INVESTMENT COORDINATING BOARD OF REPUBLIC OF INDONESIA COPY OF REGULATION OF INVESTMENT COORDINATING BOARD OF REPUBLIC OF INDONESIA NUMBER 13 OF 2017

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1 INVESTMENT COORDINATING BOARD OF REPUBLIC OF INDONESIA COPY OF REGULATION OF INVESTMENT COORDINATING BOARD OF REPUBLIC OF INDONESIA NUMBER 13 OF 2017 CONCERNING GUIDELINES AND PROCEDURES OF INVESTMENT LICENSING AND FACILITY BY THE GRACE OF GOD ALMIGHTY HEAD OF INVESTMENT COORDINATING BOARD OF REPUBLIC OF INDONESIA, Considering : a. that in order to implement the Presidential Regulation Number 91 of 2017 concerning Accelerated Implementation of Business Licensing, it has been conducted evaluation of various legal basis of the implementation of the Business Licensing process; - 1 -

2 b. that regulation of Investment Coordinating Board in relation with investment licensing and nonlicensing services needs to be adjusted to the dynamics of developments of legislations; c. that based on consideration as referred to in point a and point b, it is necessary to establish a Regulation of Investment Coordinating Board on Guidelines and Procedures of Investment Licensing and Facility; In view of : 1. Law Number 25 of 2007 concerning Investments (State Gazette of the Republic of Indonesia of 2007 Number 67, Supplementary State Gazette of the Republic of Indonesia Number 4724); 2. Presidential Regulation Number 90 of 2007 concerning Investment Coordinating Board as amended by Presidential Regulation Number 86 of 2012 concerning Amendment to the Presidential Regulation Number 90 of 2007 concerning Investment Coordinating Board (State Gazette of the Republic of Indonesia of 2012 Number 210); 3. Presidential Regulation Number 97 of 2014 concerning Implementation of One Stop - 2 -

3 Integrated Service (State Gazette of the Republic of Indonesia of 2014 Number 221); 4. Presidential Regulation Number 91 of 2017 concerning Accelerated Implementation of Business Licensing (State Gazette of the Republic of Indonesia of 2017 Number 210); HAS DECIDED: To stipulate : REGULATION OF INVESTMENT COORDINATING BOARD CONCERNING GUIDELINES AND PROCEDURES OF INVESTMENT LICENSING AND FACILITY. CHAPTER I GENERAL PROVISIONS Article 1 In this Board Regulation meant by: 1. Investment is any form of investing activities, either by Domestic Investor or Foreign Investor, to conduct business in the territory of the Republic of Indonesia. 2. Investor is an individual or corporation conducting Investment, which can be either Domestic Investor or Foreign Investor

4 3. Domestic Investors are Indonesian citizens, Indonesian corporations, the state of the Republic of Indonesia, or any region conducting Investment in the territory of the Republic of Indonesia. 4. Foreign Investor is an individual foreign citizen, foreign corporation, and/or foreign government conducting Investment in the territory of the Republic of Indonesia. 5. Domestic Investment, hereinafter referred to as PMDN, is the activity of investing to do business in the territory of Republic of Indonesia by Domestic Investor using domestic capital. 6. Foreign Investment hereinafter referred to as PMA, is the activity of investing to conduct business in the territory of the Republic of Indonesia by Foreign Investors, either using fully foreign capital or joining with Domestic Investor. 7. Investment Coordinating Board, hereinafter referred to as BKPM, is a non-ministerial Government Institution responsible for investment, led by a Head who is under and directly responsible to the President

5 8. Mandate is the delegation of authority from higher body and/or government official to a lower body and/or governmental official with responsibility and accountability remain with the provider of the mandate. 9. One Stop Integrated Services in the Field of Investment, hereinafter referred to as PTSP, is a Licensing and Non-licensing activity based on the Mandate of Institution or Agency with by Licensing and Non-Licensing authority the management process of which starts from the application phase until the issuance of documents conducted in one place. 10. Central PTSP in BKPM is Investment-related Services being the authority of the Government held in an integrated manner in single process starts from the application phase until the completion of the service product in one place in BKPM. 11. Business Licensing is the approval required for Businessman to start and run the business and is granted in the form of consent set forth in the form of letter/decree or checklist

6 12. Licensing is any form of approval to undertake an Investment issued by the Central Government, Regional Government, Free Trade Zone Operator and Free Port, or Administrator of Special Economic Zone, which has authority in accordance with the provisions of the legislations. 13. Investment Facility is any form of fiscal and nonfiscal incentives as well as ease of Investment services, in accordance with the provisions of legislations. 14. Starting Production/Operation is time when Investment companies both PMA and PMDN are ready to carry out manufacture of goods and/or provide services before the sale transaction. 15. Starting Construction Activities is the start of physical work planning in the form of technical planning related to business activities. 16. Investment Registration is a form of Government approval which constitutes principle permit as the basis of issuance of Licensing and granting of Investment Facilities

7 17. Business License is a mandatory license for a company to start production/operation, unless otherwise provided by legislations. 18. Expansion License is a Business License that must be obtained by a company to start production for the implementation of business expansion, especially for industrial sector. 19. Representative Office of Foreign Company, hereinafter referred to as KPPA, is an office led by an individual Indonesian citizen or a foreign national appointed by a foreign company or a foreign joint-venture overseas as its representative in Indonesia. 20. Representative Office of Foreign Trading Company, hereinafter referred to as KP3A, is an office led by an individual Indonesian citizen or a foreign national appointed by a foreign trading company or a foreign joint-venture overseas as its representative in Indonesia. 21. Representative Office of Foreign Construction Business Services is a corporation established by law and domiciled in a foreign country, having a representative office in Indonesia, and is equalized - 7 -

8 to a Limited Liability Company engaged in construction services business. 22. Representative Office of Foreign Oil and Gas Company hereinafter referred to as KPPA Migas is an office led by an individual Indonesian citizen or a foreign national appointed by a foreign company or a foreign joint-venture overseas as its representatives in Indonesia engaged in oil and gas subsector. 23. Decree of Head of Investment Coordinating Board on behalf of the Minister of Finance concerning the granting of facilities on the import of machinery/capital goods and goods and materials is the granting of import duty facility on the import of machinery/goods/capital goods as well as goods and materials for Investment. 24. Decree of Head of Investment Coordinating Board on behalf of the Minister of Finance concerning the granting of exemption or relief of import duty and/or exemption of value added tax on the import of goods for Coal Mining Work Contract and Work Agreement is the granting of facilities of exemption or relief of import duty and/or - 8 -

9 exemption of value added tax on import of goods for Coal Mining Work Contract and Work Agreement. 25. Company Management is the board of directors listed in the Articles of Association/Deed of Establishment or the amendments that has secured approval/notification from the Minister of Justice and Human Rights for a Limited Liability Company or in accordance with the provisions of the legislations for other than Limited Liability Company. 26. Construction is the establishment of a new company or factory to produce goods and/or services. 27. Expansion is the development of an existing company or plant including the addition, modernization, rehabilitation, and/or restructuring of the means of production including machinery for the purpose of increasing the quantity, type, and/or quality of the products. 28. Machineries are any engine, machinery, plant installation equipment, devices or tools, either - 9 -

10 installed or dismantled, used for industrial construction or expansion. 29. Goods and Materials are all goods or materials, regardless of the type and composition, used as materials or components to produce finished goods. 30. Electric Power Generation Industry is the activity of producing and providing electrical power for public interest by any corporation doing business in the field of electricity supply, excluding transmission, distribution, and electric power supporting business. 31. Corporation in the Field of Electricity is any legal entity that could be in the form of a State-Owned Enterprise, Regional-Owned Enterprise, private enterprise incorporated in Indonesia, and cooperatives, engaged in the electricity sector, established in accordance with the legislations. 32. Coal Mining Concession Work Contract or Cooperation Agreement Contractor, hereinafter referred to as Contractor, is a corporation conducting mineral or coal mining business, for PMA or PMDN

