt. Sets National Public Holidays and Joint Leave for 2024.”

Banking
Regulation of Bank Indonesia No. 10 of 2023 on the Amendment to Regulation of Bank
Indonesia No. 4 of 2023 on Short-Term Liquidity Loans for Conventional Commercial Banks
Enforcement Date: 12 September 2023
Summary

Regulation 4/2023 originally featured five forms of high-level securities that were
permitted to be placed as collateral in relation to short-term liquidity loans (Pinjaman
Likuiditas Jangka Pendek – “PLJP”). Meanwhile, the Amendment has now incorporated
various additional forms of securities onto the list of said high-level securities, including: 1)
Bank Indonesia (“BI”) Rupiah Securities (Sekuritas Rupiah Bank Indonesia – “SRBI”); and 2)
Other forms of securities, as determined by BI. Moreover, the Amendment also permits
other high-level sharia securities that have been determined by BI to be classified as highlevel sharia securities that can be used in order to secure PLJP, as featured in the records of
the relevant Sharia Business Units (Unit Usaha Syariah /UUS).
In terms of the abovementioned SRBI, the Amendment states that this form of securities
should be calculated based on their selling value. Furthermore, the value of collateral that
takes the form of said SRBI should be set at 100% of the PLJP ceiling value, which should be
calculated based on the selling value mentioned previously.
It should also be noted that the Amendment stipulates that any securities that are issued
by any legal entity aside from those explicitly featured under the Amendment may only be
utilized in order to secure PLJP if the respective conventional commercial banks (Bank
Umum Konvensional /BUK) do not possess any BI-issued or government-issued securities in
adequate quantities to be placed as PLJP collateral.

Regulation of the Financial Services Authority No. 17 of 2023 on the Application of
Governance by Commercial Banks
Enforcement Date: 14 September 2023
Summary:
The Financial Services Authority (Otoritas Jasa Keuangan/OJK) has now introduced various
changes regarding the implementation of governance by commercial banks through the
issuance of Regulation of OJK No. 17 of 2023, which simultaneously repeals and replaces
Regulation No. 55/POJK.03/2016 of 2016, which addressed the same matters as the new
Regulation.
The various changes that have now been introduced encompass the following matters,
among others: procedures for replacement and dismissal of members of banks’ boards of
directors and boards of commissioners, committee classifications and memberships,
implementation of Governance, Risk, and Compliance (Tata Kelola, Manajemen Risiko, dan
Kepatuhan/GRC), applicable administrative sanctions and report submission mechanism.
Regulation of the Board of Governors of Bank Indonesia No. 10 of 2023 on the Sixth
Amendment to Regulation of the Board of Governors of Bank Indonesia No. 21/22/PADG/
2019 on the Macroprudential Intermediation Ratio and Macroprudential Liquidity Support
for Conventional Commercial Banks, Sharia Commercial Banks and Sharia Business Units
Enforcement Date: 15 September 2023
Summary:
Previously, Regulation of the Board of Governors of Bank Indonesia No. 21/22/PADG/2019
featured a total of five forms of securities that counted in terms of the fulfillment of the
PLM, specifically: 1) BI certificates (Sertifikat BI – “SBI”); 2) Sharia SBI (SBIS); 3) BI deposit
certificates (Sertifikat Deposito BI/SDBI); 4) BI sharia bonds (Sukuk BI/SukBI); and 5) State
securities (Surat Berharga Negara/SBN).
However, through the introduction of the Sixth Amendment, BI Rupiah Securities (Sekuritas
Rupiah Bank Indonesia – “SRBI”) have also been included in the above-listed securities and
now count in terms of the fulfillment of the PLM. Consequently, any provisions that relate
to securities and PLM fulfillment are also now applicable to SRBI.

Draft Regulation of the Financial Services Authority on Determinations of Supervisory Status
and the Handling of Commercial Bank Issues
Enforcement Date: –
Summary:
This Draft Regulation, which is currently being prepared by the Financial Services Authority
(Otoritas Jasa Keuangan – “OJK”) and which may thus be subject to further changes,
integrates five currently applicable OJK frameworks on the supervisory statuses
(“Supervisory Statuses”) of commercial banks (“Banks”) and the resolution of other issues
into a book format. At the time of writing, this forthcoming framework comprised 147
articles and seven books in total.
The Supervisory Statuses that apply under the Draft Regulation have now been adjusted
and are set to encompass the following classifications: 1) Normal; 2) In recovery (dalam
penyehatan); and 3) In resolution. In this regard, the forthcoming framework has also made
adjustments to various applicable criteria that relate to Banks that are classified under the
second and third tiers of the currently applicable Supervisory Statuses.
The Draft Regulation no longer differentiates between Supervisory Status follow-up
measures that apply to systemic Banks (i.e. Banks that may cause the failure of the majority
or the entirety of the banking or financial services sector as a result of their size or nature)
and non-systemic Banks. As such, the Draft Regulation states that follow-up measures
should only be based on Banks’ Supervisory Statuses.
The Draft Regulation has also now expanded the available forms of administrative
sanctions that may be imposed upon any Banks that fail to comply with mandated followup measures. In this regard, six specific types of sanctions will now be available. Overall,
these soon-to-be applicable administrative sanctions will range from written reprimands to
reductions of governance factors during Bank soundness level assessments.
For more information, see ILB No. 4718.

Draft Decree of the Financial Services Authority on the Application of Risk Management by
Sharia Conventional Banks and Sharia Business Units
Enforcement Date:
Summary
Risk-management standards for sharia conventional banks and sharia business units
(collectively referred to as “Banks”) should at least encompass the application of general
risk management, which includes: 1) Active supervision of boards of directors, boards of
commissioners and sharia supervisory boards; 2) Adequate risk-management policies and
procedures and the stipulation of risk limits; 3) Adequate risk-management systems in
terms of identification, measurement, monitoring, risk control and information systems;
and 4) Internal control systems.
During the implementation of effective risk management, Banks must engage in planning,
development and/or improvements and may also be required to implement the following
activities, amongst others: 1) Diagnose and analyze the relevant organization, policies,
procedures, limits and guidelines, as well as engage in system development in terms of the
application of risk management; 2) Draw up plans that address adjustments to the
guidelines for risk management application standards (if required); 3) Promote said
guidelines internally; and so forth. Banks must also submit risk-profile reports and other
required reports to the Financial Services Authority.

Draft Regulation of Financial Services Authority on Rural Banks and Sharia Rural Banks
Enforcement Date: –
Summary
The Draft Regulation contains various provisions that specifically address rural banks and
sharia rural banks. These provisions encompass a total of 168 articles spanning 14 chapters
and address the following areas, amongst others: 1) The establishment of rural banks and
sharia rural banks; 2) Ownership and capital changes; 3) Boards of directors, boards of
commissioners, sharia supervisory boards and executive officials; 4) Changes in the names
and forms of legal entities; 5) Mergers, consolidations and acquisitions; 6) Business
activities; 7) Revocations of business licenses, and so forth.
The following minimum amounts of paid-up capital have been set for the establishment of
rural banks: 1) Rp. 100 billion (for rural banks located in Zone 1); 2) Rp. 50 billion (for rural
banks located in Zone 2); and 3) Rp. 25 billion (for rural banks located in Zone 3.
Meanwhile, the following minimum amounts of paid-up capital have been set for the
establishment of sharia rural banks: 1) Rp. 75 billion (for sharia rural banks located in Zone
1); 2) Rp. 35 billion (for sharia rural banks located in Zone 2); 3) Rp. 15 billion (for sharia
rural banks located in Zone 3).
Various requirements have been set in terms of the establishment of both types of banks,
however, in essence, any such establishment should be implemented in line with the
following two stages: 1) Principal approval; and 2) Business licensing.

Capital Market
Regulation of the Financial Services Authority No. 15 of 2023 on the Organization of KnowYour-Services Administration Services
Enforcement Date: 8 February 2024
Summary:
The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has now introduced
Know-Your-Services Administration Services (Layanan Administrasi Prinsip Mengenali
Nasabah – “LAPMN”) in an effort to improve customer and/or enhanced due diligence
(collectively referred to as “Due Diligence”) practice in relation to the opening of securities
and investment accounts. The hope is that LAPMN systems will ultimately simplify the
account opening process through the centralized administration of customer data and
documents.
In order to streamline, protect and supervise customer data and documents, LAPMN
involves participation from authorized organizers (“Organizers”) and parties who engage in
Due Diligence activities (“Users”). During the implementation of the new service,
Organizers have various obligations that they must fulfill, which primarily revolve around
the management of LAPMN systems, including the following activities: 1) Must establish a
sustainable LAPMN system, along with the setting up and installation of data-center
facilities; 2) Must formulate a set of policies that specifically address the implementation of
LAPMN systems; and 3) Must report certain matters to the OJK and also notify Users of
certain matters.
Any party who wishes to utilize an LAPMN system should sign an LAPMN agreement and
will be required to comply with various matters relating to the submission of customer data
and documents to Organizers.
For more information, see ILB No. 4710.

Circular of the Financial Services Authority No. 12/SEOJK.04/2023 on the Procedure for the
Organization of Carbon Trading Through Carbon Exchanges
Summary:
In order to fulfill the mandate stipulated under a recent Regulation of the Financial Services
Authority (Otoritas Jasa Keuangan – “OJK”), the OJK has now followed up with a set of
technical and procedural provisions that are being aimed at supporting the organization of
carbon trading through carbon exchanges.
Generally speaking, the newly issued provisions address the following matters that
specifically relate to the organizers of carbon trading (“Organizers”): 1) Scope of carbon
units; 2) Capital requirements for carbon exchanges; 3) Requirements and fit-and-proper
testing for the shareholders, boards of director and boards of commissioners of Organizers;
4) Operational and internal control obligations that apply to Organizers; 5) Procedures for
the submission applications to secure Carbon Trading Business Licenses; 6) Regulations that
apply to Organizers and articles of associations of Organizers; 7) Carbon exchange
workplaces and budgets; and 8) Reporting obligations.

Circular of PT Kliring Penjaminan Efek Indonesia No. SE-010/DIR/KPEI/0923 of 2023 on Risk
Parameters
Enforcement Date: 5 September 2023
Summary:
The Circular mostly features similar provisions that address determinations of risk
parameters to those that featured under the Previous Circular, with certain key differences
relating to additions of Mutual Fund Participation Units.
Categorizes Mutual Fund Participation Units as offline collateral and assigns the following
collateral amounts for each type of Mutual Fund Participation Unit: 1) Stock Mutual Funds:
50%; 2) Currency Exchange Mutual Funds: 10%; 3) Fixed Income Mutual Funds: 15%; and 4)
Combination Mutual Funds: 50%.
Provides details of determinations of the maximum values for calculations of collateral for
Mutual Fund Participation Units, which should be considered based on the relevant net
asset values, the ages of Mutual Funds and any affiliation that exists between the relevant
clearing member and investment manager.

Decree of the Board of Directors of PT Kustodian Sentral Efek Indonesia No. KEP-0024/DIR/
KSEI/0923 on Guidelines for the Submission of Allocation Plans for Purchases and/or Sales of
Securities for Investment Product Purposes Through the Integrated Investment Management
System (S-INVEST).
Enforcement Date: 5 September 2023
Summary:
Establishes a set of guidelines for the submission of allocation plans for purchases and/or
sales of securities for investment product purposes through Integrated Investment
Management System (“S-INVEST”).
In particular, the Decree determines conditions, procedures and mechanisms relating to
the use of S-INVEST through a special S-INVEST Pre-Allocation Guide that will be published
periodically by KSEI.
This Decree came into effect on 5 September 2023 with the provision that changes can be
made and corrections and/or further provisions can be introduced as deemed appropriate
if certain aspects are declared to be not sufficiently regulated.

Decree of the Board of Directors of PT Kliring Penjaminan Efek Indonesia No. Kep-047/DIR/
KPEI/0923 on the Implementation of Mutual Fund Participation Units as Collateral under
Regulation of KPEI Number II-12 on the Placement of Collateral for Exchange Transactions for
Equity Securities, Investment Product Participation Units in the Form of Collective Investment
Contracts and Securities Lending
Enforcement Date: 5 September 2023
Summary:
The Board of Directors of PT Kliring Penjaminan Efek Indonesia (“KPEI”) originally
addressed the inclusion of mutual fund collective investment contracts on the list of
securities that are allowed to be placed as collateral (“Mutual Funds”) through the
issuance of Decree of the Board of Directors of KPEI No. Kep-043/DIR/KPEI/0823 (“Decree
43/2023”). As mandated under Decree 43/2023, the Board of Directors of KPEI has now
decided to clarify the implementation of Mutual Funds through the issuance of the Decree.
Confirms that the provisions that relate to Mutual Funds, as set out in Rule II-12 under the
Appendix to Decree 43/2023, have been declared valid. As a consequence, the provisions
on applicable securities for collateral, which were previously set out under Dictum IV to
Decree 43/2023, have now been revoked.

Decree of the PT Bursa Efek Indonesia No. KEP-00295/BEI/09-2023 on Regulations on the
Registration of Carbon Units with the Carbon Exchange Organizer
Enforcement Date: 20 September 2023
Summary:
At its core, the Rule (“Registration Rule”) states that the following types of Carbon Unit
(“Units”) are permitted to be registered and traded through the PBK: 1) Technical
Emissions Ceiling Approvals for Business Actors (Persetujuan Teknis Batas Atas Emisi Pelaku
Usaha – “PTBAE-PU”); and 2) Greenhouse Gas Emissions Reduction Certification (Sertifikat
Pengurangan Emisi Gas Rumah Kaca – “SPE-GRK”).
The above-described Units must first fulfill either of the following requirements prior to
being traded through the PBK: 1) Must have been registered with the National Registry
System for Climate Change Control (Sistem Registri Nasional Pengendalian Perubahan
Iklim – “SRN PPI”) or other Registration system organized by relevant governmental
ministries that are connected to the SRN PPI; or 2) Must have been registered, validated
and verified by an agency that has been accredited by an international Registration
organizer that fulfills the requirements for overseas carbon trading, as well as other
requirements determined by the OJK for Units that are not registered at the SRN PPI.
As the above-described Units are registered on an application basis, the Registration Rule
states that Registration applications may be submitted by the following parties: 1) Carbon
exchange service users (“Users”); 2) Candidate Users that are in the process of registering
with the PBK; or 3) Relevant governmental ministries.
Broadly speaking, Registrations themselves are completed in several phases, which include:
1) For PTBAE-PU: pre-registration, registration and PTBAE-PU reduction; and 2) For SPEGRK: initial registration, additional registration, SPE-GRK reduction and retirement of SPEGRK.

