While the newly applied 12% value-added tax (Pajak Pertambahan Nilai "PPN") rate remains set to take effect in 2025, this new framework now includes several schemes for its application. The first scheme applies to luxury goods (e.g. motorized vehicles and other items subject to the luxury goods sales tax), to which the 12% PPN rates will be applied based on the relevant sales prices or import values. Apart from the abovementioned luxury goods, this framework clarifies that non-luxury goods will also be subject to the 12% PPN rates. However, the relevant import values, sales prices, or compensation will first be multiplied by 11/12 before the application of the PPN rates, resulting in a final PPN tariff similar to the previous 11% PPN rate.

Transitional provisions should ensure continuity as authority shifts from the Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi "Bappebti") to the Financial Services Authority (Otoritas Jasa Keuangan "OJK"). All existing licenses, approvals and registrations issued by Bappebti will remain valid, while pending applications will continue to be processed by the OJK. Moreover, organizers must secure OJK approvals for any previously unapproved activities within one month of enforcement of the new framework. It should be noted that the existing traded asset lists and anti-money laundering, combating the financing of terrorism and counter-proliferation ("AML, CFT and CPF") programs will also remain in effect until the new OJK Regulation is fully implemented, hopefully ensuring a seamless transition and regulatory alignment.

The Draft Regulation provides a clearer definition of the Newly Developed Drugs (Obat Pengembangan Baru "OPB") concept and outlines five main stages: 1) Drug discovery and development, which involves the identification and development of potential therapeutic compounds; 2) Non-clinical trials, including pharmacology, toxicology studies and good laboratory practices; 3) Four-phase clinical trials to evaluate safety and efficacy; 4) Drug registration processes; and 5) Post-market monitoring, which encompasses vigilance, market surveillance, regulatory inspections and licensing establishment.

The scope of permissible business activities for commercial banks and sharia banks has broadened significantly under the new regulations, specifically in terms of equity investments. Said banks are now allowed to participate in equity in any company or institution that supports the banking sector, including: 1) Companies that use information technology (IT) in order to produce financial products; 2) Companies that primarily support banking business operations; 3) Companies with business characteristics that support the banking industry; 4) Companies located outside Indonesia.

Natural medicine industries ("Industries") that meet certain criteria will be subject to the mandatory application of the Risk-Management Program (Program Manajemen Resiko "PMR") at their facilities. In this regard, said Industries must prepare and submit a total of eight sets of quality data documents to the BPOM. Said documents should include data on the following areas: 1) Implementation of quality control culture; 2) Self-inspections and/or internal audits; 3) Batch and recurring deviation rates; 4) Effectiveness of change controls; and so forth.

Previously, Work Plans and Funding Budgets (Rencana Kerja dan Anggaran Biaya "RKAB") that were rejected could only be resubmitted once. Now however, if an RKAB is rejected after its resubmission, then it can be resubmitted in line with new conditions: 1) For the exploration phase: submissions can be made during the subsequent calendar year; 2) For the production-operation phase: submissions can be made the following year for a planned three-year period of mineral and coal mining activities.

Administrative sanctions will now be imposed upon any license and approval holders who fail to comply with their obligations. Sanctions range from written reprimands to temporary activity suspensions and, ultimately, license revocations. License holders must rectify their violations within the timeframe of three consecutive written reprimands, each of which will be sent within seven working days. Moreover, any failure to do so will result in a temporary suspension. Finally, if no improvements are made within 14 days, then the relevant water utilization license will be revoked.

Adjustments have been made to trading times, specifically pre-opening, pre-closing and post-closing sessions. In the pre-opening session, sell offers and/or buy requests are entered between 08:45:00 and 08:57:59, with restrictions on the modification or cancellation of orders commencing at 08:56:00, while JATS matching orders at the opening prices will occur between 08:58:00 and 08:59:59. During the pre-closing session, sell offers and/or buy requests are entered from 15:50:00 until 15:59:59, with JATS processing price formation being set randomly between 15:58:00 and 15:59:59. During the post-closing session, Members can place orders at the closing price from 16:02:00 until 16:15:00, while JATS will match orders continuously.

The payment of deposit insurance premiums, membership contributions and/or fines for any underpayments and/or late payments of premiums (collectively referred to as "Applicable Fees") by conventional and sharia commercial banks and sharia business units, as well as conventional and sharia rural banks (collectively referred to as "Banks"), should be completed annually in line with the following two periods: 1) Period 1: 1 January - 30 June (deadline of 31 January set); and 2) Period 2: 1 July - 31 December (deadline of 31 July set). Moreover, the list of financial institutions capable of facilitating Applicable Fee payments for conventional rural banks and sharia rural banks has now been expanded to include a total of six conventional and sharia banks.

The Provincial Government of the Special Capital Region of Jakarta ("Daerah Khusus Ibukota Jakarta "DKI Jakarta") has stipulated a provincial minimum wage (Upah Minimum Provinsi "UMP") of Rp. 5,396,761 per month for 2025, which represents an increase of 6.5% over the DKI Jakarta UMP for 2024. The 2025 UMP comes into force on 1 January 2025 throughout the province of DKI Jakarta and will apply to all employees who have worked for a company for a tenure of less than one year.