11 33. Capital Goods for Electricity Sector, hereinafter referred to as Capital Goods, are machineries, equipment and plant equipment, either installed or dismantled, excluding spare parts used for maintenance in business activities by a Corporation. 34. Import is the activity of bringing in goods into Indonesian customs area. 35. Transfer is the transfer of rights, transfer of assets, changes in the use of capital goods or machinery for other activities outside the business, exported, or removal from the assets of any company. 36. Transfer in Mining Sector is the transfer of rights, transfer of assets, sale, exchange, grant, or removal from the assets of any company. 37. Re-Export is the disposal of imported goods exexempted from import duty and/or exempted from Value Added Tax for Coal Mining Concession Work Contract or Work Agreement from Customs Area according to customs regulation in export sector. 38. Destruction is the activity of eliminating the form and origin of a goods into an element or a

12 compound that cannot be formed into a product of origin. 39. Force Majeure is a situation such as fire, natural disaster, riots, warfare or others that occur beyond human capabilities. 40. Taxpayer is any investing corporation either incorporated or not. 41. Certain Business Fields with respect to the Provision of Tax Allowance, hereinafter referred to as Certain Business Fields, are business fields in the sector of economic activity with high priority on a national scale. 42. Certain Regions are regions that are economically potentially viable. 43. Tax Allowance is an income tax facility for Investment in Certain Business Fields and/or in Certain Regions. 44. Technical Ministries are sector foundering ministries. 45. Pioneer Industry is an industry that has broad linkages, provides high added value and high externalities, introduces new technology, and has strategic value for the national economy

13 46. Tax Holiday is a Corporate Income Tax Reduction Facility for the main activities of the pioneer industry. 47. Importer Identity Number hereinafter referred to as API is an identifier as importer. 48. Foreign Worker Employment Plan, hereinafter referred to as RPTKA, is a plan for the hiring of foreign workers in certain positions made by foreign employers for a certain period of time authorized by the Minister in charge of employment or appointed Officer. 49. Permission to Employ Foreign Workers, hereinafter referred to as IMTA, is a written permission granted by the Minister in charge of employment or appointed Officer to foreign worker s employer. 50. Electronic Information Service and Investment Licensing System, hereinafter referred to as SPIPISE, is electronic system of Licensing and Non-licensing service Integrated between BKPM with Ministries/LPNK with Licensing and Nonlicensing authority, Free Trade Area and Free Ports, Special Economic Zone Administrators, Provincial DPMPTSP, Regency/Municipal DPMPTSP,

14 and PTSP Organizer Agency in the Field of Investment. 51. Access Right is right granted by SPIPISE Manager to SPIPISE users who already had user identity and access code to use SPIPISE. 52. Company Folder is a means of storing corporate documents in digital form provided within the BKPM licensing system (SPIPISE). 53. Online Single Submission is an electronic system servicing the entire business licensing under the authority of ministers/heads of agencies, governors and regents/mayors that must be conducted and made as single reference in the implementation of the Business Licensing. 54. Business Expansion for Investment in Industrial Business Sector is the increase of production capacity for the same 5 (five) digit Classification of Indonesian Business Class (KBLI) as stated in Industrial Business License. 55. Expansion of Industrial Estate, hereinafter referred to as Area Expansion is the increase of the industrial estate area from the extent of land as stated in the Industrial Zone Business License

15 56. Company Merger is the incorporation of two or more companies into one company that will forward all activities of the merged company. 57. Central Government is the President of the Republic of Indonesia who holds the governance power of the state of the Republic of Indonesia assisted by the Vice President and Ministers as referred to in the 1945 Republic of Indonesia Constitution. 58. Regional Government is the regional head as an element of the regional administration which leads the execution of government affairs being the authority of the autonomous regions. 59. Investment and One Stop Integrated Service of Province, Regency/Municipality, organizing Investment affairs and one-stop integrated services, hereinafter referred to as Provincial DPMPTSP, Regency/Municipal DPMPTSP, is the element of assistant of regional head for the implementation of provincial, regency/city government in the field of investment in the provincial government, regency/municipal governments

16 60. Free Trade Zone and Free Port, hereinafter referred to as KPBPB, is an area within the territory of the Unitary State of Republic of Indonesia separated from the customs area so that it is free from the imposition of customs duties, value added tax, sales tax on luxury goods, and excise duty. 61. Special Economic Zone, hereinafter referred to as KEK, is a region with certain boundaries within the territory of the Republic of Indonesia which is determined to operate economic functions and obtain certain facilities. 62. Industrial Estate is an area where the concentration of processing industry activities is equipped with infrastructure, facilities and other supporting facilities provided and managed by industrial companies. 63. National Tourism Strategic Area, hereinafter referred to as KSPN, is an area that has the main function of tourism or has potential for national tourism development which has important influences in one or more aspects, such as economic, social and cultural growth, natural

17 resources empowerment, environmental carrying capacity, and defense and security; 64. Investment Activity Report, hereinafter referred to as LKPM, is a report on the development of Investment realization and constraints faced by investors that must be submitted periodically. 65. Classification of Indonesian Business Field Standard, hereinafter referred to as KBLI, is the grouping of any economic activity into the classification of business field. 66. Overseas Indonesian Community Card, hereinafter referred to as KMILN, is an ID card issued by the Government of the Republic of Indonesia to Indonesians overseas who meet certain requirements and criteria. CHAPTER II PURPOSE AND OBJECTIVES Article 2 Guidelines and Procedures for Licensing and Investment Facilities provided herein are intended as guidance for the central PTSP officials in BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, KEK

18 Administrator, KPBPB Management Board, and other business actors as well as the general public. Article 3 (1) The objectives of Guidelines and Procedures for Investment Licensing and Facility are as follows: a. to realize standardization of submission procedures, application requirements and process of licensing and facilities at the central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KEK, PTSP KPBPB throughout Indonesia. b. to provide information on the terms and completion timing of the approval of the Investment Licensing and Facility; and c. to achieve fast, simple, transparent and integrated services. (2) Guidelines and Procedures for Investment Licensing and Facility shall be implemented as Norms, Standards, Procedures and Criteria for licensing and facility services by Central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KEK, PTSP KPBPB throughout Indonesia

19 (3) In the event that the Investment Licensing and Facility service is not addressed herein, the implementation of Investment Licensing and Facility services shall follow the Norms, Standards, Procedures and Criteria set forth in the regulation of ministers/heads of institutions. CHAPTER III SCOPE Article 4 (1) The scope of regulation of service herein includes Licensing service and Investment Facility service. (2) The Licensing Services as referred to in paragraph (1) includes: a. Investment Registration; b. Business License; c. Representative Office Permit. (3) Investment Facility Services as referred to in paragraph (1) shall consist of investment fiscal facilities and non-fiscal facilities. (4) Fiscal service facility as referred to in paragraph (3) includes: a. import duty exemption facility;

20 b. Income Tax facility for investment in Certain Business Fields and/or in Certain Regions; and c. Tax Allowance facility. (5) Non-fiscal facility services as referred to in paragraph (3) include: a. immigration service facility; b. Importer identification number; and c. Opening of Branch Offices. CHAPTER IV AUTHORITY OF LICENSING AND INVESTMENT FACILITIES Section One The Provision of Investment Licensing and Facility Article 5 (1) Investment Licensing and Facility shall be provided by Central Government, provincial government, and regency/municipal government, KPBPB Concession Agency, and KEK Administrator Agency in accordance with their authority. (2) The authority to grant Licensing and Investment Facilities as referred to in paragraph (1) by:

21 a. Central Government, shall be conducted by Central PTSP of BKPM; b. Provincial government, shall be conducted by Provincial DPMPTSP; c. Regency/Municipal government, shall be conducted by the Regency/Municipal DPMPTSP; d. KPBPB Concession Agency, shall be conducted by PTSP KPBPB Concession Agency; and e. KEK Administrator by PTSP KEK. Section Two Authority to Grant Licensing and Investment Facilities by the Central Government Article 6 (1) The authority to grant Licensing and Investment Facilities by the Central Government as referred to in Article 5 paragraph (2) point a consists of: a. Implementation of Investment with crossprovinces scope; b. Investment which covers: 1. Investment related to non-renewable natural resources with high risk of environmental damage;

22 2. Investment in the field of industry which is a high priority on a national scale; 3. Investment related to a unifying and connecting function between regions or the scope is cross-provinces; 4. Investment related to the implementation of national defense and security strategy; 5. Foreign Investment and investors using foreign capital, from other country s Governments, based on agreement entered into by the Government and the governments of such other countries; and 6. Other areas of Investment being the business of the Government by law. (2) Foreign Investment and Investors using foreign capital, as referred to in paragraph (1) point b number 5 include: a. Foreign Investment made by government of other country; b. Foreign Investment by foreign citizens or foreign businesses;

23 c. Investors using foreign capital from other governments, which is based on agreements entered into by the Indonesian Government and governments of other countries. (3) Foreign Investment as referred to in paragraph (2) point b also includes Limited Liability Company (LLC) which is a Foreign Investment company. (4) Cross province as referred to in paragraph (1) point a shall be the location of business activities whether located in more than one provinces in one stretch or not in one stretch in accordance with the provisions of legislations. (5) Investment business fields as referred to in paragraph (1) point b number 1, number 2, number 3, number 4, and number 6 shall be determined by the minister/head of agency. Section Three Authority to Provide Licensing and Investment Facilities by Provincial Government Article 7 (1) The authority to provide Investment Licensing and Facilities by provincial government as referred to in Article 5 paragraph (2) point b consists of:

24 a. Investment with scope of activities across regencies/municipalities; and b. Investment which is the authority of the provincial government based on the Legislations. (2) Cross-regencies/municipalities as referred to in paragraph (1) point a is business location located in more than 1 (one) regencies/municipalities in one stretch or not in accordance with the provisions of the legislations. Section Four Authority to Provide Investment Licensing and Facilities by Regency/Municipal Government Article 8 The authority to provide Investment Licensing and Facilities by the regency/municipal government as referred to in Article 5 paragraph (2) point c is an Investment with scope of activities in a regency/municipality. Section Five Authority to Provide Investment Licensing and Facilities by KPBPB Concession Agency and KEK Administrator

25 Article 9 The authority to provide Investment Licensing and Facilities by KPBPB Concession Agency and KEK Administrator as referred to in Article 5 paragraph (2) point d and point e shall be conducted based on the Mandate of the Central Government/Local Government and observe the Legislations related to KPBPB Concession Agency and KEK. CHAPTER V TERMS AND PROCEDURES OF INVESTMENT LICENSING Section One Terms of Investment Licensing Paragraph 1 Terms of Starting Business and Starting Production/Operation Article 10 (1) Starting business includes the following activities: a. establishment of new business, either for PMDN or PMA; b. starting business activities for the change of status into PMA, as a result of the entry of

26 foreign capital in the ownership of all/part of the company's capital in legal entity; c. starting business activities for the change of status to PMDN, as a result of the change of ownership of the company's capital from previously foreign capital to be all domestic capital; d. adding new business fields; e. adding new business locations; f. increasing production capacity in the industrial sector for business expansion; or g. adding business type in the same business field outside industrial sector. (2) To start a business as referred to in paragraph (1) both for PMDN and PMA, companies with certain business activity criteria are required to have Investment Registration. (3) Investment Registration as referred to in paragraph (2) located outside KEK/KPBPB Concession Agency/Industrial Estate/KSPN shall first be followed up with implementation permits prior to the companies conducting construction activities

27 (4) Criteria of certain business activities required to first obtain Investment Registration as referred to in paragraph (2) are: a. field of business which takes time to carry out construction activities; b. field of business eligible for Investment facilities in accordance with the provisions of legislations; c. field of business potentially inflicting impacts of medium and large environmental pollution in accordance with the provision of legislations; or d. field of business associated with state defense, natural resources, energy and infrastructure management; or e. other field of business in accordance with the provisions of legislations. (5) For companies that already acquired Investment Registration and is still valid as referred to in paragraph (2), if the company is to conduct production/operation, it must first obtain Business License. Article

28 (1) To Start Production/Operation, both for PMDN and PMA, it must obtain Business License. (2) Investment in certain business fields may be directly granted Business License, provided that: a. incorporated in Indonesian with the limitation of share ownership in accordance with the provisions of legislations; b. already had Taxpayer Identification Number; and c. already had office/place of business. (3) Certain business fields as referred to in paragraphs (2) must meet the following criteria: a. areas of business that do not require construction activities; or b. areas of business that do not require exemption of import duty on the import of machinery/capital goods. (4) Companies that have Business Licenses as referred to in paragraph (2) shall start conducting business activities within 1 (one) year. (5) In the event the company as referred to in paragraph (4) failed to start conducting activities then the Central PTSP of BKPM, Provincial

29 DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, and PTSP KEK shall, in accordance with their authority, revoke the Business License. Paragraph 2 Terms of Investment Value and Capital Article 12 (1) PMA companies with large business qualifications shall, unless otherwise stipulated by legislations, be obliged to implement terms of investment value and capital requirements to obtain Investment Registration and/or Business License. (2) Companies with large business qualifications as referred to in paragraph (1) are: a. has a net worth more than Rp ,00 (ten billion rupiah) excludes land and building of business premises based on the most recent financial statement; or b. has annual sales of more than Rp ,00 (fifty billion rupiah) based on the most recent financial statement. (3) PMA shall, in order to start the business as referred to in Article 10 paragraph (1), meet the

30 requirements of investment and capital value as referred to in paragraph (1), unless otherwise provided by legislations, namely to comply with the following provisions: a. total investment value greater than Rp ,00 (ten billion rupiah), excluding land and buildings; b. issued capital is equal to the paid up capital, at least Rp ,00 (two billion five hundred million rupiah ); c. investment in share capital, for each shareholder at least Rp (ten million rupiah; d. the percentage of shareholding is calculated based on the par value of the shares. (4) The provisions concerning the investment value requirements and capital for PMA as referred to in paragraph (3) are exempted in the event of investment with business activity of development and management of property: a. property in the form of: 1. the whole building; or

31 2. housing complex in an integrated manner, Investment value greater than Rp ,00 (ten billion rupiah) including land and building, paid-up capital of at least Rp ,00 (two billion five hundred million rupiah) and investment value in share capital, for each shareholder a minimum of Rp ,00 (ten million rupiah); or b. property unit not in: 1. 1 (one) complete building; or 2. 1 (one) housing complex in an integrated manner, Investment values greater than Rp ,00 (ten billion rupiahs) excluding land and building, paid-up capital of at least Rp ,00 (two billion five hundred million rupiah) and the value of investments in the Company's capital, for each shareholder a minimum of Rp ,00 (ten million rupiah) provided that Debt to Equity Ratio (DER) 4:

32 (5) The provisions concerning investment value requirements as referred to in paragraph (3) are specific to industrial sector in accordance with the provisions of regulation related to the industry regarding the amount of investment value for the classification of industrial business. (6) Investors are prohibited from entering into agreements and/or statements confirming the shareholding in a limited liability company for and on behalf of another person, in accordance with the legislations. (7) Where it is necessary to affirm that shareholding in a limited liability company is not for and on behalf of another person, the investor must make a written statement before notary (waarmerking). Paragraph 3 Terms of Business Sector and Form of Corporation Article 13 (1) Application for Investment Registration and Business License must observe: a. provisions on closed business fields and open business fields on conditions; and b. regulation of ministers/lpnk,