Circular of the PT Bursa Efek Indonesia Board of Directors No. SE-00013/BEI/09-2023 on
Carbon Exchange Services User Fees
Enforcement Date: 20 September 2023
Summary:
Following the issuance of several PT Bursa Efek Indonesia (“BEI”) frameworks that
specifically address carbon unit (“Units”) trading (“Carbon Trading”) through the Carbon
Exchange Organizer (Penyelenggara Bursa Karbon – “PBK”), the Board of Directors of BEI
has decided to set the applicable fees that carbon exchange (“Exchange”) service users
(“Users”) will be required to pay through the issuance of the Decree.
While registrations of Units will be completed free of charge, the Decree states that
transactions that involve Units (“Transactions”) will be charged to both selling and
purchasing Users at various rates, dependent on the relevant PBK market segment.
However, said Transaction fees will be charged at the following reduced rates until 31
October 2023: 1) Regular Market and Negotiation Market: 0.05% of the Transaction value
(originally 0.11%); and 2) Auction Market and Non-Regular Market: 0.11% of the
Transaction value (originally 0.22%).
In addition to the above-listed fees, the Decree also addresses other forms of fees that will
be charged to Users that engage in certain activities, including: 1) Withdrawals of funds
from Users’ accounts: to be charged at a rate of Rp. 25,000 per withdrawal; and/or 2)
Additional training (if the User in question requests additional training beyond the
schedule that has been determined by the PBK): to be charged at a rate of Rp. 1 million per
participant.

Circular of the PT Bursa Efek Indonesia Board of Directors No. SE-00014/BEI/09-2023 on the
Standardization of Carbon Unit Groupings
Enforcement Date: 20 September 2023
Summary:
Following the issuance of the new Carbon Trading Regulation as the Appendix to Decree of
the Board of Directors of PT Bursa Efek Indonesia (“BEI”) No. KEP-00296/BEI/09-2023
(“Decree 296/2023”), the Board of Directors of BEI has now subsequently introduced
groups of carbon unit (“Units”) that takes the form of Greenhouse Gas Emissions
Reduction Certification (Sertifikat Pengurangan Emisi Gas Rumah Kaca – “SPE-GRK”)
through the issuance of the Circular.
The Circular features a total of four Unit groups (“Groups”), specifically: 1) Indonesia
Nature Based Solution (IDNBS); 2) Indonesia Nature Based Solution International Standard
(IDNBSI); 3) Indonesia Technology Based Solution (IDTBS); and 4) Indonesia Technology
Based Solution International Standard (IDTBSI).
It should be noted that the Groups that are listed in points (1) and (2) above include SPEGRK that fall under Nature-Based Solution (NBS) greenhouse-gas emissions mitigation and
reduction projects (“Projects”), while the Groups that are listed in points (3) and (4) above
include SPE-GRK that fall under Technology-Based Solution (TBS) Projects.
Ultimately, the Circular states that the following aspects apply universally to all of the
above-listed Groups: 1) Projects must be located in Indonesia; 2) The rupiah currency must
be utilized; 3) The recognized Unit registries include the National Registry System for
Climate Change Control (Sistem Registri Nasional Pengendalian Perubahan Iklim/SRN PPI)
established by the Ministry of Environment and Forestry; and 3) The period for verified
greenhouse-gas emissions reduction has been set at 2013 – 2023.

Decree of PT Bursa Efek Indonesia Board of Directors No. KEP-00296/BEI/09-2023 on the
Regulation of Carbon Unit Trading Through the Carbon Exchange Organizer
Enforcement Date: 20 September 2023
Summary:
Carbon units (“Units”) that are permitted to be traded via the carbon exchange organizer
(Penyelenggara Bursa Karbon – “PBK”) encompass the following: 1) Technical Emissions
Ceiling Approvals for Business Actors (Persetujuan Teknis Batas Atas Emisi Pelaku Usaha/
PTBAE-PU); and 2) Greenhouse Gas Emissions Reduction Certification (Sertifikat
Pengurangan Emisi Gas Rumah Kaca/SPE-GRK).
Trading of Units (“Carbon Trading”) may only be carried out between carbon exchange
(“Exchange”) service users (“Users”) in compliance with relevant frameworks and
guidelines that have been established by PBK. In this regard, said Users include: 1)
Emissions trading business actors (pelaku usaha pedagang emisi); 2) Non-emissions trading
business actors (pelaku usaha non-pedagang emisi); and/or 3) Project developers or other
Users appointed by project developers.
The Carbon Trading Regulation classifies PBK markets into four segments, specifically: 1)
Auction market; 2) Negotiation market; 3) Regular market; and 4) Non-regular market. In
terms of the PBK negotiation market, as listed in point (2) above, the Exchange will
automatically reject any submitted offer and/or purchase request under the following
conditions: 1) The prices of Unit transactions through PBK (“Transactions”) are lower than
the determined minimum Unit price; 2) The Transaction price submitted to the Exchange is
20% or more either higher or lower than the reference price; or 3) The quantity or volume
of a submitted purchase request exceeds the Units that are being offered.
For more information, see ILB No. 4720.

Decree of the PT Bursa Efek Indonesia Board of Directors No. KEP-00297/BEI/09-2023
(“Decree 297/2023”) on the Regulation of Carbon Exchange Users
Enforcement Date: 20 September 2023
Summary:
Carbon Exchange Users (“Exchange Users”) may take the form of Indonesian/foreign legal
entities and will be required to fulfill various general and specific requirements. The
general requirements include the following, amongst others: 1) Must employ a person in
charge who will take responsibility for the use of any facilities provided by the Carbon
Trading Organizer (“Organizer”); 2) Must attend training sessions that specifically address
the carbon exchange, as organized by the Organizer; 3) Must pay the relevant Exchange
User registration fees.
Before becoming Exchange Users, applicants must first submit their applications to the
Organizer using the format set out under the Appendix to this Decree along with certain
required documents. Once such an application has been submitted, the Organizer will
complete a review of the submitted documents and decide whether the applicant should
be issued with an Exchange User approval letter or not. This decision will be made within
five Organizer days.
Exchange Users must comply with various obligations, otherwise, they may be subject to
the imposition of sanctions by the Organizer. These obligations include: 1) Must maintain
the confidentiality of their given user-id and password and are prohibited from transferring
them to any other parties; 2) Must comply with provisions, requirements and procedures
that relate to the use of any facilities that are provided by the Organizer; 3) Must submit
incidental reports within a maximum of seven Organizer days of any changes being made
to certain types of information (e.g. business licensing, names of Exchange Users,
information relating to Exchange Users, company deeds, etc.)

Decree of the Board of Directors of PT Bursa Efek Indonesia No. KEP-00298/BEI/09-2023 on
the Regulation and Supervision of Carbon Unit Trading
Enforcement Date: 20 September 2023
Summary:
The organizers of the carbon exchange (“Organizers”) are required to supervise carbon unit
trading, as registered through the Organizers. During trading activities that are completed
through carbon exchange, carbon-exchange service users (“Users”) are prohibited from
engaging in six types of activities, including the following: 1) Submitting messages or
performing transactions that relate to elaborations of activities and/or movements of
carbon-unit prices; 2) Engaging in any trade that may potentially result in market
manipulation; 3) Becoming directly/indirectly involved with or cooperating with other
parties during the performance of transactions that may be categorized as scamming,
manipulative and/or utilization of insider information.
In order to supervise trading activities, Organizers are required to monitor each carbon unit
in relation to the following areas at the least: 1) Price and volume fluctuations; 2)
Frequency; 3) Orders; 4) Transactions; 5) Transaction patterns; and/or 6) Other relevant
information.
In the event that indications of violations emerge (specifically in relation to the abovedescribed prohibitions), Organizers may implement various measures, including: 1)
Requesting clarifications from Users; 2) Imposing temporary suspensions on carbon-unit
trading and/or imposing a temporary prohibition on the relevant Users engaging in trading
activities through the Organizers; 3) Performing relevant examinations; 4) Sending reports
to the Financial Services Authority.

Draft Regulation of the Financial Services Authority on the Issuance and Reporting of
Regional Bonds and/or Sukuk
Enforcement Date: –
Summary
The Financial Services Authority (Otoritas Jasa Keuangan/OJK) is currently preparing a
Draft Regulation which will set out various provisions that specifically address the issuance
and reporting of regional bonds and/or sukuk (“Regional Bonds/Sukuk”). This new
framework will contain a total of 76 articles spanning 16 chapters and will address the
following areas, amongst others: 1) Registration statement documents; 2) The gradual
implementation of public offerings; 3) Forms of prospectuses; 4) Contents of prospectuses;
5) Forms of concise prospectuses.
The Draft Regulation will apply to issuers that submit registration statements in relation to
public offerings of Regional Bonds/Sukuk, which are to be performed gradually and which
may be implemented in line with certain periods, as stipulated through Regulations of
Regional Heads.
In terms of the above-mentioned registration statements, issuers must submit documents
that address the following matters at the least: 1) Registration statement cover letter; 2)
Prospectus and concise prospectus; 3) Preliminary prospectus (if available); and 4) Other
relevant documents. Said prospectuses should be prepared in accordance with provisions
that are set out under the Draft Regulation.
Employment

Regulation of the Minister of Law and Human Rights No. 22 of 2023 on Visas and Stay
Permits
Enforcement Date: 24 August 2023
Summary:
Golden Visas are a group of visas that comprises the Limited-Stay Visa, Limited-Stay Permit,
Permanent Stay Permit and Re-Entry Permit with certain validity periods (collectively
referred to as “Golden Visas”) and which will be issued to foreign nationals who engage in
capital investment, family regroupings and repatriations or who have second homes in
Indonesia. Golden Visas will be issued for maximum periods of five or ten years.
Holders of Golden Visas will be exempt from the obligation to have guarantors for their
stays in Indonesia. In return, said holders will be obliged to comply with various
commitments as a form of immigration guarantee. The forms of this commitment and the
figures that apply in relation to immigration guarantees vary, depending on the purposes
and lengths of visits and/or stays in Indonesia.

Circular of the Director-General of Immigration No. IMI-0244.GR.01.01 of 2023 on
Immigration Policy on Visit Visas and Stay Permits, Limited Visa and Stay Permit Services, and
Free Visit Visas During the Transition Period for Corona Virus Disease 2019 (COVID-19) to
Endemic Status
Enforcement Date: 21 August 2023
Summary:
In general, the Circular sets out guidelines for use by all immigration officials regarding the
implementation of immigration policies on visa services, visitor-stay permits, limited-stay
permits and the Visa on Arrival (“VoA”). Of particular importance in this regard is the
expansion of the list of countries, special government administrative regions of countries
and certain entities that are subject to the issuance of VoA and electronic VoA (“e-VoA”).
The Circular now allows citizens of 96 countries, special government administrative regions
of countries and certain entities to enjoy VoA or e-VoA services upon their arrival in
Indonesia.
Furthermore, the Circular also features a list of official immigration checkpoints through
which the abovementioned foreign citizens may secure their VoA. This list of immigration
checkpoints is comprehensively set out under the Appendix to the Circular and
encompasses the following locations: 1) Immigration checkpoints for the COVID-19
Endemic Transition Period; 2) VOA Immigration checkpoints; 3) VOA and e-VOA
immigration checkpoints; and 4) Other non-checkpoint immigration locations (e.g. airports,
seaports, border-crossing posts, etc.).

Energy
Regulation of the Minister of Energy and Mineral Resources No. 10 of 2023 on Procedures for
the Drafting, Submission and Approval of Work Plans and Funding Budgets, and Procedures
for Reporting on the Implementation of Mineral and Coal Mining Business Activities
Enforcement Date: 11 September 2023
Summary
It should be noted that the enforcement of Regulation 10/2023 simultaneously repealed
and replaced the previous framework that set out provisions on coal and mineral mining
business activities (“Mining Activities”), i.e. Regulation of the Minister of Energy and
Mineral Resources (“Minister”) No. 7 of 2020 on Procedures for the Granting of Areas,
Licensing and Reporting in Relation to Mineral and Coal-Mining Business Activities, as
amended by Regulation of the Minister No. 16 of 2021 (collectively referred to as
“Regulation 7/2020”). However, it should also be noted that Regulation 10/2023 no longer
features any provisions on the granting of mining business license areas (Wilayah Izin
Usaha Pertambangan /WIUP) and mining business licenses (Izin Usaha Pertambangan –
“IUP”), as originally addressed under Regulation 7/2020.
In essence, Regulation 10/2023 maintains the obligations that were originally set out under
Regulation 7/2020 and that apply to various IUP and special IUP (IUP Khusus – “IUPK”)
holders in relation to the work plan and funding budget (Rencana Kerja dan Anggaran
Biaya – “ RKAB”), including: 1) Must draft and submit RKAB (that address either the
exploration or production operation phase) to the Minister or relevant governors in line
with their jurisdictions (collectively referred to as “Authorized Officials”) for their approval;
and 2) Must submit written reports on the implementation of the RKAB outlined in point
(1) to Authorized Officials.
However, Regulation 10/2023 now explicitly states that the above-mentioned RKAB and
related reports should be submitted electronically (in softcopy form) and/or through
relevant information systems. In this regard, Regulation 10/2023 details the applicable
procedures for the implementation of RKAB, which include the following activities: 1)
Drafting of RKAB; 2) Submission of RKAB; 3) Evaluation and approval of RKAB; 4)
Implementation of RKAB; and 5) Amendment of RKAB.

