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On 8 September 2009 the Indonesian Parliament suddenly moved to approve a new Electricity Bill, which will become the new Electricity Law upon signature by the President
The Governor of Bank Indonesia ("BI"), the Indonesian central bank, has foreshadowed that BI is likely, by the end of September 2011, to issue a new Bank Indonesia regulation ("Regulation") requiring (i) Indonesian exporters, and (ii) Indonesian debtors receiving offshore loans (in a foreign currency) to deposit the proceeds in a domestic bank in Indonesia
On 6 February 2012, the Indonesian Minister of Energy and Mineral Resources ("MEMR") enacted Regulation No. 7 of 2012 regarding the Improvement of Mineral Added Values Through Mineral Processing and Refining ("Regulation 7"
The oil & gas industry in Indonesia has functioned via a production sharing contract ("PSC") regime since the 1960s and has enjoyed a period of relative stability in recent years
In our e-bulletin on 21 September 2011 we noted that Bank Indonesia ("BI") had proposed to issue new regulations requiring (i) Indonesian debtors; and (ii) Indonesian exporters receiving proceeds (in a foreign currency) to deposit such proceeds in a bank in Indonesia
The Indonesian Ministry of Finance (the MoF) has issued Regulation 130PMK.0112011 (the Regulation) which, with effect from 15 August 2011, enables qualifying businesses to apply for a five to ten year tax exemption from Indonesian income tax