33 in accordance with the provisions of the legislations. (2) In the event a company is located within the KEK, the provisions of an open business field on conditions shall not apply, except for the business field reserved for Micro, Small, Medium Enterprises and Cooperatives and closed business fields for investment. Article 14 (1) Investment Registration and Business License for PMDN may be given to: a. Limited liability company (PT) wholly owned by Indonesian nationals; b. Limited partnership or Commanditaire Vennootschap (CV), or Firm (Fa), or individual business; c. Cooperatives or foundations established by Indonesian nationals; or d. State Owned Enterprises (BUMN) or Regional Owned Enterprises (BUMD). (2) Investment Registration and Business License for Foreign Investment is given to PT

34 (3) Investment Registration as referred to in paragraph (2) may be given for the establishment of a PT. Paragraph 4 Venture Capital Article 15 (1) The Venture Capital Company (PMV) may become a shareholder of an investment company with requirements in accordance with the provisions of legislations. (2) Investments by PMV as referred to in paragraph (1) with shares owned by Domestic Investors or in the presence of foreign capital elements, are classified as domestic equity participation. (3) PMV capital participation is temporary and may not exceed 10 (ten) years from the date of investment of shares approved by the Ministry of Justice and Human Rights. (4) Period as referred to in paragraph (3) may be extended 2 (two) times but the total extension shall not extend maximum 10 (ten) years in accordance with the provisions of legislations

35 (5) In the event of PMV period as referred to in paragraph (3) and paragraph (4) has expired, the company shall transfer the PMV shares to other parties. Paragraph 5 Terms of Divestment Article 16 (1) PMA companies that have been subject to investment obligation of the Companies shares in the approval and/or Business License prior to enactment hereof, such investment obligation is still binding and must be implemented in accordance with the predetermined period. (2) Company that is subject to investment obligation in accordance with the business sector still has to carry out the divestment in accordance with the provisions of legislations. (3) Divestment of shares of companies as referred to in paragraph (1) and paragraph (2), may be done to Indonesian nationals or Indonesian corporations with share capital wholly owned by Indonesian nationals through direct ownership in accordance with the agreements between the parties and/or

36 market domestic capital of at least Rp ,00 (ten million rupiah) for each shareholder. (4) Investment obligation as referred to in paragraph (1) and paragraph (2) shall be conducted on the basis of General Shareholders Meeting document stating the parties' agreement on the implementation of the investment obligation. (5) Shareholding of Indonesian participants sue to divestment, after obtaining approval from the Minister of Justice and Human Rights may be resold to Indonesian nationals/foreign individuals/indonesian entities/foreign business entities while remain observing the provisions of legislations. (6) Investment obligation as referred to in paragraph (1) shall not be carried out if the document in the General Meeting of Shareholders: a. for joint venture, the Indonesian participant stated that do not require/demand shareholding in accordance with the divestment provisions stated in the letter of approval and/or business license; or

37 b. for foreign investment company 100% owned by foreign shareholders, the shareholders stated that they did not have any commitments/agreements with the Indonesian side to sell any shares. (7) In the event divestment cannot be carried out as referred to in paragraph (6), if in the future any Indonesian parties insist the implementation of divestment obligation, it shall be the responsibility of the shareholder/company. (8) In the event of the implementation of the divestment obligation as referred to in paragraph (1) and paragraph (2), the company shall apply for Investment Registration with the change type of registration to PTSP BKPM, PTSP KPBPB, or PTSP KEK in accordance with their authority. (9) Upon agreement of shareholders as referred to in paragraph (6), the company shall apply for Investment Registration with change type of registration to PTSP BKPM, PTSP KPBPB, or PTSP KEK in accordance with their authority to cancel the divestment obligation. Part Two

38 Terms and Procedures for Investment Registration Paragraph 1 General Article 17 Application for Investment Registration for domestic and foreign companies shall be submitted before or after the companies have been incorporated in Indonesia. Article 18 Investment Registration can be issued if the request meets: a. provisions on private and public business field on conditions; and b. completeness of application requirements. Paragraph 2 Type of Investment Registration Article 19 Type of registration in Investment Registration includes: a. new; b. change of status; and

39 c. change. Article 20 (1) The companies to start business in accordance with Article 10 paragraph (1) a, d, e, f, and g are required to have Investment Registration with type new that meet the criteria of business activities as referred to in Article 10 paragraph (4) and in accordance with the provisions of legislations. (2) In the event a PMDN company is to change status to a foreign company as referred to in Article 10 paragraph (1) point b, it shall apply for Investment Registration by type of change of status. (3) In the event a foreign company is to change status to PMDN company as referred to in Article 10 paragraph (1) point c, it shall apply for Investment Registration by type of change of status. (4) Companies as referred to in paragraph (3) shall further apply for their licensing to DPMPTSP in accordance with their authority. (5) Upon issuance of Investment Registration with the status changed to PMA as referred to in paragraph

40 (2), it has to be followed by the subsidiary to file a Investment Registration by type of change of status as foreign company at the time the subsidiary takes corporate action. (6) Upon issuance of Investment Registration with the status changed to PMDN company as referred to in paragraph (3), a subsidiary status shall be determined based on the shareholding. (7) In the event a subsidiary as referred to in paragraph (5) has changed its status to a foreign company and has a private or public business fields on conditions, the subsidiary shall not run private business activities. (8) In the event a subsidiary has public business fields on condition as referred to in paragraph (7), the subsidiary shall carry out business activities in accordance with the provisions of legislations. Article 21 (1) Company may make changes to the data included in the Investment Registration by applying for Investment Registration under new registration type with validity period in accordance with those

41 stated in the Investment Registration of which the change is proposed. (2) Changes to the data as referred to in paragraph (1) for the extension of Project Completion Period shall be filed under new registration type with a maximum validity period of 3 (three) years. (3) Especially for companies that would make changes to data related with: a. company name; b. Taxpayer Identification Number; c. head office address; and d. equity in the company's capital, they should first apply for Investment Registration under change type. (4) Changes as referred to in paragraph (1) and paragraph (3) is intended for companies that have Investment Registration only and have not had Business License/Expansion License. (5) In the event of a change of location for domestic investment projects, the Company shall apply for Investment Registration under new registration type in the new location

42 (6) In the event of change of company's capital to PMA resulted in a decrease in the company's capital, the company must first obtain approval from the Minister of Justice and Human Rights. (7) In the event of change of company's capital for foreign companies listing its shares in Capital Market, it should be carried out indirectly or through a portfolio of domestic capital markets, the provision of public business fields on conditions become public business field. (8) PMDN Company selling shares directly in the capital market in the country, if there are Foreign Investors buying the shares and recorded in the deed of the company, the company must make changes to the status from Domestic into PMA. Paragraph 3 Validity Period of Investment Registration Article 22 (1) The validity period of Investment Registration is the same as the Project Completion Period specified in the Investment Registration. (2) The Project Completion Period set forth in the Investment Registration is granted for a period of

43 1 (one) to 5 (five) years in accordance with the characteristics of the business field. (3) Request for extension of Project Completion Period shall be filed no later than 30 (thirty) days before the expiration of the period specified in the project completion period of the Investment Registration. (4) Request for extension of Project Completion Period as referred to in paragraph (3) should have been declared complete and correct no later than the expiry date of the project completion period specified in the Investment Registration. (5) In the event Investment Registration of which the Project Completion Period has expired becomes null and void and unenforceable, the Company cannot apply for an extension of Project Completion Period. (6) In the event the company as referred to in paragraph (5) is a PMA company: a. if the company does not have another valid license and not interested in doing business, the company must be liquidated; and b. if the company is still interested in doing business:

44 1. in the same field, the company shall file an Investment Registration under new registration upon provisions as agreed in the permit that has expired; and 2. in different business fields than those listed in the permit that has expired, the company shall file an Investment Registration upon provisions in accordance with the provisions of the legislations at the time of submission. Paragraph 4 Procedures of Application for Investment Registration Article 23 (1) Application for Investment Registration shall be done online through SPIPISE by enclosing the requirements. (2) Requirements as referred to in paragraph (1) are as set forth in Appendix I that forms Inseparable part hereof. (3) For Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK that have not implemented online registration, the application for Investment Registration shall be filed offline

45 (4) Investment Registration Application form as referred to in paragraph (3) shall be as set forth in Appendix II, which forms integral part hereof, by enclosing the requirements as referred to in paragraph (2). (5) If further explanations are required related to the activities of the company, the directors of the company may be required to make a presentation on their business activities before the officials of Central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK. (6) The implementation of presentation as referred to in paragraph (5) may be done by utilizing information technology. (7) In the event the application for Investment Registration in which the prospective shareholders are Indonesian nationals KMILN holder, then the Identity Card requirements as referred to in Appendix I that forms Inseparable part hereof may be replaced with KMILN and Taxpayer Identification Number is not required

46 (8) In the event the KMILN holder as referred to in paragraph (7) has lived in Indonesia for more than 183 (one hundred and eighty three) days then the provision on Tax Payer Identification Number must be fulfilled. (9) Investment Registration filed before incorporation in Indonesia shall be issued maximum 1 (one) working day from the receipt of complete and correct application. (10) Investment Registration filed after incorporation in Indonesia shall be issued maximum two (2) business days from the receipt of complete and correct application. (11) Change to Investment Registration shall be issued no later than two (2) business days from the receipt of complete and correct application. (12) Investment Registration as referred to in paragraph (9), paragraph (10), and paragraph (11) shall be issued in the form of a certificate with a digital signature in a portable document format (pdf) and enclosing attestation page. (13) In the event Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or

47 PTSP KEK has not been able to issue Investment Registration in the form as referred to in paragraph (12), the Investment Registration shall be issued offline. (14) The form of Investment Registration as referred to in paragraph (12) and paragraph (13) shall be as set forth in Appendix III that forms Inseparable part hereof. (15) In the event the application for Investment Registration as referred to in paragraph (1) and paragraph (3) is rejected, the Head of BKPM, Head of Provincial DPMPTSP, Head of Regency/Municipal DPMPTSP, KEK Administrator, Head of KPBPB Concession Agency or the appointed official shall issue Letter of Rejection no later than 5 (five) business days. (16) Letter of Rejection as referred to in paragraph (15) shall be as set forth in Appendix IV that forms Inseparable part hereof. Section Three Terms and Procedures for Obtaining Business License Paragraph One General

48 Article 24 (1) Company that will conduct manufacturing/operation must have a business license in accordance with the provisions of legislations in the business sector. (2) Company which has valid Investment Registration/Principle Permit/Investment Permit and will conduct manufacturing/operation must have business license in accordance with the provisions of legislations in the business sector. (3) Company may directly apply for business license in accordance with the provisions of legislations in the business sector without going through the application for Investment Registration, if: a. complying with the criteria listed in Article 11 paragraph (2) and paragraph (3); or b. already had Business License/Expansion Permit and to change the status of the company. Paragraph 2 Type of Business License Article

49 The type of Business License as referred to in Article 24 shall consist of: a. Business License for a variety of business sectors, including for mergers; b. Expansion Permit for Investment in the industrial sector; and c. Change of Business License. Article 26 (1) Business License as referred to in Article 25 consist of Business License in the sector: a. Agriculture; b. Environment and forestry; c. Energy and Mineral Resources; d. Maritime Affairs and Fisheries; e. Industry; f. Trading; g. Public Works and Housing; h. Tourism; i. Health; j. Transportation; k. Communication and Information; l. Labor; m. Education and culture; and

50 n. Police. (2) Business License as referred to in paragraph (1) shall be provided in accordance with the nomenclature, formats and conditions stipulated by the Ministry/LPNK the founder of the sector. Article 27 (1) Foreign/domestic investment company may, in order to meet the requirements to obtain a decree of the Finance Minister on the Granting of Entrepreneur Permit in Bonded Zone (PDKB), apply for Industrial Business License as Entrepreneur of Bonded Zone. (2) In the event the Decree of the Minister of Finance on the Granting of PDKB License: a. can be issued, no later than seven (7) days after the decree was issued, the company must update the folder company by uploading the decree of the Minister of Finance regarding the granting of PDKB license to Central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, and PTSP KEK in accordance with their authority; or

51 b. cannot be published, the Industrial Business License as referred to in paragraph (1) shall not apply, the legality of the company shall be back to the Investment Registration/Principle Permit/Investment License and the Company shall reapply for business license at the time it is ready for production in accordance with the provisions of legislations. Article 28 (1) Company that already had a business license issued by: a. Central PTSP BKPM, PTSP KPBPB, PTSP KEK; or b. Provincial DPMPTSP, Regency/Municipal DPMPTSP for business field other than trading; shall not be required to have Trading Business License (SIUP) issued by the Local Government. (2) Local Government and other relevant agencies are prohibited from requiring ownership of Business License for companies outside the trade sector Article 29

52 (1) PMDN Company that has valid Investment Registration/Principle License/Investment License and issued by Central PTSP of BKPM with more than one (1) project site, the Business License shall be filed to Provincial DPMPTSP or Regency/Municipal DPMPTSP respectively in accordance with their authority unless otherwise provided by legislations. (2) PMDN Company that has valid Investment Registration/Principle License/Investment License and issued by the Provincial DPMPTSP with project site across the regency/municipality, shall apply for Business License to Provincial DPMPTSP or Regency/Municipal DPMPTSP in accordance with the provisions of legislations. Article 30 (1) PMA/PMDN Company whose valid Investment Registration/Principle Permit/Investment License lists more than 1 (one) business fields, shall apply for the Business License Permit simultaneously. (2) In the event the Business License is not filed simultaneously then the business field not applied

53 for Business License shall be considered not realized or canceled. (3) For the business field unrealized or canceled as referred to in paragraph (1), if the company is still interested in undertaking such business then: a. it may apply for Investment Registration, or b. with respect to such business field the company may immediately file a business license without obtaining Investment Registration in accordance with the terms and criteria set forth in Article 11 paragraph (2) and paragraph (3), in accordance with the provisions of legislations. Article 31 (1) Merger of companies can be done by PMA companies or PMDN companies provided that they already have a Business License. (2) Upon the occurrence of merger of companies as referred to in paragraph (1), the surviving company shall apply for business license for the merger of the companies. (3) Business License as referred to in paragraph (2) shall be issued separately for each sector, in

54 accordance with the provisions of the Ministry/LPNK founder of the sector. Article 32 (1) Company that will carry out manufacturing for business expansion in industrial sector is required to have expansion permit in accordance with the provisions of legislations. (2) Especially for PMA Company, the approve Principle Expansion Permit with an investment of less than Rp ,00 (ten billion rupiah) excluding investments in land and buildings, the provision of value realization of investment shall be adjusted to above Rp (ten billion rupiah) excluding investments in land and buildings. Article 33 (1) Company that already had a Business License/Expansion Permit may make changes to the identity/company in accordance with the provisions of legislations. (2) Company is required to have a business license containing the changes as referred to in paragraph (1)

