The Indonesian National Work Competency Standards (Indonesian National Work Competency Standards/SKKNI) for the Financial and Insurance Activity Main Category of Insurance, Reinsurance and Pension Funds and Non-Mandatory Social Security Within the Insurance Sector Category have been updated. Previously, 13 competence units were available, however, the new Decree now sets out 57 competence units.

The Minister of Law and Human Rights has now stipulated a list of countries that have been categorized as Calling Visa Countries

the Draft Regulation introduces a number of revisions, which include the enforcement of post-border and border area supervision in relation to certain types of consumer goods, sources of ionizing radiation and nuclear materials

While the forms of collateral that are eligible to be placed by Conventional Commercial Banks (Bank Umum Konvensional "BUK") as collateral for Short-Term Liquidity Loans (Pinjaman Likuiditas Jangka Pendek "PLJP") remain similar to those set under the previous framework, the following additional forms of PLJP collateral have now been incorporated: 1) Bank Indonesia ("BI") Rupiah Securities (Sekuritas Rupiah Bank Indonesia/SRBI); and 2) Fixed assets. In terms of the collateral outlined in point (2), said assets may only be placed as collateral if the respective BUK does not possess any other forms of collateral or does but its value is insufficient to be placed as collateral. In this regard, the minimum collateral value has been set at 200% of the PLJP ceiling.

This edition of ILB explores key aspects of the most recent regulatory framework on the withholding of PPh 21 and PPh 26, including the issuance of proof of withholding, tax notifications and the introduction of the e-Bupot app. We also take a look at the various forms of proof of withholding for different tax scenarios by detailing the relevant forms, requirements and submission timelines.

While a total of 10 forms of DKI Jakarta regional taxes and retribution (collectively referred to as "Regional Levies") have now been consolidated, certain Regional Levies will be enforced on a gradual basis between now and 2025. This gradual enforcement breaks down as follows: 1) For Motorized Vehicle Tax (Pajak Kendaraan Bermotor/PKB) and Motorized Vehicle Ownership Transfer Duty (Bea Balik Nama Kendaraan Bermotor/BBNKB): to be enforced by 5 January 2025; 2) For general services retribution for housing garbage/sanitation, as organized by community associations (rukun warga): to be enforced by 1 January 2025; 3) Retribution for multistory housing unit rental services: to be enforced by 1 July 2024; and 4) Retribution for garbage end process services: to be enforced by 1 April 2024.

Two schemes that address the organization Carbon Capture and Storage ("CCS") have now been introduced, which break down as follows: 1) CCS that is organized based on cooperation contracts for mining exploration and exploitation activities (Kontrak Kerjasama/KKS), as undertaken by Contractors that have entered into KKS in order to engage in mining exploration and exploitation activities; and 2) CCS that is organized based on permits for engagement in Injection Target Zone (Zona Target Injeksi/ZTI) exploration in Carbon Storage License Areas (Wilayah Izin Penyimpanan Karbon/WIPK) or permits for engagement in carbon injection and storage, as undertaken by Permit holders.

Broadly speaking, the organization of Carbon Capture comprises two phases, i.e. the planning and implementation phases. The Carbon Capture planning phase includes the drafting and submission of Carbon Capture development plans ("POD") that break down as follows: 1) POD I: applicable to the initial development of Carbon Capture facilities; and 2) POD II: applicable to the further development and advancement of Carbon Capture facilities or the submission of adjustments to POD I.

Training and education programs that address Crimes of Sexual Violence (Tindak Pidana Kekerasan Seksual/TPKS) prevention ("Prevention") and TPKS mitigation ("Mitigation") efforts (collectively referred to as "Training") should be organized in order to ultimately deepen understanding and develop the various competencies and skills that are required in order to promote Prevention and Mitigation measures. In this regard, the following parties are eligible to enroll in Training: 1) Law enforcement officials (Aparat Penegak Hukum/APH); 2) Government service personnel; and 3) Service personnel working at community-based service provider institutions.

While maintaining the core elements that relate to buybacks of shares, as issued by public companies ("Buybacks"), a mandatory Buyback completion period of 12 months has now been set from the date upon which the relevant public companies ("Companies") General Meetings of Shareholders (Rapat Umum Pemegang Saham/RUPS) approve Buybacks. In this regard, Buybacks are prohibited from being initiated during the occurrence of any significant market fluctuations. However, terminations of Buybacks that are initiated prior to their completion are now permitted, provided that prior notifications and announcements are made to the Financial Services Authority (Otoritas Jasa Keuangan/OJK) and the general public respectively.