As countries around the world work to tackle the spread of Covid-19, the threat of business interruption has become real, throwing arrangements into disarray, disrupting workforce, and upsetting the global economy.
At home, the government has begun issuing various countermeasures and relief for businesses and public alike. The following is a summary of legislation and government updates issued to navigate the Covid-19 outbreak. Our team continues to assess developments, which will be issued in the weeks to come. Subscribe to receive our updates here.
BANKING AND FINANCE
Covid-19 Stimulus Package: OJK’s Countercyclical Policy to Relieve Financially Distressed Debtors affected by the Pandemic
OJK, Indonesia’s Financial Services Authority, issued a national economic stimulus package to combat the impact of Covid-19. We take a closer look at the stimulus, which are intended to push the banking industries’ intermediary function, stabilise the financial system and support Indonesia’s economic growth amidst the outbreak. Click here to read more.
Covid-19, Force Majeure and How it Could Impact Your Contract
In this brief, we provide a quick overview on whether the Covid-19 outbreak can be classified as a force majeure event. Click here to read more.
Dispute Resolution in the Times of Corona
As the outbreak is showing no sign of slowing down, many courts in Indonesia have begun restricting physical appearances. Some have even moved their hearings to a virtual hearing, either via teleconference or the e-litigation system. Click here to read more.
TAX AND CUSTOMS
Government Issues More Tax Policies in Response to Covid-19
On 31 March 2020, the government issued more tax policies and incentives. While most of these are aimed at protecting businesses from the impact of Covid-19, the government also taps into the potential fiscal revenue of e-commerce transactions by introducing the electronic transaction tax. Click here to read more.
Ibrahim Sjarief Assegaf
D (62) 21 2555 7825
D (62) 21 2555 7801
D (62) 21 2555 7883
Yogi Sudrajat Marsono
D (62) 21 2555 7812
D (62) 21 2555 7816
D (62) 21 2555 7861
AHP Client Alert is a publication of Assegaf Hamzah & Partners. It brings an overview of selected Indonesian laws and regulations to the attention of clients but is not intended to be viewed or relied upon as legal advice. Clients should seek advice of qualified Indonesian legal practitioners with respect to the precise effect of the laws and regulations referred to in AHP Client Alert. Whilst care has been taken in the preparation of AHP Client Alert, no warranty is given as to the accuracy of the information it contains and no liability is accepted for any statement, opinion, error or omission.