In addition to the above-mentioned matters, Regulation 10/2023 also retains the obligation
for various IUP and IUPK holders to draft and submit the following reports, as originally
introduced under Regulation 7/2020: 1) Periodic reports (i.e. monthly and/or quarterly
reports); 2) Final reports; and/or 3) Special reports. However, Regulation 10/2023 has
expanded the scope of reporting parties, which now include holders of the following types
of mining permits: 1) Community Mining Licenses (Izin Pertambangan Rakyat/IPR); 2) Rock
Mining Licenses (Surat Izin Penambangan Batuan/SIPB); and 3) Mining Service Business
Licenses (Izin Usaha Jasa Pertambangan/IUJP).

Regulation of the Minister of Finance No. 94 of 2023 on the Amendment to Regulation of the
Minister of Finance No. 34/PMK.03/2018 on Guidelines for the Implementation of Joint
Examinations of the Implementation of Production Sharing Contracts with Returns of
Operational Costs Within the Upstream Oil-and-Gas Business Sector
Enforcement Date: 18 September 2023
Summary
Various changes have now been introduced under the Amendment, including the addition
of the following provisions: 1) Contractors must report their income taxes including
calculations of oil-and-gas income tax (pajak penghasilan – “PPh”) in their PPh Annual Tax
Returns (Surat Pemberitahuan Pajak – “SPT”); 2) The amounts of PPh for oil and gas in said
SPT should be in accordance with the amounts of PPh featuring Final Quarterly Reports
(“FQR”) for quarter IV, final FQR for the last financial year (tahun buku) or FQR final
settlement rights and obligations; 3) If any deficiencies (kekurangan) in payable PPh
payments feature in said SPT, then contractors must settle said deficiencies before the
submission of the relevant SPT; 4) If a PPh submission exceeds the payable PPh in the final
FQR for quarter IV, then this should be followed up with the refunding of the relevant
excess tax payment (pengembalian kelebihan pembayaran pajak); 5) The implementation
of joint examinations for the closure of cooperation contracts should comprise: a) A joint
examination for the current year; and b) A joint examination for the period after the
current year.

Decree of the Minister of Energy and Mineral Resources No. 297.K/MB.01/MEM.B/2023 on
Processing Procedures for the Issuance and Registration of Mining Business Licences
Enforcement Date: 15 September 2023
Summary
Holders of Mining Business Licenses for Metal Minerals or Coal (Izin Usaha Pertambangan
Mineral Logam atau Batubara– “IUP Metal Minerals/Coal”) that fall into certain categories
may submit applications for their revocation and cancellation (“Cancellation”) or for the
issuance of IUP Metal Minerals/Coal (“Issuance of IUP”) to the Minister of Energy and
Mineral Resources (“Minister”), through the Director-General of Mineral and Coal.
In terms of the above-listed criteria, a legally binding Decision of the Administrative Court
should be handed down if holders (business entities) of IUP Metal Minerals/Coal have their
licenses revoked, if applications for stage escalations (peningkatan tahap) are rejected or if
extension applications are rejected.
Various requirements must be fulfilled in order to complete the Cancellation and Issuance
of IUP, specifically: 1) The IUP must fulfill certain criteria (i.e. must have been registered or
must have previously been registered on the list of IUP results for arrangements of IUP and
special mining business licenses [Izin Usaha Pertambangan Khusus/IUPK that have fulfilled
the provisions on the IUP database under the Directorate-General of Mineral and Coal]; or
must have been issued by the Minister); 2) Decision commands (amar putusan) must
feature the following elements: must state a lawful or unlawful Decision of the
Administrative Court, and/or order to cancel/revoke or issue a license; and 3) Must have
fulfilled various administrative requirements and regional criteria and requirements.

Decree of the Minister of Energy and Mineral Resources No. 324.K/MG.03/DJM/2023 on the
Indonesian Crude Oil Price for August 2023
Enforcement Date: 1 September 2023
Summary:
As detailed under the Appendix to the Decree, prices have now been divided into Main
Raw Oil and Other Raw Oil categories. Meanwhile, the average price of Indonesian Raw Oil
has been set at US$ 82.59/barrel. In total, six types of main raw oils, 50 types of permanent
other raw oils and 41 types of temporary other raw oils have now been set (along with
their various formulas and prices).

Decree of the Minister of Energy and Mineral Resources No. 290.K/MB.01/MEM.B/2023 on
Reference Prices for Metal Minerals and Reference Prices for Coal for the September 2023
Period
Enforcement Date: 14 September 2023
Summary:
As detailed under Appendix I to the Decree 290/2023, the applicable Reference Prices for
Metal Minerals (Harga Mineral Logam Acuan – “HMA”) should be utilized as a reference
during calculations of applicable Metal Mineral Benchmark Prices (Harga Patokan Mineral
Logam/HPM) for September 2023. In this regard, the HMA apply to 20 types of metal
mineral commodities, including: 1) Nickel (US$ 20,827.73/DMT); 2) Cobalt (US$ 32,980.45/
DMT); 3) Lead (US$ 2,132.09/DMT); 4) Zinc (US$ 2,429.05/DMT); and 5) Aluminum (US$
2,151.57/DMT).
Meanwhile, the applicable Reference Prices for Coal (Harga Batubara Acuan – “HBA”) are
comprehensively detailed under Appendix II to Decree 290/2023. Said reference prices
should be utilized as a reference during calculations of applicable coal benchmark prices
(Harga Patokan Batubara/HPB) for September 2023. The applicable HBA for the above mentioned coal commodities break down as follows: 1) Coal (with 6,322 Gross as Received
[“GAR”]): US$ 133.13/ton; 2) Coal I (with 5,300 GAR): US$ 89.11/ton; 3) Coal II (with 4,100
GAR): US$ 53.83/ton; and 4) Coal III (with 3,400 GAR): US$ 31.82/ton.

Decree of the Minister of Energy and Mineral Resources No. 296.K/MB.01/MEM.B/2023 on
the Stipulation of Mineral Commodities That Are Classified as Critical Minerals
Enforcement Date: September 2023
Summary:
A total of 47 forms of minerals that relate to relevant mining commodities (e.g. aluminum,
antimony, barium and so forth) are comprehensively listed under the Appendix to the
Decree. Meanwhile, minerals that fulfill the following criteria may be classified as Critical
Minerals: 1) Minerals that will be utilized by nationally strategic industries; 2) Minerals that
are considered valuable in relation to the national economy and state security; 3) Minerals
that are characterized by a high risk of supply issues; and 4) Minerals for which no
equivalent substitutes are available.
The above-described determinations of Critical Minerals should serve as a reference for use
by relevant government ministries, agencies and regional governments in line with their
various jurisdictions during the establishment of policies and legal frameworks that address
the utilization of relevant Critical Minerals. Moreover, the said determinations will apply for
three years and may be reviewed at any time, as deemed necessary.

Circular of the Director of Technical and Environmental/ Head of the Mining Inspectorate No.
13.E/MB.07/DBT.KP/2023 on the Application of Decree of the Director-General of Mineral
and Coal No. 10.k/mb.01/djb.t/2023 on Technical Guidelines for Assessments of Mining
Safety Performance Achievements
Enforcement Date: 15 August 2023
Summary:
Through the issuance of Decree of the Director-General of Mineral and Coal No. 10.k/mb.
01/djb.t/2023 on Technical Guidelines for Assessments of Mining Safety Performance
Achievements (“Decree 10/2023”), all mineral and coal mining (“Mining”) company heads
and Mining services are now required to: 1) Apply Decree 10/2023; 2) Promote and
internalize Decree 10/2023, as accessible through the following official link: https://
www.youtube.com/watch?v=SqBWcToVzXs; 3) Incorporate assessment results on
performance achievements as one of the applicable bases during the preparation of
working mining safety programs for 2024 and forthcoming years.

Decree of the Minister of Energy and Mineral Resources No. 258.K/MB.01/MEM.B/2023 on
Guidelines for the Granting of Mining Business License Areas and Special Mining Business
License Areas for Metal Minerals and Coal
Enforcement Date:
Summary:
In a bid to increase investment within the mineral and coal mining sector, the Minister of
Energy and Mineral Resources (“Minister”) has now adjusted the guidelines for the
designation of Mining Business License Areas (Wilayah Izin Usaha Pertambangan –
“WIUP”) and Special Mining Business License Areas (Wilayah Izin Usaha Pertambangan
Khusus – “WIUPK”) for metal mineral and coal mining activities.
While these adjustments have been made to the overall process involved in the securing of
WIUPK through the priority list, as well as the process involved in the securing of WIUP and
WIUPK through auctions, it should be highlighted that WIUP and WIUPK under the new
procedure may only be secured by business actors who do not already possess any of the
following types of mining business licenses: Mining Business Licenses (Izin Usaha
Pertambangan – “ IUP”), Special IUP (IUP Khusus – “ IUPK”), IUPK as a continuation of
operation contracts/agreements, Community Mining Licenses (Izin Pertambangan Rakyat/
IPR), Rock Mining Licenses (Surat Izin Penambangan Batuan/SIPB), Mining Service Business
Licenses (Izin Usaha Jasa Pertambangan/IUJP), Transportation and Sales Licenses,
Contracts of Work (Kontrak Karya/KK) or Coal Contracts of Work (Perjanjian Karya
Pengusahaan Pertambangan Batubara/PKP2B).
For more information, see ILB No. 4712.

Environment
Regulation of the Minister of Environment and Forestry No. 9 of 2023 on Business Licensing
and Government Approvals Within the Hazardous and Toxic Waste Management Sector
Enforcement Date: 24 August 2023
Summary:
The Minister of Environment and Forestry (“Minister”) has introduced a new set of
procedures for the issuance of business licenses to business actors who engage in business
activities relating to the management of hazardous and toxic waste, specifically activities
that fall under numbers 38120 and 38820 in the Standard Classification of Indonesian
Business Fields (Klasifikasi Baku Lapangan Usaha Indonesia/KBLI).
Business licenses are issued by relevant ministers, governors or regents/mayors
(collectively referred to as “Relevant Authorities”) to business actors that submit
applications and proofs of the fulfillment of various administrative and technical
requirements via the Online Single Submission (OSS) system.
The overall procedure that has to be followed in order to secure a business license breaks
down as follows: 1) Examination of administrative and technical requirements; 2)
Verification of the relevant documents; 3) Issuance of rejection/approval.
For more information see ILB No. 4709.

Circular of the Minister of Environment and Forestry No. SE.8/MENLHK/SETJEN/KUM.
1/8/2023 on Funding Cost Standards for Assessments of Environmental Impact Analyses and
Form Checking for Environmental Management Efforts and Environmental Monitoring Efforts
Enforcement Date: 28 August 2023
Summary:
States that funding for Assessments of Environmental Impact Analyses (Analisis Mengenai
Dampak Lingkungan Hidup – “ AMDAL”) and Form Checking for Environmental
Management Efforts and Environmental Monitoring Efforts (Upaya Pengelolaan
Lingkungan dan Upaya Pemantauan Lingkungan – “UKL-UPL”)assessment activities will be
sourced from the State Budget (Anggaran Pendapatan Belanja Negara – “APBN”) or
Regional Budget (Anggaran Pendapatan Belanja Daerah – “APBD”) and will cover the
following activities: 1) Administrative matters; 2) Validity checking of AMDAL by the
secretariat and technical team and of UKL-UPL by the environmental agency; 3)
Announcements of Environmental Permit applications; 4) Announcements of
Environmental Permit issuance; 5) Administrative costs relating to the issuance of
feasibility and non-feasibility stipulations and the issuance of Environmental Permits; and
6) Administrative costs relating to the issuance of UKL-UPL and Environmental Permits.
AMDAL and UKL-UPL-related costs that will be borne by initiators include: 1) Honorariums
relating to AMDAL assessments and UKL-UPL reviews; 2) Copies of documents required
during the coordination stage for AMDAL assessments and UKL-UPL reviews; and 3) Costs
associated with coordination meetings for AMDAL assessments and UKL-UPL reviews.

Decree of the Minister of Environment and Forestry No. SK.815/MENLHK/SETJEN/KUM.
1/7/2023 of 2023 on the Acceleration of the Completion of Palm-Oil Plantation Business
Activities Established in Forest Areas Without Forestry Sector Permits in Line with the
Implementation of the Job-Creation Law Within the Environment and Forestry Sector
Enforcement Date: 26 July 2023
Summary
Stipulates a set of working procedures aimed at accelerating the completion of palm-oil
plantation business activities within forest areas that are being implemented without the
required forestry permits, as comprehensively elaborated upon under the Appendices to
the Decree.
The Decree covers nine specific matters, including the following: 1) Stipulation of data and
information on business activities within forest areas that were not covered by business
licenses prior to the promulgation of the Job-Creation Law; 2) Division of legal subjects; 3)
Technical guidelines for administrative/technical/field verifications, interpretations of
satellite data, calculations of administrative fines and the obligation to recover forest
ecosystems; 4) Procedures for the filing of objections; 5) Guidelines for the granting of legal
access; and so forth.

Land and Property
Regulation of the Governor of DKI Jakarta No. 23 of 2023 on the Exemptions to the Land and
Building Rights Acquisition Fee for First-Time Rights Acquisitions with Tax Object Acquisition
Values of up to Certain Values
Enforcement Date: 28 August 2023
Summary:
This new regulation states that exemptions to the mandatory Land and Building Rights
Acquisition Fee (Bea Perolehan Hak atas Tanah dan Bangunan – “ BPHTB”) are now
available for landed houses with Tax Object Acquisition Values (Nilai Perolehan Objek Pajak
– “NPOP”) of up to Rp. 2 billion.
Applicants for this exemption should be individual taxpayers. Moreover, this new regulation
states that if objects of BPHTB exemptions are obtained by more than one rights recipient
simultaneously, then the relevant BPHTB exemption can still be granted in line with the
following provisions: 1) One recipient and/or applicant at the least must have fulfilled the
requirements for objects; 2) Applicants must include the identities of all rights recipients
with all BPHTB exemption applications; and 3) Rights recipients who have been granted
BPHTB exemptions will not be able to enjoy any individual BPHTB exemptions for any
following rights acquisitions.
Submissions of applications for BPHTB exemptions should comply with various
requirements that can be accessed electronically through the following official website:
ebphtb.jakarta.go.id.
For more information, see ILB No. 4715.

