The Minister of Trade (MOT) revoked Regulation No. 009/2006 regarding Trading License (SIUP) by issuing, on 4 September, Regulation No. 036/2007 on the same subject matter.
This new regulation provides for matters that were not covered or sufficiently regulated by the old regulation, and revises several of the old provisions. Importantly, the new Regulation shows an attempt to simplify the processing of SIUP applications. The following are some of the features:- Less SIUP types. The new law lessens the types of SIUP to three from the former four, respectively for small, medium and large businesses. The Small SIUP is for businesses of a net worth not exceeding IDR 200 million; the Medium SIUP for businesses of a net worth greater than IDR 200 million but not exceeding IDR 500 million; and the Large SIUP for businesses of a net worth greater than IDR 500 million. The special SIUP for limited liability companies in the old regulation is completely removed. Under the new regulation a limited liability company that has sold 49% of their shares is not obliged to apply for a SIUP as long as their net worth does not exceed IDR 200 million. - One-Stop SIUP Service. The MOT is providing a One-Stop Service by retaining her authority to regulate SIUPs, and by delegating the authority to issue the SIUPs to the Jakarta governor and to regents and mayors in all other areas in Indonesia, who in turn may delegate their authority to the regional officers in charge of trading. For trading companies located in remote areas, the authority may be given to the respective district heads.- Guidance and evaluation. Article 9 of the new regulation imposes on the Directorate General of Domestic Trading the task of providing guidance and evaluating the implementation of the SIUP issuance. We see an attempt here of minimizing deviations from the provisions. Regulation No. 036/2007 came into effect on the date of its issue.
No comments:
Post a Comment