PP 8/2021 classifies companies that meet the criteria of Micro and Small, namely in the form of a Company and the latest form, namely Sole Proprietorship.

Previously, the regulation regarding the prohibition of goods to be exported and imported was regulated separately, with enactment of the MoT Reg 18/2021, the regulation on the prohibition of goods to be exported and imported was integrated into one regulation, hence it is much more effective, also with the enactment of MoT Reg 19/2021 which regulate the export business licensing process on online basis, will change the process and dynamics of export business licensing to be more faster and efficient.

This ARMA update will discuss essential points from Law 7/2021 including the key changes from the previous laws and regulations, among others income tax, VAT, carbon tax, general provisions of taxation, etc.

One of the major changes that made by the enactment of Law No. 11 of 2020 on Job Creation (known as Omnibus Law) is concerning the investment line of business. Omnibus Law through its implementing regulation is massively changing the regime of the line of business for investment, mostly relaxing some of the restrictions under previous laws and regulations.

On 5 October 2020, the House of Representative passed the Job Creation Law (known as “Omnibus Law”). The Omnibus Law is expected to enhance the ease of investment in Indonesia through some amendments on various laws.