Manufacturing and Industry
Regulation of Minister of Industry No. 14 of 2023 on the Application of the Indonesian
National Qualification Framework Within the Synthetic Fiber Melt Spinning Industrial Sector
Enforcement Date: 21 August 2023
Summary
Stipulates the Indonesian National Qualification Framework (Kerangka Kualifikasi Nasional
Indonesia – “KKNI”) for the synthetic fiber melt spinning industrial sector, which may be
used as a set of guidelines for the following purposes: 1) Educational programs during the
implementation of competence education and training; 2) Competence certification; 3)
Development of human resources; and 4) Recognition of work competence.
The KKNI qualification levels encompass seven levels from two to eight, as
comprehensively elaborated upon under the Appendix to the Regulation.

Regulation of Minister of Industry No. 15 of 2023 on Application of the Indonesian National
Qualification Framework Within the Viscose Rayon Staple Fiber Industrial Sector
Enforcement Date: 21 August 2023
Summary:
Stipulates the Indonesian National Qualification Framework (Kerangka Kualifikasi Nasional
Indonesia – “KKNI”) for the viscose rayon staple fiber industrial sector, which may be used
as a set of guidelines for the following purposes: 1) Educational programs during the
implementation of competence education and training; 2) Competence certification; 3)
Development of human resources; and 4) Recognition of work competence.
The KKNI qualification levels encompass seven levels from two to eight, as
comprehensively elaborated upon under the Appendix to the Regulation.

Regulation of Minister of Industry No. 16 of 2023 on the Application of the Indonesian
National Qualification Framework Within the Instant Noodle Production Area Industrial
Sector
Enforcement Date: 24 August 2023
Summary:
Stipulates the Indonesian National Qualification Framework (Kerangka Kualifikasi Nasional
Indonesia – “KKNI”) for the instant noodle production area industrial sector, which may be
used as a set of guidelines for the following purposes: 1) Educational programs during the
implementation of competence education and training; 2) Competence certification; 3)
Development of human resources; and 4) Recognition of work competence.
The KKNI qualification levels encompass five levels from two to six, as comprehensively
elaborated upon under the Appendix to the Regulation.

Regulation of the Minister of Industry No. 17 of 2023 on the Application of the Indonesian
National Qualification Framework Within the Metal Machinery Industrial Sector
Enforcement Date: 21 August 2023
Summary:
Stipulates the Indonesian National Qualification Framework (Kerangka Kualifikasi Nasional
Indonesia – “KKNI”) for the metal machinery industrial sector, which may be used as a set
of guidelines for the following purposes: 1) Educational programs during the
implementation of competence education and training; 2) Competence certification; 3)
Development of human resources; and 4) Recognition of work competence.
The KKNI qualification levels encompass five levels from two to six, as comprehensively
elaborated upon under the Appendix to the Regulation.

Regulation of Minister of Industry No. 18 of 2023 on the Application of the Indonesian
National Qualification Framework Within the Knitting Industrial Sector
Enforcement Date: 24 August 2023
Summary:
Stipulates the Indonesian National Qualification Framework (Kerangka Kualifikasi Nasional
Indonesia – “KKNI”) for the knitting industrial sector, which may be used as a set of
guidelines for the following purposes: 1) Educational programs during the implementation
of competence education and training; 2) Competence certification; 3) Development of
human resources; and 4) Recognition of work competence.
The KKNI qualification levels encompass seven levels from two to eight, as
comprehensively elaborated upon under the Appendix to the Regulation.

Regulation of Minister of Industry No. 19 of 2023 on the Revocation of Regulation of the
Minister of Industry on the Designation of Conformity Assessment Institutions for the
Implementation and Supervision of the Indonesian National Standard
Enforcement Date: 24 August 2023
Summary:
A total of 52 Regulations of the Minister of Industry (“Regulations”) that specifically relate
to the designation of conformity assessment institutions to the implementation and
supervision of the Indonesian National Standard (Standar Nasional Indonesia – “ SNI”)
(collectively referred to as “Designation of SNI Implementation and Supervision
Institutions”), have now been officially revoked.
Said Regulations include the following, among others: 1) Regulation No. 73/ M-IND/ PER/
7/2011 on the Compulsory Designation of SNI Implementation and Supervision Institutions
for Steel Wire Ropes and Steel Wire Ropes for Oil and Gas; 2) Regulation No. 104/ M-IND/
PER/ 10/ 2012 on the Designation of SNI Implementation and Supervision Institutions for
the Compulsory Wearing of Helmets by Riders of Two-Wheeled Motorized Vehicles;

Regulation No. 12/ M-IND/ PER/ 2/ 2013 on the Compulsory Designation of SNI
Implementation and Supervision Institutions for Refined Crystal Sugar; 4) Regulation No.
26/ M-IND/ PER/ 4/ 2014 on the Compulsory Designation of SNI Implementation and
Supervision Institutions for Rubber Seals on LPG Cylinders Valves; 5) Regulation No. 65/ MIND/ PER/8/ 2015 on the Compulsory Designation of SNI Implementation and Supervision
Institutions for Building and Glass Block Specifications and Testing Methods; and so forth.

Regulation of Minister of Industry No. 20 of 2023 on the Revocation of Regulation of the
Minister of Industry No. 57/M-IND/PER/7/2006 on the Designation of Surveyors as the
Executors of Verifications of Achieved Domestic Component Levels (TKDN) of Domestically
Produced Goods/Services
Enforcement Date: 25 August 2023
Summary:
Through the issuance of this Regulation, Regulation of the Minister of Industry No. 57/MIND/PER/7/2006 on the Designation of Surveyors as the Executors of Verifications of
Achieved Domestic Component Levels (TKDN) of Domestically Produced Goods/Services
(“Regulation 57/2016”) has now been revoked.
As a result, all designations originally stipulated under Regulation 57/2016 have now been
declared invalid and can no longer be used.

Regulation of the Minister of Industry No. 21 of 2023 on the Amendment to Regulation of
the Minister of Industry No. 6 of 2023 on Guidelines for Government Assistance for
Purchases of Two-Wheeled, Battery-Powered Electric Vehicles
Enforcement Date: 28 August 2023
Summary:
Amongst the various changes that have been introduced under the Amendment,
government assistance for purchases of the vehicles in question is now available to all
Indonesian citizens who are at least 17 years of age and who have secured Electronic
Identity Cards (Kartu Tanda Penduduk Elektronik). Said assistance will be provided in the
form of a subsidy of Rp. 7 million that will be offered by industrial companies. These
companies will subsequently be reimbursed by the government.
Furthermore, the Amendment has also adjusted certain recapitulation periods for the
submission of reimbursement requests. These periods now break down as follows: 1)
March 2023 – November 2023 (no later than the 15th day of the following month); and 2)
15 December 2023 – 31 December 2023 (to be submitted for payments that will be
completed during the following fiscal year).
In addition, any reimbursement requests that were submitted before the Amendment
came into force will continue to be processed in accordance with provisions originally set
under Regulation of the Minister of Industry No. 6 of 2023.

Regulation of the Minister of Industry No. 23 of 2023 on the Second Amendment to
Regulation of the Minister of Industry No. 54/M-IND/PER/3/2012 of 2012 on Guidelines for
the Utilization of Domestic Products for the Development of Electrical Infrastructure
Enforcement Date: 1 September 2023
Summary:
The Second Amendment has now adjusted the minimum Domestic Component Level
(Tingkat Komponen Dalam Negeri – “TKDN”) values for solar modules that are located at
Solar Power Plants (Pembangkit Listrik Tenaga Surya – “PLTS”) to at least 60% commencing
1 January 2025.
Furthermore, the Second Amendment also states that the minimum TKDN values for goods
and combined goods and services, as stipulated under Regulation of the Minister of
Industry No. 54/M-IND/PER/3/2012 of 2012, now exempt the establishment of PLTS within
the Nusantara State Capital City of Indonesia (Ibu Kota Negara) under certain conditions.

Monetary and Payment Systems
Regulation of Bank Indonesia No. 8 of 2023 on the Revocation of the Regulation of Bank
Indonesia No. 22/7/PBI/2020 on the Adjustment of the Implementation of Bank Indonesia
Provisions as a Result of the COVID-19 Pandemic
Enforcement Date: 21 August 2023
Summary:
This regulation revokes Regulation of BI No. 22/7/PBI/2020 on the Adjustment of the
Implementation of BI Provisions as a Result of the COVID-19 Pandemic (“Regulation
22/2020”).
However, the various policies that are stipulated under the framework of Regulation
22/2020 may continue to be implemented until BI decides to adjust said policies.

Regulation of Bank Indonesia No. 9 of 2023 on the Amendment to Regulation of Bank
Indonesia No. 22/14/PBI/2020 on Monetary Operations
Enforcement Date: 5 September 2023
Summary
The Amendment now includes Bank Indonesia Rupiah Securities (Sekuritas Rupiah Bank
Indonesia – “SRBI”), which are categorized as rupiah currency bonds that are issued by
Bank Indonesia. As a result, the issuance of SRBI may now be implemented during
conventional open-market operations (“OPT”). Moreover, SRBI are also listed as bonds
(surat berharga) in relation to the provision of rupiah lending facilities that operate under
conventional standing facilities. In addition, SRBI have also been incorporated into various
arrangements, including matters that relate to foreign exchange SRBI and SRBI settlements.
SRBI possess various characteristics, specifically: 1) Use underlying assets in the form of the
state bonds (surat berharga negara); 2) Have periods of at least one week up to a
maximum of 12 months; 3) Are issued without warkat; 4) Are issued and traded through a
discounted system; 5) May be transferred (dipindahtangankan); and 6) May be owned by
communities (penduduk)/non-communities through the secondary market.

Regulation of the Bank Indonesia Board of Governors No. 6 of 2023 on the Fourth
Amendment to Regulation of the Bank Indonesia Board of Governors No. 22/22/PADG/2020
on Open-Market Operation Instruments
Enforcement Date: 7 September 2023
Summary:
Conventional Open-Market Operations (Operasi Pasar Terbuka – “OPT”) should be
implemented through the following instruments: 1) Issuance of certificates of Bank
Indonesia (Sertifikat Bank Indonesia/SBI), BI Deposit Certificates (Sertifikat Deposito BI/
SDBI), BI Rupiah Securities (Sekuritas Rupiah BI – “ SRBI”) and/or BI bonds in foreign
currencies (surat berharga BI dalam Valuta Asing/SBBI Valas); 2) Conventional OPT repo
transactions and/or conventional OPT repo-reverse transactions; 3) SBN sale and/or
purchase transactions through outright means through the secondary market; 4)
Conventional OPT term deposit transactions in rupiah/foreign currencies; 5) Spot, swap,
forward transactions and/or Domestic Non-Deliverable Forward (“DNDF”) transactions;
and/or 6) Issuance of other bonds (surat berharga) and/or other transactions, either
through the money market or foreign currency market, as stipulated by BI.
Various other changes have also been introduced under the fourth amendment, while
seven characteristics of SRBI have now been specified, which include the following: 1) Must
use underlying assets in the form of State Bonds (Surat Berharga Negara/SBN); 2) Must be
in units that amount to Rp. 1 million; 3) Must cover periods of the period of at least a week
up to a maximum of 12 months; 4) Must be issued and traded through the discount
(diskonto) system; 5) Must be transferred (dipindahtangankan) through the secondary
market via sales and purchase through outright means, repurchase agreements, etc.
DNDF have also been ascribed seven characteristics, which include the following, amongst
others: 1) The foreign currency of the United States dollar must be used; 2) The tenors of
transactions must be implemented for more than two business days up to a maximum of
12 months; 3) Settlements should be implemented through calculations of the differences
between DNDF exchange rates and reference exchange rates; 4) Transactions may be
extended (rollover); 5) Cannot be unwound and terminated early.

Regulation of the Bank Indonesia Board of Governors No. 7 of 2023 on the Amendment to
Regulation of the Bank Indonesia Board of Governors No. 22/25/PADG/2020 on the Criteria
and Requirements for Bonds During Monetary Operations
Enforcement Date: 7 September 2023
Summary:
The types of bonds (surat berharga) have been redefined as follows: 1) Certificates of Bank
Indonesia (Sertifikat Bank Indonesia/SBI); 2) BI Deposit Certificates (Sertifikat Deposito BI/
SDBI); 3) BI Rupiah Securities (Sekuritas Rupiah BI – “SRBI”); 4) BI Sukuk (Sukbi); 5) State
Bonds (Surat Berharga Negara/SBN); and 6) Long/short-term foreign currency bonds
issued by the governments of other countries (sovereign bonds).
Amongst the other changes that have now been introduced under the amendment, SRBI
may now be used during conventional Open-Market Operations (Operasi Pasar Terbuka –
“OPT”) and in relation to lending facilities. A remaining SRBI period (sisa jangka waktu) of
at least two business days must be fulfilled during the second leg of any conventional OPT
repo transaction and lending facility. Moreover, haircuts against bonds for SRB have been
stipulated at 0%.

Regulation of the Bank Indonesia Board of Governors No. 8 of 2023 on the Second
Amendment to Regulation of the Bank Indonesia Board of Governors No. 22/23/PADG/2020
on the Implementation of Open-Market Operations
Enforcement Date: 7 September 2023
Summary:
Amongst other changes that have been introduced under the second amendment, various
matters concerning Bank Indonesia Rupiah Securities (Sekuritas Rupiah Bank Indonesia –
“SRBI”) have now been introduced, including matters that relate to the following areas: 1)
Auction announcements (which must outline 10 specific types of information, including:
transaction facilities, day and date of the relevant auction, period, due date, auction
method, indicative targets, etc.); 2) Offering of SRBI auction submissions (which must
contain one of the following types of information: a) Nominal value (for fixed-rate tenders)
or nominal value and discount rate (for variable rate tenders); b) Stipulation of SRBI auction
winners; c) Announcement of SRBI auction results; d) Settlement of SRBI and relevant
sanctions; and so forth.

