STAMP DUTY LAW

Law Number 13 of 1985 on Documentary Stamp Duty (”Law 13/1985”) is amended by Law Number 10 of 2020 on Documentary Stamp Duty (“Stamp Duty Law”) which was enacted on October 26th, 2020. This Stamp Duty Law shall be effective as from January 1st, 2021. All implementing regulations of Law 13/1985 shall be continued effective unless they are stipulated otherwise in Stamp Duty Law and its forthcoming implementing regulations.

OMNIBUS LAW ON JOB CREATION (UU CIPTA KERJA): AN OVERVIEW

President of Republic Indonesia (“President”) submitted the Omnibus Bill on Job Creation (RUU Cipta Kerja) to the Indonesia’s House of Representative (“DPR”) which has then passed by DPR on October 5th, 2020. Even though it has been passed on October 5th, 2020, UU Cipta Kerja has not taken into effect yet until it is signed by the President and stated in the State Gazette of the Republic of Indonesia. By law, the President is given 30 days as of it was passed by DPR to sign UU Cipta Kerja. Lapse of this 30 days period, UU Cipta Kerja shall automatically be taken into force at any time.

RESTRUCTURING OF INDONESIAN LIMITED LIABILITY COMPANIES: A PROPOSED SOLUTION TO MITIGATE THE ECONOMIC IMPACT OF THE PANDEMIC

The recent Coronavirus outbreak has rapidly developed into a global threat. With the declaration of the COVID-19 as a global pandemic by the WHO, the crippling effects of the outbreak on the economies are unfathomable. The effect of the large-scale social restrictions that limit both individuals’ activities and goods movement have resulted in the temporary closure of businesses and disruption in the operation and supply chains of businesses in Indonesia. As a result, many businesses are currently struggling to survive, dealing with cash-flow deficit and liability problems, while the COVID-19 outbreak remains very much active.

LAYOFF REGULATION IN INDONESIA AMIDST COVID-19 OUTBREAK

Covid-19 outbreak, that has globally widespread since the beginning of 2020 and since the beginning of March 2020 in Indonesia, has slowly triggered economic recession in Indonesia. This economic recession not only worries the companies but also the workers. Layoff is a frightening specter for workers, but, on the other hand is an alternative taken by companies in a bid to make efficiency over the current sluggish economy.

RELAXATION OF LOAN AMIDST COVID-19 OUTBREAK: INDONESIA’S APPROACH TO THE DISRUPTION CAUSED BY THE PANDEMIC

The recent coronavirus outbreak has rapidly developed into a global threat, affecting 199 countries and territories around the world. With the promulgation of the COVID-19 as a global pandemic by the WHO, the crippling effect of the outbreak on the economies are unfathomable. In Indonesia, on March 31st, 2020 President Joko Widodo had declared COVID-19 as public health emergency and imposed large-scale social restriction as regulated under Law Number 6 of 2018 concerning health quarantines with the stipulation of Presidential Decree Number 11 of 2020. The disruption occur as a result of this pandemic has call for the exercise of the concept of force majeure.

EXTENSION OF COVID-19 DISASTER CRISIS STATUS IN THE PROVINCE OF SPECIALIZED CAPITAL REGION OF JAKARTA

Given the development of the COVID-19 outbreak, The Governor of Jakarta Special Capital Region has enacted Decree No 361 of 2020 concerning the Extension of COVID-19 Disaster Crisis Status in the Province of Specialized Capital Region of Jakarta. This decree stipulates the extension of the COVID-19 Disaster Crisis Status of Jakarta Capital Region for 17 (seventeen) days, effective since April 3rd, 2020 until April 19th, 2020, and can be extended if deemed necessary observed from the development of the outbreak.

THE ISSUANCE OF PRESIDENTIAL REGULATION NUMBER 80 OF 2019 CONCERNING THE ACCELERATION OF ECONOMIC DEVELOPMENT IN EAST JAVA

On November 2019, President Joko Widodo issued a Presidential Regulation Number 80 of 2019, Concerning the Acceleration of Economic Development in Gresik – Bangkalan – Mojokerto – Surabaya -Sidoarjo – Lamongan Region, Bromo – Tengger – Semeru Region, As Well As Selingkar Wilis Area And The South-Cross (Lintas Selatan).