Through Energy and Mineral Resource Ministry Regulation No. 19/2018 on the Procedures for Determining Benchmark Prices of Metal and Coal Sales as well as through Energy and Mineral Resource Ministry Regulation No. 1395 K/30/MEM/2018 on the Selling Price of Coal for the Electricity Supply for the Public Interest the Indonesian government confirmed a new set of rules in the coal mining sector, specifically regarding coal that is sold domestically under the domestic market obligation.
11 October 2019 (closed)
USD/IDR (14,139) -18.00 -0.13%
EUR/IDR (15,578) +16.98 +0.11%
Jakarta Composite Index (6,105.80) +82.16 +1.36%
The Business Columns section of Indonesia Investments provides in-depth columns that exhibit an analysis regarding subjects that are both important for understanding the Indonesian business climate and have high news value in the current state of Indonesia's economy. As a whole these columns should provide the reader a thorough and detailed picture of multiple Indonesian business sectors and be a source of ideas or inspiration to invest - or not to invest - in specific sectors of the Indonesian economy.
On February 8, 2018, the Minister of Energy and Mineral Resources (Ignatius Jonan) officially revoked the obligation for companies in the Oil & Gas sector to obtain a MIGAS Recommendation for its foreign workers. By issuing Regulation number No. 6 of 2018 concerning the Revocation of the Minister of Energy and Mineral Resources Regulation, Minister of Mining and Energy Regulation and Decree of the Minister of Energy and Mineral Resources concerning Oil & Gas Business Activities ("Regulation ESDM 6/2018") the Minister officially revoked the Ministry of Energy and Mineral Resources Regulation No. 31 of 2013 on the Provisions and Procedures for the Use of Foreign Workers and the Development of Indonesian Workers active in the Business Field of Oil & Gas ("Regulation ESDM 31/2013).
Concerns over a trade war are rising as the European Union (EU) plans to impose a 25 percent retaliatory import tariff on various US products, ranging from clothes to motorcycles, if US President Donald Trump indeed goes ahead with his plan to impose a 25 percent import tariff on steel imports and a 10 percent tariff on aluminum imports.
Recently, the Ministry of Finance has issued Regulation Number 202/PMK.010/2017 of 2017 on Implementation of Income Tax Treatment Based on International Tax Treaties (Regulation 202/2017). Regulation 202/2017 supersedes the Ministry of Finance Regulation Number 157/PMK.010/2015 and its amendment number 5/PMK.010/2017. In this column we discuss the income tax treatment for foreigners and Indonesians under the new Regulation 202/2017.
The views expressed in these business columns are the views of the authors or the interviewed persons only and therefore do not necessarily reflect the views of Indonesia Investments. The authors are free to ventilate their opinions about the Indonesian business climate. Facts presented in these columns are the result of the author's own research or indicated sources, read disclaimer.