Regulation of the Bank Indonesia Board of Governors No. 9 of 2023 on the Amendment to
Regulation of the Bank Indonesia Board of Governors No. 22/24/PADG/2020 on Standing
Facilities
Enforcement Date: 7 September 2023
Summary:
The types of bonds (surat berharga), which can be defined as repo during lending facility
transactions have now been redefined as follows: 1) Certificates of Bank Indonesia
(Sertifikat Bank Indonesia/SBI); 2) BI Deposit Certificates (Sertifikat Deposito BI/SDBI); 3) BI
Rupiah Securities (Sekuritas Rupiah BI – “SRBI”); 4) BI Sukuk (Sukbi); and 5) State Bonds
(Surat Berharga Negara/SBN). Through the inclusion of SRBI under the amendment,
various matters that relate to standing facilities now also reflect SRBI, including matters
that relate to any failed settlements.
Documents relating to financing facilities that could previously be submitted offline may
now be submitted online via the following email address: KepesertaanOM@bi.go.id.

Natural Resources
Regulation of the Minister of Marine Affairs and Fisheries No. 28 of 2023 on the
Implementing Regulation to Regulation of the Government No. 11 of 2023 on Measured
Fishing
Enforcement Date: 1 September 2023
Summary:
This new regulation comprises 12 chapters that span 116 articles, that set out details of the
implementation of measured fishing across Indonesian territory and that address various
matters, including: 1) Measured fishing quotas (“Quotas”) (e.g. classification, distribution,
utilization and transfers); 2) Reporting obligations; 3) Fishing areas; 4) Transshipments; 5)
Determinations of base ports; and 6) Fish landings.
Quotas themselves have been subdivided into three main categories, specifically: 1)
Industrial; 2) Local fishermen; and 3) Non-commercial. In addition to these Quotas,
Regulation 28/2023 also sets out special Quotas for small fishermen, which may take the
form of the Quotas outlined in points (1) and/or (2).
Quotas may also be transferred as part of additional Quotas for industrial and/or local
fishermen, while said transfers may be completed through either of the following methods:
1) Transfers of Quotas from fishing vessels located within the territories covered by the
same Fisheries Business Permits (Surat Izin Usaha Perikanan – “SIUP”); or 2) Transfers of
Quotas from fishing vessels located within territories covered by different SIUP.
Further information on this framework can be found in the following edition of Indonesian
Law Digest: “Measured Fishing: Indonesian Efforts to Establish Sustainable Fisheries.”

Decree of the Head of the Fish Quarantine, Quality Control and Fisheries Product Safety
Agency No. 32 of 2023 on Implementing Guidelines for the Certification of the Application of
the Integrated Quality Management Program/Hazard Analysis and Critical Control Points
Enforcement Date: 11 August 2023
Summary:
Stipulates a set of Implementing Guidelines for the Certification of the Application of the
Integrated Quality Management Program/Hazard Analysis and Critical Control Points
(“Certification”), which should be used as a reference during the implementation
Certification, as comprehensively detailed under the Appendix to this Decree, which
contains a total of 101 pages and eight chapters.

Decree of the Head of the Fish Quarantine, Quality Control and Fisheries Product Safety
Agency No. 35 of 2023 on Technical Guidelines for Investigations of the Results of Attempts
to Control Pests and Diseases of Quarantined Fish/Pests and Diseases of Certain Fish
Enforcement Date: 22 August 2023
Summary:
Stipulates a set of Technical Guidelines for Investigations of the Results of Attempts to
Control Pests and Diseases of Quarantined Fish/Pests and Diseases of Certain Fish, as
comprehensively detailed under the Appendix to this Decree, which contains a total of 29
pages and six chapters.

Non-Bank Financial Services
Draft Regulation of the Financial Services Authority on the Organization of Pension Fund
Businesses
Enforcement Date: –
Summary:
The Draft Regulation covers a broad range of arrangements that specifically relate to the
organization of pension fund businesses and that span 223 articles and 11 chapters.
Amongst other arrangements, the Draft Regulation addresses the following related
matters: 1) Premiums; 3) Pension benefits and other benefits; 4) The funding of pension
funds; 5) Actuaries reports; 6) Pension fund investments; 7) Investment management
transfers.

Pharmaceutical, Healthcare and Food and Drug Standards
Regulation of the President No. 54 of 2023 on the Development and Utilization of Jamu
Products
Enforcement Date: 14 September 2023
Summary:
Jamu products must fulfill five criteria, specifically: 1) Must derive from traditional
knowledge or cultural heritage; 2) Must utilize sources of raw materials or raw materials; 3)
Must be produced by mixers (peramu), producers (pembuat) and/or processors (pengolah);
4) Must be produced based on evidence; 5) Must have proven efficacy or functionality; and
6) Must meet various safety and quality requirements.
Jamu products should be developed through the application of the following strategies: 1)
Strengthening of production systems; 2) Market strengthening; 3) Increasing of
communities’ traditional knowledge and human resources competence; 4) Development of
integrated jamu-product information systems; 5) Strengthening of science and technology;
6) Preservation and protection of raw materials resources; and 7) Strengthening of
institutions, regulatory frameworks and infrastructure. Meanwhile, the utilization of jamu
products should be strengthened throughout the healthcare and non-healthcare sectors.
The regulation also sets out a road map for the development and utilization of jamu
products, which will be applied during the 2023 – 2045 period in line with the following
considerations: 1) The Indonesian Vision for 2045; 2) National long/medium-term
development plan; 3) Sustainable development goals; and 5) National/international
strategic policies. The roadmap is comprehensively elaborated upon under the Appendix to
the Regulation.

Circular of the Minister of Health No. HK.02.01/MENKES/1911/2023 on the Organization of
the Registration and Licensing of Medical Workers and Healthcare Workers after the Issuance
of Law Number 17 of 2023 on Health
Enforcement Date: 24 August 2023
Summary:
In order to ensure legal certainty during the issuance of STR and SIP prior to the
promulgation of a forthcoming implementing regulation to Law 17/2023, the Minister of
Health has issued Circular No. Hk. 02.01/Menkes/1911/2023 (“Circular 2/2023”), which
will now serve as a reference for the issuance of Registration Certificates (Surat Tanda
Registrasi – “STR”) and Practice Permits (Surat Izin Praktik – “SIP”) in the wake of the
issuance of Law 17/2023.

Circular 2/2023 allows for medical workers and healthcare personnel to renew their STR so
that they have lifelong validity through the submission of applications to the Indonesian
Medical Council along with their previous STR.
Circular 2/2023 also sets out procedures for the issuance of new SIP and for SIP extensions,
which should be followed by medical workers and healthcare personnel.
For more information, see ILB No. 4706.
Circular of the Director-General of Disease Prevention and Control No. HK.02.02/C/
3628/2023 on Countermeasures for the Impact of Air Pollution on Health
Enforcement Date: 28 August 2023
Summary:
The Circular addresses various measures that can boost countermeasures aimed at dealing
with disturbances and respiratory diseases that result from excessive air pollution,
including the following: 1) Education of the general public through campaigns that address
the short-term/long-term effects of air pollution (e.g. short term: increases in rates of
Acute Respiratory Infection [infeksi saluran pernapasan akut/ISPA], increase in rates of
heart attacks; long term: increased risk of cancer, stunting and bronchial hyperactivity); 2)
Encouraging general awareness among the general public regarding the need to regularly
monitor air quality through authorized parties; 3) Construction of healthcare facilities
capable of handling diseases caused by air pollution; and so forth.
The general public is also being encouraged to implement air quality monitoring, to work to
control increasing rates of disease caused by air pollution and to report such cases to the
Director-General through the following media – online: https://skdr.surveilans.org; phone:
0877-7759-1097 (WhatsApp number of the Public Health Emergency Operation Centre);
email: poskoklb@yahoo.com.

Circular of the Director-General of Disease Prevention and Control No. PM.03.02/C/
3476/2023 of 2023 on Initial Awareness of Increased Cases of Digestive Tract Infections
(PISP) During the Dry Season
Enforcement Date: 8 August 2023
Summary:
Mandates that relevant stakeholders (e.g. regional healthcare services and facilities) should
implement PISP mitigation measures. Said measures encompass the following activities,
amongst others: 1) Dissemination of information to the general public through health
promotion activities; 2) Increasing PISP epidemiological surveillance across all healthcare
facilities; 3) Establishment of Fast-Moving Teams (Team Gerak Cepat/TGC) at Public Health
Centers (Puskesmas); 4) Preparation of laboratory tests; and so forth.
The relevant stakeholders are also encouraged to report related cases to the DirectorGeneral of Disease Prevention and Control via the Public Health Emergency Operation
Centre (WhatsApp/phone number: 0877-7759-1097 or email: poskokib@yahoo.com).

Regulation of the National Agency of Drug and Food Control No. 22 of 2023 on Raw
Ingredients That Are Prohibited for Use in Processed Food and Ingredients That Are
Prohibited for Use as Food Additives
Enforcement Date: 15 August 2023
Summary:
The National Agency of Drug and Food Control (Badan Pengawas Obat dan Makanan –
“BPOM”) has updated the lists of raw ingredients that are prohibited from being used in
processed foods (“Prohibited Raw Materials”) and ingredients that are prohibited from
being used as food additives (bahan tambahan pangan/BTP) (“Prohibited Ingredients”). In
essence, the list of Prohibited Raw Materials has been readjusted while various new types
of Prohibited Ingredients have been incorporated into the list.
The readjustment of said Prohibited Raw Materials breaks down as follows: 1) Ingredients
that derive from biological resources (from 165 to 156 ingredient types); 2) Ingredients that
are prohibited for use in compounds in processed foods (from 35 to five ingredient types).
Meanwhile, 45 Prohibited Ingredients are listed under the new regulation, including: 1)
Boric acid and related substances; 2) Dulcamara; 3) Chloramphenicol; and so forth.
These lists of ingredients may be readjusted in the future in line with scientific and
technological developments through official Decrees of the Head of BPOM.
For more information, see ILB No. 4716.

Draft Regulation of the National Agency of Drug and Food Control on Requirements and
Procedures for the Submission of Applications for Analyses of Supervision Results for Imports
and Export of Narcotics, Psychotropics and Pharmaceutical Precursors
Enforcement Date: –
Summary:
Indonesia’s Food and Drug Supervisory Agency (Badan Pengawas Obat dan Makanan –
“BPOM”) is currently preparing a Draft Regulation (“Draft Regulation”) that will adjust
various matters relating to the applicable requirements and procedures for the submission
of applications for Analyses of Supervision Results (Analisa Hasil Pengawasan – “AHP”) for
Narcotics, Psychotropics and Pharmaceutical Precursors (collectively referred to as
“Drugs”), as originally set out under Regulation of the BPOM No. 26 of 2020 (“Regulation
26/2020”). In this regard, inputs that specifically address the Draft Regulation may be
submitted to BPOM by members of the general public until a deadline of 25 September
2023 through the following official link: http://bit.ly/FormatMasukanPERBPOM.
While the Draft Regulation still refers to the permitted purposes that underlie imports and
exports of Drugs, the forthcoming framework has now removed the explicit obligation for
AHP applicants for imports and exports of narcotics to be state-owned pharmaceutical
wholesalers (Pedagang Besar Farmasi – “PBF”), as is currently the case under the
framework of Regulation 26/2020. However, all narcotics importers and exporters must
first secure special permits for these activities from the Minister of Health.
In addition to the currently applicable AHP application submission regime that is processed
through BPOM’s official website for AHP services, the Draft Regulation now states that AHP
applications may also be submitted through the Indonesian National Single Window
System (“SINSW”). Moreover, the Draft Regulation classifies the various required
documents for submissions of AHP applications as those that apply to pharmaceutical
industries, those that apply to PBF (which specifically encompass eight types of
documents) and those that apply to scientific institutions (which specifically encompass
two types of documents).
The Draft Regulation has also now clarified that each submitted AHP application only has
validity for one Drug item for a one-time import or export. Furthermore, the Draft
Regulation also mandates that the applicable non-tax state revenue for AHP applications
should be paid within seven calendar days of any such submission via BPOM’s website or
SINSW.

Draft Regulation of the National Agency of Drug and Food Control on Requirements and
Procedures for Applications for Analyses of Supervision Results in Relation to Imports and
Exports of Narcotics, Psychotropics and Pharmaceutical Precursors
Enforcement Date: –
Summary
Narcotics, psychotropics and pharmaceutical precursors (collectively referred to as
“Products”) can only be imported or exported for the following purposes: 1) Health service
purposes; and/or 2) Scientific and technological developments. Said Products can only be
imported or exported after SNI and/or SPE have been secured for them, as issued by the
Minister of Health (“Minister”). A given importer or exporter is also required to secure an
Analysis of Supervision Results (Analisis Hasil Pengawasan – “AHP”), as issued by the Head
of the National Agency of Drug and Food Control, prior to applying for an import/export
approval letter (surat persetujuan impor/ekspor).
Relevant applicants are subject to certain provisions, as follows: 1) Parties applying for AHP
for the purpose of imports/exports of narcotics must first secure special narcotics
importers permits from the Minister; 2) Parties applying for AHP for the purpose of imports
of psychotropics encompass: producer-importers of psychotropics (importir produsen –
“IP”)/registered importers (importir terdaftar – “IT”) of psychotropics, IT of pharmaceutical
precursors and scientific institutions. Meanwhile, exporters encompass the following
parties: producer-exporters (eksportir produsen – “EP”)/registered exporters (eksportir
terdaftar – “ET”) of psychotropics; 3) Parties applying for AHP for the purpose of
pharmaceutical precursors encompass: IP/IT pharmaceutical precursors and scientific
institutions, while exporters encompass: EP/ET pharmaceutical precursors.
AHP applicants should complete registrations in order to secure usernames and passwords
through a single sign-on mechanism through the official AHP BPOM services site or the
SINSW.

