EuroCham Finance, Tax, and Investment Working Group Webinar on The New Era of Transfer Pricing in Indonesia
In response to the issuance of the Minister of Finance Regulation No. 22/2020, which is a new ruling related to procedures for implementing the transfer price agreement (Advance Pricing Agreement / APA), the EuroCham Finance, Tax, and Investment Working Group organized a webinar entitled, “The New Era of Transfer Pricing in Indonesia”. This webinar was chaired and moderated by Omar Abdulkadir (Taxation Services Advisor at PwC Indonesia & EuroCham Head of Finance, Tax, and Investment Working Group). Two speakers were invited by the Group to present, namely Iwan Hoo (the Head of Transfer Pricing at KPMG) and Prawira Atmadja (CFO at BASF, EuroCham Board, and CFO Club Board Member). The webinar was attended by more than 80 participants to mainly serve as a platform to share updates on changes in the regulations and discuss the potential impact for companies who are struggling with the defense of their transfer pricing compliance. EuroCham will monitor these new regulations and continue to provide updates regarding its implementation.
EuroCham met the Ministry of Trade on 8 August 2020. The meeting aims to exchange updates related to the upcoming implementation of the Ministry of Trade Regulation No. 50 of 2020 on Trading through Electronic System that will be fully effective in November 2020. The meeting was chaired by Mr. Veri Anggrijono (DG for Consumer Protection and Compliance) and was also participated by Mr. Ojak Simon Manurung (Director for Circulated Goods and Services), Ms. Nina Mora (Director for Business Guidance and Distribution Actors), and Ms. Chandrini Dewi, (Secretary of the Directorate General).
Based on the meeting, the Ministry of Trade highlighted the need for compliance to sectoral regulations to participate in e-commerce business to anticipate violations to the consumer’s rights. The Ministry of Trade hopes that e-commerce businesses can boost exports and create a level playing field between online and offline trading. Furthermore, it also hopes to support the growth of SME businesses. The Ministry of Trade is regulating the licensing of trading through an electronic system to ensure that customers rights are protected. The DG Consumer Protection is now working with platforms to have them provide data on the merchants to implement the Trade Law, Article 65. The Ministry also hopes that EuroCham can support in the dissemination of the Minister of Trade Regulation No. 50 of 2020 prior to its implementation.