55 (3) Change of identity/company as referred to in paragraph (1) and paragraph (2) is excluded In the event of changes in participation in the company's capital. (4) Upon a change in the participation in the company's capital as referred to in paragraph (3) it shall be issued Investment Registration under change registration type. (5) In the event of change of fixed capital in the company investment components, it shall be reported in LKPM. Paragraph 3 Validity Period of Business License Article 34 (1) The validity period of business license is set as along the company is still conducting manufacturing/operations. (2) Validity period of business licenses as referred to in paragraph (1) shall not apply to: a. PMA company that has not met the requirements as a company with a large business qualifications as stipulated in the legislations, the Business License shall be

56 granted with a validity period of 1 (one) year from the stipulation date. b. business field provided in the legislations in accordance with the business sector. (3) Company with a large business qualifications as referred to in paragraph (2) point a, namely: a. has a net worth of more than Rp ,00 (ten billion rupiah), excluding land and building of business based on the most recent financial statements; or b. has an annual sales turnover of more than Rp ,00 (fifty billion rupiah) based on the most recent financial statements. (4) Company that has Business Licenses as referred to in paragraph (2) point a may apply for a Business License with a validity period as long as the company is still conducting business after fulfilling the conditions as large business qualifications. (5) Company as referred to in paragraph (2) point a that has not been able to meet the conditions, may apply for extension of the validity period of maximum 1 (one) year to file a Business License

57 changes before the validity period expires and cannot be extended. (6) Application for extension of period of validity of Business Licenses as referred to in paragraph (4) shall be filed no later than 30 (thirty) days prior to the expiration date specified in the License. (7) Application for extension of period of validity of Business Licenses as referred to in paragraph (6) shall have been declared complete and correct on the date prior to the expiration date specified in the License. (8) In the event the period of validity as referred to in paragraph (2) point a has expired, application for extension of the validity period of Business License cannot be processed, the Business License shall become null and void, and unenforceable. (9) In the event the company as referred to paragraph (6) is still interested in conducting its business activities, then: a. it may apply for Investment Registration; or b. In the event of certain business fields, the company may immediately file a Business License without obtaining Investment

58 Registration in accordance with the terms and criteria set forth in Article 11 paragraph (2) and paragraph (3), in accordance with the provisions of legislations. Paragraph 4 Procedures of Application for Business License Article 35 (1) Application for Business Licenses as referred to in Article 24 paragraph (2) shall be conducted online through SPIPISE. (2) In the event of application for Business Licenses as referred to in Article 24 paragraph (2) cannot be submitted online, offline application is submitted by enclosing the requirements as stipulated in the legislations. (3) Offline application as referred to in paragraph (2) shall be submitted to the One-Stop Center at BKPM/Provincial DPMPTSP/Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK using the application form set forth in Appendix V that forms inseparable hereof or the application form as stipulated in the Regulation of the Minister

59 (4) Application for Business License as referred to in paragraph (1) and paragraph (2) shall be submitted no later than 30 (thirty) days prior to the expiration date set forth in the Investment Registration/Principle License/Investment License. (5) Application for Business License as referred to in paragraph (4) shall have been declared complete and correct no later on the date prior to the expiration specified in the Investment Register/Principle License/Investment License. (6) Application for Business License as referred to in paragraph (1) and paragraph (2) shall enclose: a. general requirements, namely: 1. Legal aspects of legal entities: a. Investment Registration/Principle License/Investment License/Business License if any; b. certificate of incorporation and/or the amendment that has acquired the approval/notification of the Minister of Justice and Human Rights

60 c. Taxpayer Identification Number of the company that has done Taxpayer Status Confirmation in accordance with the provisions of legislations 2. Legality aspect of domicile: a. legality of the company head office address; and/or b. legality of the project site of the company, in the form of Sale and Purchase Agreement (AJB), Certificate of Land (HGB/HGU), lease agreement or leasing agreement for group company/affiliates. 3. Legality aspects of environment in terms of Environment Management documents 4. LKPM receipt of the last period online for company that already had Investment Registration/Principle License/Investment License; and 5. Power of attorney if application has not been done directly by the management of the company;

61 b. special requirements, such as: 1. recommendation of the ministry/agency founder if required in accordance with the terms on business field; and 2. supporting documents if required in accordance with the terms on business field, in accordance with the provisions of legislations of the sector. (7) Application for Business Licenses as referred to in Article 24 paragraph (3) made online through SPIPISE equipped with the requirements, namely: 1. certificate of incorporation and/or amendments that has get validation/approval/notification from Minister of Justice and Human Rights; 2. Taxpayer Identification Number company that has made the confirmation status of the taxpayer in accordance with the provisions of legislations; 3. address the legality of the company's headquarters in the form of Sale and Purchase Agreements (AJB), Land Rights

62 Certificate (HGB/HGU), lease agreement or leasing agreement for group company/affiliates; and 4. power of attorney if submission is not done directly by the company. (8) In the event that it needed further explanation related to the activities of the company, directors of the company may be asked to make a presentation in front of their business activities in the Central PTSP BKPM officials, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK. (9) The presentation as referred to in paragraph (8) can be done using information technology. (10) Where necessary, officials at the Centers PTSP BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK can carry out field inspections; (11) Business License issued no later than 5 (five) business days or according to as stipulated in the legislations, the date of receipt of complete and correct application

63 (12) Permit for Company Incorporation issued not later than six (6) business days from receipt of complete and correct application. (13) Changes in Business License issued no later than 5 (five) business days of receipt of complete and correct applications. (14) In the event of the issuance of the industrial license, after the application is complete and correct, to do inspection Industrial locations that result mentioned in the investigation report. (15) Industrial site audits and the minutes of inspection as referred to in paragraph (14) is carried by BKPM can be done by utilizing information technology for the company with an investment of less than Rp ,00 (one hundred billion rupiah). (16)Industrial site inspection and investigation report as referred to in paragraph (14) carried by Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK can be done using information technology

64 (17) Industrial Business License issued a tau rejected later than 5 (five) business days after the investigation report is received. (18) The Business Licenses as referred to in paragraph (11), paragraph (12) and paragraph (13) shall be issued in the form of a certificate with a digital signature in portable document format (pdf) and including attestation page. (19) In the event of Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK cannot issue a Business License in the form of as referred to in paragraph (18) then Business License shall be issued offline. (20) The form of Business Licenses as referred to in paragraph (18) and paragraph (19) listed in Appendix VI to the Appendix XIX that Inseparable forms part of the Regulation This body or under the provisions of legislations. (21) In the event application for Business Licenses as referred to in paragraph (1) and paragraph (2) is rejected, the Head of BKPM, Head Provincial DPMPTSP, Head Regency/Municipal DPMPTSP, KEK Administrator, Head of Concession or appointed

65 officials makes Rejection Letter no later than 5 (five) business days. (22) Form of Rejection Letter as referred to in paragraph (21) shall be as set forth in Appendix IV that forms Inseparable part hereof. CHAPTER VI TERMS AND PROCEDURES OF APPLICATION FOR REPRESENTATIVE OFFICE AND BRANCH OFFICE PERMIT Section One Terms of Representative Office Permit Paragraph 1 General Article 36 Representative Office Permit as referred to in Article 4 paragraph (2) c consists of: a. Foreign Company Representative Office (KPPA) Permit; b. Foreign Trading Company Representative Office (KP3A) Permit; c. Foreign Construction Service Enterprise Representative Offices (BUJKA) Permit; and

66 d. KPPA Migas Permit. Paragraph 2 KPPA Article 37 (1) KPPA activities are limited: a. as supervisor, liaison coordinator, and taking care of the interests of the company or its affiliated company; b. prepare for the establishment and business development PMA company in Indonesia or in other countries and Indonesia; c. located in the office building in the provincial capital; d. not looking for anything income from sources in Indonesia is not justified conducting or doing something Engagement/sales and purchases of goods or commercial services to company or individuals in the country; and e. did not participate in any form in the management of something company, subsidiaries or branches of company in Indonesia