Tax and Non-Tax Charges
Regulation of the Minister of Finance No. 74 of 2023 on the Second Amendment to
Regulation of the Minister of Finance No. 10/PMK.010/2021 on the Imposition of Import
Duty for Safeguard Measures for Imports of Carpets and Other Floor Covering Textile
Products
Enforcement Date: 22 August 2023
Summary:
Import duty for safeguard measures (“Import Duty”) should be imposed in addition to the
following previously imposed types of import duty: 1) Most favored nation; or 2)
Preferential, as based on agreements or international treaties. Said Import Duty will be
imposed in relation to imports of carpets and other floor covering textile products
(“Products”) from all countries with the exception of 121 countries, which have been
exempted from the imposition of the Import Duty on imports of Products, including: 1)
Brunei Darussalam; 2) Costa Rica; 3) Hong Kong/China; 4) India; 5) The Philippines; 6)
Macao/China; 7) South Africa; 8) Singapore; 9) Saudi Arabia; and 10) Myanmar (collectively
referred to as “Exempted Countries”).
Imports of Products from Exempted Countries require importers to submit certificates of
origin (surat keterangan asal). In this regard, all such Products must fulfill the rules of origin
(ketentuan asal barang) based on agreements or international treaties in line with the
following criteria/provisions: 1) Origin criteria; 2) Consignment criteria; and 3) Procedural
procedures.
If provisions that relate to imports from Exempted Countries are not fulfilled and
retroactive checks are requested in relation to certificates of origin, then the relevant
imports will subsequently have Import Duty imposed on them.

Regulation of the Minister of Finance No. 78 of 2023 on Re-Examinations Within the Customs
Sector
Enforcement Date: 22 October 2023
Summary:
The Director-General of Customs and Excise is authorized to oversee post-customsclearance re-examinations, which will be implemented on the ground by designated
Customs-and-Excise Officials (“Officials”) in relation to customs import notifications and
customs export notifications that were registered over 30 days previously.
Officials will be authorized to request various items from relevant importers, exporters
and/or owners of goods through importers or exporters, which should be fulfilled by said
parties. Said requests encompass: 1) Requests for data and/or documents; 2) Requests for
verbal/written information; 3) Requests for goods samples.
If the above-described parties fail to fulfill such requests, then various types of sanctions
may be imposed upon them, including the issuance of letters of reprimand and the
blocking of customs access.
For more information, see ILB No. 4717.

Regulation of the Minister of Finance No. 80 of 2023 on Procedures for the Issuance of Tax
Assessments and Tax Bills
Enforcement Date: 24 August 2023
Summary
The new regulation sets out various technical provisions and procedures for the issuance of
Tax Assessment (Surat Ketetapan Pajak – “SKP”) and Tax Collection (Surat Tagihan Pajak –
“STP”) notifications and spans seven chapters and 39 articles. These seven chapters
include: 1) Issuance of SKP and SKP for Land and Building Tax; 2) Issuance of STP; 3)
Issuance of STP for Land and Building Tax; 4) Submission of SKP, SKP for Land and Building
Tax, STP and STP for Land and Building Tax.
In essence, the Directorate-General of Taxation has the authority to issue the following
types of SKP and/or STP: 1) Tax Assessment Underpayment Notifications (Surat Ketetapan
Pajak Kurang Bayar – “SKPKB”); 2) Additional Tax Assessment Underpayment Notifications
(“Surat Ketetapan Pajak Kurang Bayar Tambahan – “SKPKBT”); 3) Nil Tax Assessment
Notifications (Surat Ketetapan Pajak Nihil – “SKPN”); 4) Tax Assessment Overpayment

Notifications (Surat Ketetapan Pajak Lebih Bayar – “SKPLB”); 5) Land and Building Tax
Assessment Notifications (Surat Ketetapan Pajak Bumi dan Bangunan – “SKPPBB”); 6) STP
Notifications; and 7) STP for Land and Building Tax Notifications.
SKPKB, SKPKBT and STP can be issued for the following types of taxes: 1) Income Tax; 2)
Value-Added Tax; 3) Sales Tax and Luxury Goods Sales Tax; 4) Stamp Duty; 5) Sales Tax; and
6) Carbon Tax. Meanwhile, SKPN and SKPLB can also be issued for the aforementioned
types of taxes with the addition of land and building taxes if the relevant tax objects
comprise land/buildings.

Regulation of the Minister of Finance No. 81 of 2023 on the Amendment to Regulation of the
Minister of Finance No. 126/PMK.010/2020 on the Imposition of Import Duty for Safeguard
Measures for Imports of Fructose Syrup Products
Enforcement Date: 7 September 2023
Summary:
The imposition of import duty for safeguard measures (“Import Duty”) for imports of
fructose syrup products (“Products”) will now be subject to the following additional import
duties: 1) Most favored nation; or 2) Preferential import duty based on agreements or
international treaties. The imposition of Import Duty will apply in relation to imports of
Products from all countries.
However, the imposition of said Import Duty now exempts 122 countries, as listed under
the Appendix to this Regulation. Said exempted countries include: 1) Brunei Darussalam; 2)
Costa Rica; 3) Hong Kong, China; 4) Pakistan; 5) Saudi Arabia; 6) South Africa; 7) Mexico; 8)
Vietnam; 9) Yemen; 10) Zimbabwe (collectively referred to as “Exempted Countries”).
Whenever Products are imported from Exempted Countries, importers are required to
submit certificates of origin (surat keterangan asal). In cases where imports utilize
preferential certificates of origin, imported goods must fulfill rules of origin (ketentuan asal
barang) that fulfill: 1) Origin criteria; 2) Consignment criteria; and 3) Procedural provisions.

Regulation of the Minister of Finance No. 85 of 2023 on Types and Tariffs of Volatile Non-Tax
State Revenue Applicable at the Ministry of Agriculture
Enforcement Date: 1 September 2023
Summary:
The volatile (Penerimaan Negara Bukan Pajak – “PNBP”) applicable at the Ministry of
Agriculture encompasses income from the following types of services/products: 1) Testing
and analysis, as well as certification; 2) Data processing and map reproduction; 3)
Standardization and the dissemination of technology; 4) Training for agricultural human
resources; and 5) Agricultural products. Details of the above PNBP tariffs are
comprehensively listed under the Appendix to the Regulation.
Tariffs of as low as 0% may be imposed in line with certain considerations.

Regulation of the Minister of Finance No. 87 of 2023 on the Determination of Import-Duty
Tariffs under the Framework of the Comprehensive Economic Partnership Agreement
Between the Government of the Republic of Indonesia and the Government of the United
Arab Emirates
Enforcement Date: 1 September 2023
Summary:
Stipulates various import-duty tariffs for goods that are imported from the United Arab
Emirates, as comprehensively listed under Appendix A to the Regulation. The Regulation
stipulates various import-duty tariffs, which will be applicable during the following periods:
1) Until 31 December 2023; 2) 1 January 2024 – 31 December 2024; 3) 1 January 2025 – 31
December 2025; 4) 1 January 2026 – 31 December 2026; 5) 1 January 2027 – 31 December
2027; 6) 1 January 2028 – 31 December 2028; 7) 1 January 2029 – 31 December 2029; 8) 1
January 2030 – 31 December 2030; 9) 1 January 2031 – 31 December 2032; 10) 1 January
2032 – 31 December 2032; 11) 1 January 2033 onwards.

The Regulation also stipulates tariff-rate quotas, as comprehensively listed under Appendix
B to this Regulation. Said tariff stipulations are to be completed based on the following
provisions: 1) In-quota preferential tariff, which comprises an import-duty preference
under the tariff-rate quota scheme and which will be applied to imports that do not exceed
the annual quotas set under the tariff-rate quota scheme; and 2) Out-quota preferential
tariff, which comprises preferential import duty under the tariff-rate quota scheme and
which applies to imports that exceed the annual quotas set under the tariff-rate quota
scheme.

Regulation of the Minister of Finance No. 88 of 2023 on Procedures for the Imposition of
Import-Duty Tariffs on Imported Goods Based on the Comprehensive Economic Partnership
Agreement Between the Government of the Republic of Indonesia and the Government of
the United Arab Emirates
Enforcement Date: 1 September 2023
Summary:
Imported goods may be subject to the imposition of preferential tariffs, the amounts of
which may differ from the relevant most favored nation import-duty tariffs, provided that
said tariffs fulfill the rules of origin (ketentuan asal barang). Said preferential tariffs will be
imposed in relation to the following activities: 1) Imports of goods that will be utilized and
that are covered by import declarations (pemberitahuan impor barang – “PIB”); 2) Imports
of goods that will be utilized and that are covered by PIB from Bonded Storage Areas
(Tempat Penimbunan Berikat/TPB) whenever goods that enter the relevant TPB secure
approvals for the use of preferential tariffs; 3) Imports of goods that will be utilized and
that are covered by PIB from Bonded Logistics Centers (Pusat Logistik Berikat/PLB)
whenever goods that enter the relevant PLB secure approvals for the use of preferential
tariffs; 4) Releases of goods deriving from production processes from free-zones to the
Other Areas Within Customs Areas (Tempat Lain dalam Daerah Pabean – “TLDDP”) under
certain conditions; and 5) Releases of goods from Special Economic Zones (Kawasan
ekonomi khusus – “KEK”) to TLDDP whenever goods that enter the relevant KEK secure
approvals for the use of preferential tariffs.

The rules of origin encompass the following: 1) Origin criteria; 2) Consignment criteria; 3)
Procedural provisions, details of which are comprehensively elaborated upon under
Appendix A to this Regulation.
Regulation of the Minister of Finance No. 90 of 2023 on Determinations of Underpayments
and Overpayments of Profit-Sharing Funds for 2023
Enforcement Date: 11 September 2023
Summary
Determines underpayment and overpayment allocations for Profit-Sharing Funds (Dana
Bagi Hasil) for 2023 that are in line with the following fiscal years: 1) Underpayments until
the 2021 fiscal year; 2) Underpayments for the 2022 fiscal year; 3) Overpayments until the
2021 fiscal year; and 3) Overpayments for the 2022 fiscal year. The complete list of
underpayment and overpayment allocations for each regional province/district/city can be
found under the Appendix to the Regulation.

Regulation of the Minister of Finance No. 92 of 2023 on Applications and Accountability
Mechanisms for Taxes Borne by the Government
Enforcement Date: 18 September 2023
Summary
The Minister of Finance (“Minister”) has established a set of application and accountability
mechanisms for various types of taxes borne by the government (Pajak Ditanggung
Pemerintah – “DTP Taxes”), which simultaneously repeals and replaces Regulation of the
Minister No. 228/PMK.05/2010 of 2010, as amended by Regulation of the Minister No.
237/PMK.05/2011 of 2011, which covered the same matters as the new Regulation.
The Regulation states that DTP Taxes encompass: 1) Subsidy expenditure for DTP Taxes (i.e.
DTP for income taxes [“PPh”], value-added taxes [“PPN”] and luxury-goods sales taxes
[“PPnBM”]); and 2) DTP tax income (i.e. income from PPh, PPN and PPnBM.

Decree of the Minister of Environment and Forestry No. SK.661/MENLHK/SETJEN/KUM.
1/6/2023 of 2023 on the Stipulation of Non-Tax State Revenue Rates in Order to Accelerate
Completion of Palm-Oil Plantation Business Activities Established in Forest Areas Without
Forestry Sector Permits in Line with the Implementation of the Job-Creation Law Within the
Environment and Forestry Sector
Enforcement Date: 21 June 2023
Summary
The types of non-tax state revenue (Penerimaan Negara Bukan Pajak – “PNBP”) that apply
under this Decree derive from the following types of income: 1) Provision of Forest
Resources (Provisi Sumber Daya Hutan – “PSDH”) and Reforestation Funds (Dana Reboisasi
– “DR”) for palm-oil plantation business activities that fall under Article 110 of Law No. 6 of
2023; and 2) Administrative fines that are imposed within the forestry sector for palm-oil
plantation business activities that have been established in forest areas without forestry
sector permits, as set out under Article 110B of Law No. 6 of 2023.
The PNBP for said PSDH and/or DR above should be calculated using a formula that has
been based on the relevant built-up area and standing potential. Meanwhile, the PNBP for
administrative fines has been set at Rp. 1.6 million per year per hectare for fines that are
imposed in relation to Production Forest Areas and Rp. 2 million for fines that are imposed
in relation to Protected Forest Areas or Conservation Forest Areas.

Letter of the Director General of Immigration No. IMI-GR.01.01-0256 of 2023 on the
Submission of Regulation of the Minister of Finance No. 82 of 2023 on Types and Tariffs of
Non-Tax State Revenue for Urgent Requirements for Golden-Visa Services Applicable at the
Ministry of Law and Human Rights
Enforcement Date: 01 September 2023
Summary
The tariffs for immigration services which are not provided under Regulations of the
Minister of Finance (“Minister”) in relation to the new Golden Visa, should be set in
reference to tariffs originally stipulated under Regulation of the Government No. 28 of
2019 on Types and Tariffs of Non-Tax State Revenue (Penerimaan Negara Bukan Pajak –
“PNBP”) Applicable at the Ministry of Laws and Human Rights (“Regulation 28/2019”) and
Regulation of the Minister No. 9/PMK.02/2022 of 2022 on Types of and Tariffs for Urgently
Required PNBP for Immigration Services Applicable at the Ministry of Law and Human
Rights (“Regulation 9/2022”). However, the types and tariffs that apply in relation to
second homes, as addressed under the framework of Regulation 9/2022, have now been
declared invalid.
A tariff of Rp. 500,000 has been set for the new Golden Visa Limited-Stay Visa, with
additional applicable verification fees that should be levied in accordance with the various
categories set out under Regulation of the Minister of Law and Human Rights No. 22 of
2023 on Visas and Stay Permits. Meanwhile, Limited-Stay Visas that do not fall under the
Golden Visa scheme should be issued in line with Regulation 28/2019, while the applicable
tariff for this type of visa has been set at US$ 150.00.

