AHP Business Law Forum puts the 'Omnibus Law' under The Microscope
On Thursday, 5 March 2020, Assegaf Hamzah & Partners ("AHP") held its second Business Law Forum. The topic of this year's forum is centred around the 'Omnibus Law', which has been heralded by the government as a breakthrough for economic growth.
"We have to see the 'Omnibus Law' as a chance to transform Indonesia's economy. If the government is to follow the traditional route, it could take years to synergise the regulations of the central government and the local government. From the Jobs Creation bill, the main consideration will be equal rights and social justice, as well as legal certainty, ease of doing business, equality and independence," Mr. Airlangga Hartarto, the Coordinating Minister of Economic Affairs, said during the panel discussion.
The panellists included Chairman of Investment Coordinating Board, Mr. Bahlil Lahadalia; Chairman of the Indonesian Chamber of Commerce and Industry, Mr. Roslan Roeslani; and Founding Partners of AHP, Mr. Ahmad Fikri Assegaf and Mr. Chandra M. Hamzah. Throughout the two hour-long discussion, the panellists discussed key points from the ‘Omnibus Law' bill, including on investment, human resources' training and licensing simplification.
The forum was attended by approximately 400 attendees from various industries and included companies from various commercial and industrial sectors, legal experts, representatives from government institutions, local and international banks and financial institutions. As the bill was delivered only about a month ago to the House of Representatives, many came armed with questions as to how the bill would affect them and their business. The attendees were also requested to answer several questions regarding the 'Omnibus Law', where 56% agreed that the bill gives a solution to existing issues, 46% would like to submit their aspirations in the discussion for the bill and 60% views that the 100-day target is too short to substantively deliberate and ratify the bill.
While there is no denying that the stage is set for Indonesia to revamp its legal landscape, Mr. Hartarto stressed that the bill will not centralise the issue of investment administration from the local governments to the central government. Instead, the bill has been drafted so as to harmonise overlapping regulations.The panel discussion was followed by two parallel sessions on tax and fraud. The tax session's speakers included Justice of the Supreme Court, Mr. Harry Djatmiko; Expert Staff of the Minister of Finance for Tax Compliance, Mr. Yon Arsal; and the session was moderated by Head of Tax, Trade & Customs Practice Group of AHP, Mr. Wibowo Mukti.
Meanwhile, the fraud session's speakers included President Commissioner of PT Bank BTPN Syariah, Mr. Kemal Azis Stamboel; Head of Fraud & Forensics Investigation Practice Group of AHP, Mr. Amien Sunaryadi; Head of Employment Practice Group of AHP, Mr. Ahmad Maulana; and the session was moderated by Senior Associate of AHP's Dispute Resolution practice group, Mr. Binziad Kadafi.
PANEL DISCUSSION - Omnibus Law: Government's Breakthrough for Economic Growth?
PARALLEL SESSIONS 1 - Omnibus Law on Tax: A Solution or New Problem?
PARALLEL SESSIONS 2: Prevention and Handling of Fraud in Companies to Improve Business Climate