National ID Number Replaces NPWP
In an attempt to simplify the tax framework in Indonesia, the Director General of Tax (“DGT”) has issued DGT Regulation No. PER-6/PJ/2024 (“Regulation”) to merge the individual tax ID numbers (Nomor Pokok Wajib Pajak or NPWP) with the national ID (Kartu Tanda Penduduk or KTP) number (called Nomor Induk Kependudukan or “NIK”). The Regulation is the implementing regulation of Minister of Finance Regulation No. 112/PMK.03/2022, as lastly amended by Minister of Finance Regulation No. 136 of 2023.
By using NIK as the primary identifier for tax purposes, it is hoped that it will streamline tax administration, reduce bureaucratic hurdles, and enhance efficiency. This alert will explore the implications of the Regulation, how it will affect taxpayers, and what steps affected taxpayers need to take to adapt to this change.
Regional Competition Bites Q2 2024
We are pleased to present our 2nd Regional Competition Bites for 2024. The second quarter has seen extensive enforcement action, increased merger reviews across a larger number of countries and significant regulatory and policy developments across Southeast Asia.
Strong enforcement against anti-competitive practices and cartelistic conduct has been the highlight of this quarter, including decisions by competition authorities in Indonesia, Singapore, Malaysia, and Thailand. On the merger front, M&A activities have picked up which means more merger notifications and investigations against non-notified mergers, including reviews and investigations of mergers in Singapore, Philippines, and Vietnam. On the policy front, Cambodia has published new competition regulations, while Vietnam's consumer protection law is now in full force.
These developments bode well as the growth of competition law and consumer protection capabilities in the region show no sign of slowing, and regulators here are well-placed to collaborate and leverage one another's expertise. The Rajah & Tann Asia Competition & Antitrust Team remains committed to staying abreast of the dynamic landscape of competition law in the region and stands ready to assist.