Technology, Media and Telecommunications
Regulation of the Government No. 43 of 2023 on the Types and Tariffs of Non-Tax State
Revenue Applicable at the Ministry of Communication and Informatics
Enforcement Date: 19 December 2023
Summary:
At its core, the Regulation features a total of 12 types of Non-Tax State Revenue
(Penerimaan Negara Bukan Pajak – “PNBP”) applicable at the Ministry of Communication
and Informatics (“Ministry”), as comprehensively outlined under the Appendix to the
Regulation. Certain types of PNBP have now been newly introduced under the Regulation,
including in relation to the following areas: 1) Testing of telecommunications equipment
and/or devices; 2) Organization of electronic systems and transactions; and 3)
Administrative fines within the communications and informatics sector.
In terms of the PNBP outlined in point (2) above, in addition to the inclusion of Indonesian
domain name rights management fees, the Regulation has now introduced fees for the
right to organize electronic certification that will apply to non-governmental agency
organizers of electronic certification (Penyelenggara Sertifikasi Elektronik/PSrE) or
certificate authorities (“Certification Providers”), which will be charged at a rate of 1.75%
of the relevant Certification Provider’s gross income.
Meanwhile, in terms of PNBP deriving from administrative fines, the Regulation states that
said fines will be imposed in relation to seven types of violations, including: 1)
Radiofrequency spectrum violations; 2) Postal, broadcasting and/or telecommunications
service violations; and 3) The failure of any Private Electronic System Organizers
(Penyelenggara Sistem Elektronik/PSE) that organize User Generated Content (“UGC”) to
complete access cutoffs (takedowns). In terms of UGC takedown violations, the Regulation
stipulates that said PNBP should be calculated in line with several specific indices,
including: 1) Content (takedown urgency); 2) UGC (number of customers); 3) Scale of
business; 4) Frequency of issued reprimands; 5) Compliance; and 6) Virality.

Regulation of the Minister of Communication and Information Technology No. 5 of 2023 on
the Masterplan and Operational Technical Provisions for the Use of the Radiofrequency
Spectrum for Terrestrial Media Radio Broadcasting Services
Enforcement Date: 24 August 2023
Summary:
The use of the radiofrequency spectrum (“Spectrum”) for the purposes of radio
broadcasting through terrestrial media (“Terrestrial Radio”) must be implemented in line
with the following bases: 1) Master plan for the use of the Spectrum; and 3) Technical
provisions.
Six radiofrequency bands in total relate to the use of the Spectrum by Terrestrial Radio,
specifically: 1) Media frequency (“MF”) in the radiofrequency range of 526.5 – 1605.5 kHz
using analog technology standards that are based on amplitude modulation (AM); 2) MF in
the radio frequency range of 526.5 – 1606.5 kHz using digital technology standards that are
based on Digital Radio Mondiale (DRM); 3) Very high frequency (VHF) Band II in the
radiofrequency range of 87.5 – 108 MHz using analog technology standards that are based
on Frequency Modulation (FM); and so forth. Terrestrial Radio users of the Spectrum are
required to: 1) Secure radio-station permits (ISR); and 2) Utilize telecommunications
equipment and/or devices that have fulfilled the required technical standards, as proven
through possession of relevant certification.
Technical arrangements are specifically addressed under the Regulation and its various
Appendices.

Regulation of the Minister of Communication and Informatics No. 6 of 2023 on the
Revocation of 7 (seven) Regulations of the Minister of Communication and Informatics
Enforcement Date: 11 September 2023
Summary:
The now-revoked legal frameworks listed above break down as follows: 1) Regulation of the
Minister No. 03/PER/M.KOMINFO/1/2006 on Basic Supervision Within the Department of
Communications and Information Technology; 2) Regulation of the Minister No. 31 of 2013
on Technical Requirements for Maritime Radar and Surveillance Radar Equipment and
Devices; 3) Regulation of the Minister No. 40 of 2014 on the Delegation of Authority for the
Implementation of One-Stop Integrated Services Within the Communication and
Information Technology Sector to the Head of the Investment Coordinating Board; 4)
Regulation of the Minister No. 30 of 2015 on Guidelines for the Organization of
Government Internal Control Systems at the Ministry of Communication and Information
Technology; 5) Regulation of the Minister No. 18 of 2017 on Position Classes at the Ministry
of Communication and Information Technology; 6) Regulation of the Minister No. 10 of
2019 on Technical Requirements for Communications Equipment and/or Devices under the
Internet Network Protocol; and 7) Regulation of the Minister No. 8 of 2021 on the
Amendment to Regulation of the Minister No. 18 of 2017 on Position Classes at the
Ministry of Communication and Information Technology.

Draft Regulation of the Minister of Communication and Information Technology on the
Amounts, Requirements and Procedures for the Imposition of Tariffs of as Low as Zero
Rupiah or Zero Percent for Non-Tax State Revenue Applicable at Ministry of Communication
and Information Technology
Enforcement Date: –
Summary
The types of Non-Tax State Revenue (Penerimaan Negara Bukan Pajak – “PNBP”) that are
applicable at the Ministry of Communication and Information Technology derive from the
following areas: 1) Use of the radiofrequency spectrum; 2) Issuance of telecommunications
equipment certificates and/or telecommunications devices; 3) Testing of
telecommunications equipment/devices; 4) Organization of functional training, higher
education, training and competence testing; and 5) Use of facilities and infrastructure in
accordance with the relevant tasks and functions.
The tariff amounts that apply in relation to the above-listed types of PNBP have been set at
0% or 50%.

Trade
Regulation of the Minister of Finance No. 75 of 2023 on the Imposition of Import Duty for
Security Activities Relating to Imported Products of Evaporator Type Rolls and Type Fins
Enforcement Date: 1 September 2023
Summary:
Imported Evaporator Type Rolls and Type Fins (collectively referred to as “Evaporators”)
[i.e. refrigerators, freezers and other cooler/freezer equipment under post tariff ex 8418 .
99.10] will now be subject to the imposition of Import Duty for Security Activities (“Import
Duty”)in addition to the following previously imposed types of import duty: most favored
nation or preferential based on agreements or international treaties (kesepatakan
internasional).
Imported Evaporators (i.e. refrigerators, freezers and other cooler/freezer equipment
under post tariff ex 8418 .99.10) will now be subject to the imposition of Import Duty in
addition to the following previously imposed types of import duty: most favored nation or
preferential based on agreements or international treaties (kesepatakan internasional).
However, 122 countries have been excluded from the imposition of this Import Duty, as
listed under the Appendix to the Regulation, including Honduras, Oman, India, Qatar, the
Philippines, Macao (China), Singapore, Maldives, Pakistan, United Aran Emirates and
Turkiye, etc.
The Import Duty will be imposed over three years in certain percentages, as summarized in
the following Daily Update: “Import Duty Tariffs for Two Types of Evaporators Stipulated.”
Regulation of the Minister of Trade No. 28 of 2023 on Provisions on Goods of Indonesian
Origin and Provisions on the Issuance of Certificates of Origin for Goods of Indonesian Origin

Based on the Comprehensive Economic Partnership Agreement Between the Government of
the Republic of Indonesia and the Government of the United Arab Emirates
Enforcement Date: 1 September 2023
Summary:
The Indonesian rules of origin (ketentuan asal barang), which comprise preferential rules
of origin that are based on the Comprehensive Economic Partnership Agreement Between
the Government of the Republic of Indonesia and the Government of the United Arab
Emirates (“IUAE-CEPA”) are comprehensively detailed under Appendix I to the Regulation.
Certificates of origin (surat keterangan asal), as comprehensively detailed under Appendix
II to the Regulation (including provisions that specifically address operational certification
procedures) are preferential certificates of origin that are based on the IUAE-CEPA.
Applications for the issuance of preferential certificates of origin involve the filling out of
data on the relevant form, which can be accessed through the following official link:
ska.kemendag.go.id. The form can also be found under Appendix III to this Regulation.

Regulation of the Minister of Trade No. 29 of 2023 on the Application of Tariff-Rate Quotas
for Imports of Certain Goods Based on the Comprehensive Economic Partnership Agreement
Between the Government of the Republic of Indonesia and the Government of the United
Arab Emirates
Enforcement Date: 1 September 2023
Summary:
Imports that are completed under the Comprehensive Economic Partnership Agreement
Between the Government of the Republic of Indonesia and the Government of the United
Arab Emirates (IUAE-CEPA) may be implemented based upon the Tariff-Rate Quota (“TRQ”)
scheme, and should involve certain goods in amounts that are in accordance with the TRQ
scheme annual quotas (“Annual Quotas”). Said certain goods are comprehensively listed
under the Appendix to the Regulation and encompass various goods under 33 specific post
tariffs.

Information on Annual Quotas is available through the Indonesia National Single Window
(SNSW) system.
Regulation of the Minister of Trade No. 30 of 2023 on Valid Marks for 2024
Enforcement Date: 13 September 2023
Summary:
The Minister of Trade (“Minister”) has stipulated valid marks that should be utilized
throughout 2024 (“2024 Valid Marks”) during the marking (tera) and/or re-marking (tera
ulang) of measuring equipment (alat ukur), dosage equipment (alat takar), weighing scales
(alat timbang) and supporting equipment (collectively referred as “Instruments”).
The 2024 Valid Marks, which are illustrated under Appendix I to the Regulation, should be
affixed to and/or accompany Instruments that are marked and/or re-marked between 1
January 2024 and 31 December 2024.
In cases where instruments are not suitable for the affixation and/or provision of 2024
Valid Marks, the Regulation states that a given mark should instead be affixed to a seal
above a written affidavit which has been drawn up in accordance with the format set out
under Appendix II to the Regulation.
Furthermore, the 2024 Valid Marks will be considered valid from the date of their affixation
and/or provision until certain dates, which can be seen under the following Daily Updates:
“Minister of Trade Introduces Valid Marks for 2024.”

Regulation of the Minister of Trade No. 31 of 2023 on Business Licensing, Advertising,
Guidance and Supervision for Businesses That Engage in Trade Through Electronic Systems
Enforcement Date: 26 September 2023
Summary:
Regulation 31/2023 has clarified that the available business model forms for organizers of
trading activities via electronic systems (Perdagangan Melalui Sistem Elektronik – “PMSE”)
now include social commerce that involves the use of social media platforms (“Social
Media”) that offer certain features, menus and/or facilities that allow merchants to display
goods and/or offer services.
In terms of the above-mentioned social commerce, Regulation 31/2023 prohibits
organizers of PMSE (Penyelenggara Perdagangan Melalui Sistem Elektronik – “PPMSE”)
from facilitating any payment transactions through their electronic systems (“Systems”).
Moreover, along with marketplace PPMSE, social commerce organizers are also prohibited
from acting as manufacturers in accordance with relevant legal frameworks on the
distribution of goods.

Regulation 31/2023 mandates that PPMSE should supervise, prevent and mitigate any
unfair business and/or price manipulation practices through the establishment of adequate
standard operating procedures. Said measures should be implemented in order to ensure
the following matters: 1) That there is no connection or interconnectivity between a
System utilized for PMSE and any other non-PMSE Systems; and 2) That no controlled data
belonging to PPMSE users can be misused for the benefits of the respective PPMSE and/or
any companies that are affiliated with its System.
Furthermore, any PPMSE that engage in cross-border PMSE activities are required to apply
the minimum price for goods through their Systems and this measure applies to merchants
that sell of imported finished goods. Said minimum price has been set at a Freight on Board
(FOB) rate of US$ 100 per unit of goods.

Regulation of Minister of Industry No. 22 of 2023 on the Utilization of Tariff-Rate Quotas for
Imports of Certain Plastic Raw Materials Based on the Comprehensive Economic Partnership
Agreement Between the Government of the Republic of Indonesia and the Government of
the United Arab Emirates
Enforcement Date: 31 August 2023
Summary
Business actors may perform imports of raw materials in the form of certain plastic
materials (“Raw Materials”) (as categorized under Post-Tariff Chapter 39 under Regulation
of the Minister of Finance No. 87 of 2023 on the Stipulation of Import Duty under the

Comprehensive Economic Partnership Agreement Between the Government of the
Republic of Indonesia and the Government of the United Arab Emirates “Regulation
87/2023”) through the use of the United Arab Emirates’ Tariff-Rate Quotas (“TRQ”).
The utilization of the TRQ during imports of Raw Materials should be undertaken on a firstcome, first-served basis and will apply in the following stages: 1) Stage one: to be
performed without TRQ certification (from 1 September 2023 – 31 December 2024); 2)
Stage two: to be performed through the use of TRQ certification (from 1 January 2025 – 31
December 2023).
Imports of Raw Materials should be covered by certificates of origin (surat keterangan asal)
in accordance with Regulation 87/2023, otherwise, business actors may be subject to the
imposition of most favored nation tariffs.

Decree of the Minister of Finance No. 27/KM.4/2023 of 2023 on the List of Goods Restricted
for Export Based on Regulation of the Minister of Trade No. 21 of 2023 on the Amendment to
Regulation of the Minister of Trade No. 26 of 2021 on the Stipulation of Business Activity and
Product Standards and the Organization of Risk-Based Business Licensing Within the Trade
Sector.
Enforcement Date: 15 August 2023
Summary
Stipulates a list of goods that are restricted for export based on Regulation of the Minister
of Trade No. 21 of 2023, as comprehensively outlined under the Appendix to the Decree.
The list comprises nine types of rubber that span various HS Codes. In the event that any
subsequent regulation is introduced that removes any of the restricted goods from the list
of goods set out under the Appendix, then this Decree will be considered revoked.

Decree of the Minister of Finance No. 28/KM.4/2023 on the Stipulation of Export Prices for
Calculations of Export Duty
Enforcement Date: 1 September 2023
Summary
Stipulates various export prices for calculations of export duty for certain types of exported
goods (i.e. wood and leather products, cacao beans and processed mineral products), as
comprehensively outlined under the Appendix to the Decree. These will be applicable from
1 – 30 September 2023.

