Event Reports

On 5 December 2019, EuroCham Finance, Tax, and Investment Working Group held a meeting, which was hosted by PwC, to exchange updates on the new Accounting Standards in Indonesia. Mr. Irwan Lau of PwC acting as speaker on the session. The new Statement of Financial Accounting Standards (PSAK) which has been ratified by the Indonesian Financial Accounting Standards Board (DSAK-IAI), covers: Financial Instruments (PSAK 71), Revenues from Contracts with Customers (PSAK 72), and Lease (PSAK 73). These new standards are as a result of adoption of the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). PSAK 71 is adopted from IFRS 9: Financial Instruments, PSAK 72 is adopted from IFRS 15: Revenue from Contracts with Customers, and PSAK 73 is adopted from IFRS 16: Leases. The overall meeting and discussion were chaired and moderated by the Head of the Working Group, Mr. Omar Abdulkadir of PwC, who also provided brief tax policy updates.

On 4 December 2019, the EuroCham Transport & Logistics held a meeting and invited the Mr. Saiful Bachri (Deputy Director of Land Cargo Transportation, Directorate General of Land Transport, Ministry of Transportation) as a speaker to provide a socialization about implementation of the Ministry of Transportation Regulation No.PM 60/2019 on Organization of Cargo Transportation by Using Land Motorized Vehicles. This meeting was aimed to provide better understanding regarding new requirements that have to be adopted by companies, at the latest one year after the issuance of this regulation. This meeting discussed various aspects on land cargo transport including types of cargo transport allowed to operate, requirements for types of vehicles, drivers and crews, logistics and automotive companies, cargo document, land freight tariff and subsidy. The overall discussion of this meeting was moderated by Mr. Marco Pietsch from Logwin Air + Ocean and Mr. Jop Patinggi from a. hartrodt, as the Head and Deputy Head of the Working Group.