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Pkwt bank indonesia
Pkwt bank indonesia





pkwt bank indonesia

GR 34/2021 requires any employers who wish to employ Foreign Workers/ Tenaga Kerja Asing (“TKA”) to first secure Plans for the Utilization of Foreign Workers/ Rencana Pengunaan Tenaga Kerja Asing (“RPTKA”)(Art.34 of 2021 on the Utilization of Foreign Workers (“GR 34/2021”) 3 of 2019 on Procedures for the Submission of Objections to Decisions of the Business Competition Supervisory Commission for the detailed procedure on submitting KPPU objection. However, cases that have been submitted to District Court prior to the enforcement date will be examined and adjudicate upon said objection cases. We note that starting from 2 February 2021, any objections to KPPU decisions must be submitted to the Commercial Court within 14 days of its recipient.1 of 2021 on the Submission of Objections to Decisions of the Business Competition Supervisory Commission to the Commercial Court (“CL 1/2021”) GR 5/2021 provides relief for any foreign investments on technology-based start-ups that are located within special economic zones are permitted to have investment values with a total amount of less than or equal to IDR10Billion, excluding land and building (Art.Investors of certain priority business sectors may be granted the following incentives: (i) fiscal incentives, including tax and customs incentives and (ii) non-fiscal incentives, such as ease in doing business, availability of supporting infrastructure, employment incentives, etc.This regulation stipulates that all business sectors are now open to investment, except some certain business sectors that will remain closed to investment or are reserved for the central government (Art.10 of 2021 on Investment Business Field (“PR 10/2021”) Business licensing at the regional level is implemented by the Investment Unit and the Central One-Stop Integrated Service/ Dinas Penanaman Modal dan Pelayanan Terpadu Satu Pintu (“DPMPTSP”) based on the risk-based business licensing and the utilization of the Online Single Submission (“OSS”) system.

pkwt bank indonesia

The organization of business licensing is implemented to ease the investment and business ecosystem at the regional level, which includes: (i) Risk-based business licensing (ii) Basic business-licensing requirements and (iii) Sectoral business-licensing and ease-of-investment requirements (Art.6 of 2021 on the Organization of Business Licensing at the Regional Level (“GR 6/2021”) The administrative sanctions would be in the following forms: (i) annulment of agreements (ii) ordering the relevant business to terminate any vertical integrations (iii) ordering the relevant businesses to terminate all activities which are proven to have led to monopolistic practices, unfair business competition and/or disservice to the general public (iv) cancellation of mergers or share acquisitions (v) imposition of compensation payment and/or fines at the minimum of IDR 1 billion (Art.GR 44/2021 stipulates that the Commission for the Supervision of Business Competition/ Komisi Pengawas Persaingan Usaha (“KPPU”) may impose administrative actions to business actors that conduct the following violations: (i) involved in any prohibited agreements, such as oligopolies, price-fixing, market division, boycotts (ii) conducting prohibited activities, such as monopolies, monopsonies, market control and (iii) conducting violations related to dominant positions (Art.44 of 2021 on the Implementation of the Prohibition of Monopolistic and Unfair Business Competition Practices (“GR 44/2021”) Each classification will determine the legal documents required by business actors (Art. Risks of business activities are classified into: (i) low risk (ii) medium risk, which consists of medium-low and medium-high and (iii) high risk.GR 5/2021 stipulates that every business actor must fulfill: (i) basic requirements and (ii) risk-based business licensing (Art.5 of 2021 on Organization of Risk-Based Business Licensing (“GR 5/2021”)







Pkwt bank indonesia