Decree of the Minister of Trade No. 1643 of 2023 on Export Benchmark Prices for Mining
Products Subject to Export Duty
Enforcement Date: 1 September 2023 – 30 September 2023
Summary:
A total of 269 Mining Products are featured, along with their corresponding Post Tariffs and
Export Benchmark Prices, as comprehensively listed under the Appendix to the Decree.

Decree of the Minister of Trade No. 1647 of 2023 on the List of Marked Refined, Bleached
and Deodorized (RBD) Palm Olein Products Packaged in Branded Packaging of Net Weights of
Less Than 25 kg
Enforcement Date: 1 September 2023
Summary:
There are 832 local brands and 1832 overseas brands that feature in total, as
comprehensively listed under the Appendix to the Decree, which will apply from 1
September 2023 – 30 September 2023.

Decree of the Minister of Trade No. 1645 of 2023 on Export Benchmark Prices and Reference
Prices for Agricultural and Forestry Products Subject to Export Duty
Enforcement Date: 1 September 2023
Summary:
Three specific product categories are detailed under the Appendix to the Decree, that will
be applicable from 1 September – 30 September 2023, specifically: cacao beans, timber
and leather products. Meanwhile, a reference price of US$ 3,439.72/MT has now been set
specifically for cacao beans.
For more information, see the following Daily Updates: “Export Reference Prices for
Agricultural and Forestry Products Stipulated for September 2023.”

Decree of the Minister of Trade No. 1646 of 2023 on the Reference Price for Crude Palm Oil
Subject to Export Duty and Service Fees at the Public Service Agency for Palm-Oil Plantation
Fund Management
Enforcement Date: 1 September 2023
Summary:
The reference price for Crude Palm Oil (CPO) subject to export duty and service fees at the
Public Service Agency for Palm-Oil Plantation Fund Management (Badan Pengelola Dana
Perkebunan Kelapa Sawit/BPDPKS) public service agency has been set at US$ 805.20/MT
and this reference price will be applicable between 1 September 2023 and 15 September
2023.

Decree of the Minister of Trade No. 1666 of 2023 on Reference Prices for Crude Palm Oil
Subject to Export Duty and Service Tariffs at the General Services Agency of the Palm Oil
Plantation Fund Management Agency
Enforcement Date: 16 September 202
Summary
Stipulates a reference price for Crude Palm Oil (CPO) at the General Services Agency of the
Palm Oil Plantation Fund Management Agency of US$ 798.83/MT, which will be applicable
from 16 – 30 September 2023.

Regulation of the Commodity Futures Trading Supervisory Agency No. 5 of 2023 on
Guidelines for the Prevention of Funding of the Proliferation of Weapons of Mass Destruction
by Futures Brokers, Prospective Physical Traders of Crypto Assets and Physical Traders of
Crypto Assets
Enforcement Date: 7 September 2023
Summary
Futures brokers, prospective physical traders of crypto assets and physical traders of crypto
assets (collectively referred to as “Parties”) are required to identify, assess and understand
various risks concerning the Funding of the Proliferation of Weapons of Mass Destruction
(Pendanaan Proliferasi Senjata Pemusnah Massal – “PPSPM”) in relation to customers,
states or geographical areas, products, services, transactions and distribution channels.
Parties are required to implement the following measures in order to fulfill the abovedescribed mandates: 1) Prepare and produce documentation that addresses PPSPM risk
assessments; 2) Consider all relevant risk factors, as well as adequate levels and types of
risk mitigation that will be applied; and 4) Organize adequate mechanisms capable of
providing information on risk assessments to relevant authorized institutions.
Parties are also required to monitor the application of all policies, supervision and
procedures that they stipulate in terms of PPSPM risk mitigation and must also stipulate indepth measures capable of managing and mitigating risk in cases where higher levels of
risk have been identified.

Regulation of the Commodity Futures Trading Supervisory Agency No. 6 of 2023 on the
Amendment to Regulation of the Head of the Commodity Futures Trading Supervisory
Agency No. 5 of 2017 on the Alternative Trading System
Enforcement Date: 13 September 2023
Summary
Among other changes that have now been introduced under the Amendment, various
provisions that specifically address the alternative trading system have now been
amended, as follows: 1) Approvals for organizers of alternative trading systems
(“Organizers”) may only be issued to futures traders who have fulfilled various
requirements, including having a minimum level of paid-up capital amounting to Rp.40
billion; 2) Organizers must submit selling/purchase price quotations for all derivative
contracts (aside from future contracts and sharia derivative contracts) that are transacted
(ditransaksikan) with the futures exchange through the official website of the futures
exchange in real-time so that they are accessible to the general public; 3) Approvals for
participants in alternative trading systems may only be issued to futures brokers who have
fulfilled various requirements, including having a minimum level of paid-up capital
amounting to Rp. 30 billion and maintaining a level of equity amounting to at least Rp 25
million.

Regulation of the Commodity Futures Trading Regulatory Agency No. 7 of 2023 on
Procedures for the Physical Market Trading of Crude Palm Oil Through Futures Exchanges
Enforcement Date: 15 September 2023
Summary:
The electronic trading of Crude Palm Oil (“CPO”), as facilitated and/or organized by CPO
exchanges (“Physical Market”) through futures exchanges (“Exchanges”) may only be
carried out by Exchanges that have previously been approved by Bappebti as official CPO
exchanges (“CPO Exchanges”). Moreover, physical CPO contracts (“Contracts”) for such
trade encompass contracts that address the following forms of delivery (penyerahan): 1)
Immediate (i.e. CPO is available in storage facilities and/or deliveries will commence within
10 business days of the relevant transaction date); and 2) Delayed (i.e the value of the
relevant transaction collateral has been enclosed and/or deliveries will commence within
60 business days of the relevant transaction date).
The implementation of the Physical Market comprises several phases that participating
trade sellers and buyers (collectively referred to as “Participants”) are required to comply
with, while trade itself should be carried out through the relevant CPO Exchange’s
electronic trading system (“Transaction System”). Overall, the Physical Market phases
break down as follows: 1) Deposits of CPO transaction collateral (“Collateral”); 2) Trade;
and 3) Settlement of trade.
Any disputes that arise during the implementation of a Physical Market should first be
attempted to be resolved through deliberations between the relevant Participants as
disputing parties. However, in the event that deliberations fail to reach a consensus, then
said parties must utilize the dispute resolution facilities that are provided by the relevant
CPO Exchanges.

Transportation and Logistics
Regulation of the Minister of Finance No. 89 of 2023 on Procedures for the Provision of
Government Guarantees in Order to Accelerate the Organization of Infrastructure and
Facilities Relating to the Jakarta – Bandung High-Speed Rail Link
Enforcement Date: 11 September 2023
Summary
This regulation establishes a set of procedures for the provision of government guarantees
aimed at accelerating the construction of infrastructure and facilities for the Jakarta –
Bandung High-Speed Rail Link (Kereta Cepat Jakarta Bandung – “KCJB”). Said guarantees
will be provided to PT. Kereta Api Indonesia (“PT KAI”) by the Minister of Finance, either
independently or in collaboration with PT. Penjaminan Infrastruktur Indonesia (collectively
referred to as “Guarantor”), with the objective of securing additional funding for any
potential cost overruns that may occur under the KCJB project.
Prior to securing a guarantee, PT KAI must first submit an application to the Minister (i.e.
the Director-General of Financing and Risk Management) for a government guarantee and
for the issuance of a guarantee document if said application is approved. Furthermore, PT
KAI is also required to open a sinking fund account within 14 business days of the issuance
of any government guarantee.

It should be noted that a guarantee may only be utilized through the filing of a guarantee
claim with the Guarantor if PT KAI proves incapable of repaying its creditors. Following the
granting of any guarantee claim, the Guarantor reserves the right to be refunded by PT KAI,
which may be fulfilled in stages or as a single transaction, depending on the financial
capacity of PT KAI.

Circular of the Director-General of Sea Transportation No. SE-DJPL 25/2023 on Supervision of
the Implementation of Shipping Registrations and Business Licensing Activities for Sea
Transportation Businesses
Enforcement Date: 4 September 2023
Summary:
The Circular mandates that owners of vessels that take the form of Indonesian legal entities
that engage in foreign investment in the form of joint ventures must comply with three
specific measures, which include: 1) The adjustment of the relevant shareholder
composition in the relevant company’s deeds in order to fulfill provisions that relate to
vessel registration that state that parties that engage in domestic investments as a part of
said joint venture must take the form of: a) National sea transportation companies in which
the entirety of the relevant shares are owned by Indonesian citizens and which engage in
commercial activities; and/or b) Indonesian legal entities in which the entirety of the
relevant shares are owned by Indonesian citizens and which engage in non-commercial
activities (i.e. social activities, tourism, sports-related activities); 2) All vessel registrations
which were performed before 2 February 2021 (i.e. the date of promulgation of Regulation
of the Government No. 31 of 2021 on the Organization of the Shipping Sector) will remain
valid, however, the above-described adjustment of data and information set out under
vessels registrations must be completed and reported to the relevant official registrars and
registrars that complete title transfers (pencatat balik nama).

Circular of the Director-General of Sea Transportation No. SE-DJPL 26/2023 on the
Implementation of the Tokyo MOU Campaign under the Concentrated Inspection Campaign
(CIC) on Fire Safety
Enforcement Date: 5 September 2023
Summary:
The Circular covers the following three areas: 1) Examinations of the seaworthiness and
security of foreign vessels (port state control); 2) The implementation of the Tokyo MoU
Concentrated Inspection Campaign (“CIC”) on Fire Safety; and 3) Examination standards for
inspection officials for the Seaworthiness and Security of Foreign Vessels (Port State
Control – “PSC”), which should be applied to foreign/Indonesian-flagged vessels that
engage in any international sailing.
A total of eight specific measures must be performed by all Port State Controls that work at
every Technical Implementing Unit of the Directorate-General of Sea Transportation during
vessel examinations, including the following: 1) Performance of the CIC on fire safety
during the campaign period (1 September – 30 November 2023) in conjunction with initial
PSC inspections that are based on procedures set out under the Tokyo MoU; 2) Assessment
of safety equipment in relation to fire prevention and adherence to standards that are set
under international provisions; 3) The CIC must only be used internally and should not to
be published and disseminated to any other parties. The CIC can be downloaded via the
following link: http:/ / tinv.cc/cicfiresafetv.

Miscellaneous
Regulation of the National Standardization Agency No. 5 of 2023 on the Fourth Amendment
to Regulation of the National Standardization Agency No. 4 of 2020 on the Conformity
Assessment Scheme for the Indonesian National Standard Within the Services Sector
Enforcement Date: 24 July 2023
Summary:
The conformity assessment scheme (“Scheme”) for the Indonesia National Standard
(Standar Nasional Indonesia – “SNI”) within the services sector features the following
classifications: 1) Management of nature tourism; 2) Laundry processes at hospitals; 3)
Community markets; 4) Hygiene, health, safety and environmental preservation during the
organization of tourism locations and supporting activities; 5) Management of
mountaineering activities; 6) Tourism businesses; and 7) The organization of rehabilitation
services for persons with disorders relating to the use of narcotics, psychotropic substances
and other addictive substances.

The Scheme for the SNI as it applies in relation to the aforementioned matters is
comprehensively elaborated upon under Appendices I – VII to the Regulation.
Regulation of the National Standardization Agency No. 6 of 2023 on the Conformity
Assessment Scheme for the Indonesian National Standard in Relation to Safety Requirements
for Audio/Video Devices and Information and Communications Technology
Enforcement Date: 16 August 2023
Summary:
The Head of the National Standardization Agency has stipulated a conformity assessment
scheme for the Indonesia National Standard (Standar Nasional Indonesia/SNI) in Relation
to Safety Requirements for Audio/Video Devices and Information and Communications
Technology (collectively referred to as “Scheme”), which will be applied during the
implementation of certification processes. The Scheme is comprehensively elaborated
upon under the Appendix to the Regulation.

Directive of the President No. 4 of 2023 on Support for the Organization of the Federation
Internationale De Football Association under 17 World Cup of 2023
Enforcement Date: 19 September 2023
Summary
Broadly speaking, Directive 4/2023 addresses mandates that will apply to various
government ministers, officials and governors of certain provinces across the nation in line
with their respective jurisdictions and that specifically address support for the organization
of the 2023 Federation Internationale de Football Association (“FIFA”) under 17 World Cup
(“2023 FIFA U-17”).
In terms of the various types of facilitation that should be provided by the abovementioned mandated officials in order to support the 2023 FIFA U-17, the following list
highlights certain aspects of said facilitation: 1) Customs/excise and tax facilitation required
for the preparation and organization of the 2023 FIFA U-17; 2) Facilitation of the import
and export of any equipment and goods necessary for the hosting of the 2023 FIFA U-17;
and 3) Facilitation of permits relating to the publication, broadcasting and other
information-technology-related aspects of the 2023 FIFA U-17.

Bill on the Amendment to Law No. 24 of 2000 on International Agreements
Enforcement Date: –
Summary:
The Bill affirms that the House of Representatives (“DPR”) will now have the authority to
complete the ratification of International Agreements through the issuance of Laws.
The ratification of international agreements by Indonesia may be performed by the
president through the issuance of official Regulations of the President or by the DPR
through the issuance of Laws. The DPR will then perform the ratification of international
agreements in cases where said agreements will have a fundamental and widespread
impact on the general public in terms of the state’s finances. Furthermore, ratifications that
are completed by the DPR are also required in relation to international agreements that
require amendments or the formulation of new Laws. However, it should be noted that
DPR ratifications still require presidential approvals and are also subject to optional
consulting processes with the Minister of Foreign Affairs or other relevant ministries.
The Bill also clarifies that ratifications will only be performed in relation to international
agreements that require mandatory ratifications prior to their enforcement. In essence,
international agreements will remain in force and will remain binding on the relevant
parties once the requirements of said agreements have been fulfilled. In such cases,
agreements do not require any ratifications, while their provisions will remain in force and
binding after the signing of agreements or exchanges of diplomatic notes.