67 (2) To carry out the activities of representative offices of foreign enterprises in Indonesia are required to have KPPA Permit. (3) Head of KPPA must reside in Indonesia, are fully responsible for the smooth running of Office, is not justified to activities outside the activities of the Office and not concurrent positions as head of the company and/or other KPPA. (4) In the event the Head of KPPA designated are foreigners and/or employment of foreign workers, migrant workers must be employed in accordance with the provisions of legislations. (5) KPPA permit as referred to in paragraph (2) shall apply not later than three (3) years unless otherwise specified less than 3 (three) years in a point of appointment and may be extended in accordance with the designation validity period stated in the point of appointment. (6) KPPA shall file extension KPPA permit no later than 30 (thirty) days before the expiration date on the charge in KPPA permit expires. (7) Request KPPA Permit as referred to in paragraph (6) should have been declared complete and

68 correct maximum on the date prior to the expiration date specified in the permit KPPA ends. (8) KPPA may make changes to the provisions contained in the License KPPA. Paragraph 3 KP3A Article 38 (1) KP3A may be in the form of Selling Agent and/or Manufacturers Agent and/or Buying Agent. (2) KP3A as referred to in paragraph (1) is prohibited from conducting trading and sales transactions, either from the beginning until completion as submitted tenders, signing contracts, settle claims, and the like. (3) To exercise right KP3A activities in Indonesia must have a Business License of Foreign Trade Company Representative (SIUP3A). (4) KP3A may be opened in the provincial capitals and regencies/cities in all regions of the Republic of Indonesia. (5) In the event the appointed Head of KP3A is foreigners and/or employment of foreign workers,

69 Indonesian workers must be employed in accordance with the provisions of legislations. (6) KP3A head may employ foreign workers as referred to in paragraph (5) as Assistant of Head of KP3A or Assistant of Head of KP3A Branch Office whose duties are in accordance with the department which includes assistant in the field of Promotion, Market Survey, and Sales and Purchasing Supervision. Article 39 (1) SIUP3A consists of: a. Temporary Approval Letter of Appointment of Foreign Trade Company Representative; b. New SIUP3A of Head Office; c. New SIUP3A of Branch Office; d. SIUP3A Extension; and e. SIUP3A Change. (2) SIUP3A as referred to in paragraph (1) a shall be valid for a period of 2 (two) months from the issue date. (3) SIUP3A as referred to in paragraph (1) point b shall be valid for a period of 1 (one) year from the issue date

70 (4) SIUP3A as referred to in paragraph (1) c and d shall be valid for a maximum period of 3 (three) years unless specified less than 3 (three) years in a letter of appointment and may be extended in accordance with the validity period specified in the letter of appointment. (5) In the event SIUP3A as referred to in paragraph (1) has expired, it must reapply for SIUP3A as referred to in paragraph (1) point a. (6) KP3A may make changes to the provisions contained in the SIUP3A as referred to in paragraph (1) point b, c, and d. Article 40 (1) KP3A may open Branch Office of Foreign Trade Company Representative in the capital of the province and/or regency/municipality. (2) The opening of branch office as referred to in paragraph (1) may be conducted after KP3A Head Office has had New SIUP3A of Head Office. (3) Head of Branch Office of KP3A shall be different from Head of KP3A Head Office. Paragraph

71 Foreign Construction Service Enterprise Representative Office Article 41 (1) Representative permit is granted to Foreign Construction Service Enterprise (BUJKA) of large qualification. (2) BUJKA shall enter into a joint operation with Construction Service Enterprise (BUJK) based on construction service equality principle and construction service qualification equivalence principle. (3) Representative permit can be used to perform construction services business in all parts of Indonesia. (4) Representative permit shall be valid for a period of 3 (three) years and may be extended. (5) In the implementation of the activities, it must have Representative Permit for Foreign Construction Service Enterprise (BUJKA) of Central PTSP of BKPM and meet other conditions as stipulated in the legislations. Article

72 (1) Representative Permit of Foreign Construction Service Enterprise (BUJKA) consists of: a. BUJKA New Permit; b. BUJKA Renewal Permit; c. Change of BUJKA Permit Data; and d. Closure of BUJKA Permit. (2) Application for New Permit, Permit renewal and/or change of permit data as referred to in paragraph (1), shall be subject to an administration fee as follows: a. Construction planner/supervision consulting services USD5,000 (five thousand United States dollars); and/or b. Construction contractor USD10,000 (ten thousand United States dollars). (3) The administrative fee as referred to in paragraph (2) shall be directly deposited by BUJKA to the State treasury. Paragraph 5 KPPA Migas Article 43 (1) Enterprises may apply representative office opening permit in the sub sector of oil and gas

73 (2) To carry out the activities of representative offices as referred to in paragraph (1), company is required to have a KPPA Migas permit from Central PTSP of BKPM based on the recommendation of the Directorate General of Oil and Gas, Ministry of Energy and Mineral Resources in accordance with the provisions of legislations. (3) In the event the appointed Head of KPPA Migas is a foreign national and/or hire foreign workers, Indonesian workers must be employed in accordance with the provisions of legislations. (4) KPPA Migas permit as referred to in paragraph (2) shall be valid for maximum 3 (three) years and may be extended. (5) KPPA Migas shall apply for KPPA Migas Extension Permit no later than 30 (thirty) days before the validity period specified in the KPPA Migas permit expires. (6) Application for KPPA Migas Permit as referred to in paragraph (5) should have been declared complete and correct no later than on the date prior to the expiration date set forth in the KPPA Migas Permit

74 (7) KPPA Migas may make changes to the provisions contained in the KPPA Migas Permit. Paragraph 6 Procedures of Application for and Issuance of Representative Office Permit Article 44 (1) Application for Representative Office Permit as referred to in Article 36 points a, b, and d shall be done online through SPIPISE with the requirements as set forth in Appendix I that forms Inseparable part hereof. (2) Application as referred to in paragraph (1) shall be issued not later than 5 (five) business days from the receipt of complete and correct application. (3) Representative Office Permit as referred to in paragraph (2) shall be issued d of natural forms with digital signature certificate in a format portable document format (pdf) and fitted sheet attestation. (4) Application for Representative Office Permit as referred to in Article 36 point c shall be submitted offline to Central PTSP of BKPM, by enclosing

75 requirements as set forth in Appendix I that forms Inseparable part hereof. (5) Application as referred to in paragraph (4) shall be issued no later than ten (10) business days from the receipt of complete and correct application. (6) The form of Representative Office Permit as referred to in Article 36 points a and b shall be as set forth in Appendix XX and Appendix XXI that forms inseparable part hereof. (7) The form of Representative Office Permit as referred to in paragraph (4) shall be as set forth in Appendix XXII that Forms inseparable part hereof or in accordance with the provisions of legislations. (8) The form of Representative Office Permit as referred to in Article 36 point d shall be as set forth in Appendix XXIII that forms inseparable part hereof or in accordance with the provisions of legislations. (9) In the event the application for Permit Office as referred to in paragraph (1) and paragraph (4) is rejected, the Head of BKPM or officer appointed shall issue Rejection Letter no later than five (5) business days

76 (10) The form of Rejection Letter as referred to in paragraph (9) shall be as set forth in Appendix IV that forms Inseparable part hereof. Section Two Terms and Procedures of Application for Opening of Branch Office Paragraph 1 Terms of Opening of Branch Offices Article 45 (1) PMA/PMDN Company may open branch offices throughout Indonesia which is a unit or part of the holding company which may be domiciled in the different place and may be independent or be assigned to carry out some tasks from its holding company. (2) PMA/PMDN Company for which the permit is the authority of the central government and will open a branch office shall report the plan of Opening of Branch Office to Central PTSP of BKPM unless otherwise determined by the provisions of legislations

