Business Media Selected for You: June 2018
04 July 2018
Government to issue implementing regulation for hiring foreign employees
The Ministry of Manpower will soon issue an implementing regulation to Presidential Regulation 20/2018 which reduces the administration required to hire foreign employees. Presidential Regulation 20/2018 requires employers to facilitate Indonesian language training for foreign employees.
Government cuts tax for small and medium enterprises (SMEs) to 0.5%
Effective 1 July 2018 and pursuant to Government Regulation 23/2018, income tax for SMEs has been reduced from 1% to 0.5% in order to support SME business development.
Rice players concerned over new rule
Ministry of Trade Regulation 59/2018, effective 25 May 2018, requires rice traders/importers/packagers to clearly label rice packages with rice category, milling degree, broken grain content, net weight, and packaging date, amongst others. High standards for 'premium' and 'medium' quality rice have also been stipulated in order to increase product quality. Violation of the regulation may result in products being taken off the market and revocation of operating licenses.
Bank Indonesia (BI) helps boost property business
BI expects introduce loan-to-value (LTV) relaxation and other policies to boost the property sector. This policy appears to be aimed at aiding millennials purchase homes and to lure investors.
Government sets up Free Trade Agreement (FTA) centres to promote agreements
The Ministry of Trade has set up FTA centres in Jakarta, Surabaya, Bandung, Medan, and Makassar facilitating the distribution of FTA information to businesses pursuant to Presidential Regulation 79/2017. The primary aim is to increase Indonesian exports by educating Indonesian businesses on FTA provisions.
Compiled from the Jakarta Post.
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