77 (3) PMDN company whose permit is the authority of local government, and will open a Branch Office, shall report the plan of Opening to Provincial DPMPTSP. Paragraph 2 Procedures of Application for Opening of Branch Office Article 46 (1) Application for Opening of Branch Office as referred to in Article 45 paragraph (2) shall be done online through SPIPISE, by enclosing the requirements as set forth in Appendix I that forms inseparable part hereof. (2) Opening of Branch Office as referred to in paragraph (1) shall be issued in the form of a certificate with the digital signature format in portable document format (pdf) and include attestation page. (3) Application for Opening of Branch Office as referred to in Article 45 paragraph (3) shall be conducted offline, with the requirements as set forth in Appendix I that forms inseparable part hereof

78 (4) Opening of Branch Office as referred to in paragraph (3) shall be issued in the form as set forth in Appendix XXIV that forms inseparable part hereof. (5) Opening of Branch Office shall be issued no later than three (3) business days of the receipt of complete and correct application. (6) In the event the application for Opening of Branch Office as referred to in paragraph (1) is rejected, the Head of BKPM, Head of Provincial DPMPTSP, Head of Regency/Municipal DPMPTSP, KEK Administrator, Head of Concession or appointed official shall issue Rejection Letter no later than five (5) business days. (7) The form of Rejection Letter as referred to in paragraph (5) shall be as set forth in Appendix IV that forms inseparable part hereof. (8) Branch Office may make changes to the provisions listed in the Opening of the Branch Office. (9) Form of Opening of Branch Office Permit Changes as referred to in paragraph (7) shall be as set forth in Appendix XXIV that forms inseparable part hereof

79 CHAPTER VII TERMS AND PROCEDURES OF CUSTOMS AND TAXATION FACILITIES Section One Terms and Procedures of Application for Import Duty Exemption Facilities Paragraph 1 Terms and Procedures of the Provision of Import Duty Exemption Facility on the Import of Machinery as well as Goods and Materials for Construction or Industrial Development with respect to Investment Article 47 (1) Company that has Investment Registration/ Principle Permit/Investment Permit either new investments, expansion, changes, and has been incorporated or having valid Business License/Expansion License may obtain fiscal facilities in accordance with the provisions of legislations. (2) Fiscal facilities as referred to in paragraph (1) include:

80 a. exemption from import duty on machinery not including spare parts; and b. exemption from import duty on the import of goods and materials. Article 48 (1) The procedures for the submission of application for the facilities by the Company as referred to in Article 47 paragraph (1) shall be as follows: a. application for facilities shall be filed online through SPIPISE to the Central PTSP of BKPM by enclosing requirements as set forth in Appendix I that forms inseparable part hereof; b. facilities as referred to in paragraph (1) shall be issued in hardcopy or certificate with a digital signature in a portable document format (pdf) and include attestation page; c. Company must have access rights in order to apply for the facilities online to Central PTSP through SPIPISE; d. Company to apply for the facilities must upload the required documents;

81 e. Company must complete company folder which has been owned by the most recent data; f. Company shall fill out and submit the form of application for facilities along with a list of engine/goods and materials online through SPIPISE; g. application as referred to in paragraph d shall be verified by the administrative officer; h. incomplete and incorrect application documents verified by the officer shall be returned to the Company online through SPIPISE; i. incomplete and incorrect application documents verified by the officer shall be given technical clarifications in the form of technical meetings and/or visits to the project site; j. the result of the technical clarification: 1. shall be issued a receipt if the application may be processed in accordance with the provisions;

82 2. shall be returned to the Company online through SPIPISE if it cannot be processed in accordance with the provisions; or 3. the application is rejected because it does not comply with the provisions, k. for results of technical clarification as referred to in point j number 2, the Company shall be given no later than five (5) business days to complete and submit documents back online by SPIPISE to the Central PTSP of BKPM; l. in the event the Company has complied and completed the document as referred to in point k, it shall be issued a receipt; m. in the event the Company does not comply with the provisions as referred to in point i, the application shall be rejected; n. the completion of the facility application shall be no later than five (5) business days from the issuance of the receipt as referred to in point j number 1 and point l;

83 o. settlement of rejection of application as referred to in point j no 3 and point m shall be no later than three (3) business days. (2) Submission of application as referred to in paragraph (1) for import duty the facility on machinery for import of machinery for construction/development (expansion) or for import of machinery for development (restructuring/modernization/rehabilitation), shall be signed on duly stamped paper by the directors/head of the company and affixed with the company seal, equipped with form corresponding with formats as set forth in Appendix XXV that forms inseparable part hereof. (3) Submission as referred to in paragraph (1) for the determination of changes in facility on import of machinery with an explanation reasons for the change, shall be signed on duly stamped paper by the directors/head of the company and affixed with the company seal, equipped with form corresponding with formats as set forth in Appendix XXVI that forms inseparable part hereof

84 (4) Submission of application as referred to in paragraph (1) for the extension of the term of facility on the import of machinery shall be done before the expiry of the facility, along with an explanation of reasons to the completion of the realization of the import of machinery, shall be signed on duly stamped paper by the directors/head of the company and affixed with the company seal, equipped with form corresponding with formats as set forth in Appendix XXVII that forms inseparable part hereof. (5) Submission of application as referred to in paragraph (1) for an extended period of time on the import of machinery facilities made after the expiry of the facility, shall be signed on duly stamped paper by the directors/head of the company and affixed with the company seal, equipped with form corresponding with formats as set forth in Appendix XXV and Appendix XXVII that forms inseparable part hereof. (6) Submission of application as referred to in paragraph (1) to move the location of the

85 machineries imported shall be done offline to Central PTSP of BKPM, accompanied by an explanation of reasons to move the location on the machineries, shall be signed on duly stamped paper by the directors/head of the company and affixed with the company seal, equipped with form corresponding with formats as set forth in Appendix XXVIII that forms inseparable part hereof. (7) Submission of application as referred to in paragraph (1) for facility on import of goods and materials, shall be signed on duly stamped paper by the directors/head of the company and affixed with the company seal, equipped with form corresponding with formats as set forth in Appendix XXIX that forms inseparable part hereof, as well as a stamped statement signed by the management of the company stating that the machineries would be applied for the facilities of goods and materials provided that no collateral, no dispute with the other party and still in control/ownership of the company, in accordance

86 with the format specified in Appendix XXX that forms inseparable part hereof. (8) Submission of application as referred to in paragraph (1) to change the establishment of facilities for the import of goods and materials, shall include an explanation of reasons of changing facilities of goods and material, shall be signed on duly stamped paper by the directors/head of the company and affixed with the company seal, equipped with form corresponding with formats as set forth in Appendix XXXI that forms inseparable part hereof. (9) Submission of application as referred to in paragraph (1) for the extension of the term of facility of import duty on imported goods and materials shall be done before the expiry of the facility, including explanation of reasons to the completion of the realization of the import of goods and materials, shall be signed on duly stamped paper by the directors/head of the company and affixed with the company seal, equipped with form corresponding with formats as

87 set forth in Appendix XXXII that forms inseparable part hereof. (10) Submission of application as referred to in paragraph (1) for the extension of the term of facility of import duty on the import of goods and materials done after the expiry of the facilities, shall be signed on duly stamped paper by the directors/head of the company and affixed with the company seal, equipped with form corresponding with formats as set forth in Appendix XXX and Appendix XXXII that form inseparable part hereof. Article 49 Guidelines and procedures for submission of application for the facility as referred to in Article 47 paragraph (1) for company located in KPBPB Concession Agency and KEK shall be governed by a regulation of KPBPB Concession Agency and KEK Administrator, in accordance with the provisions of legislations. Article 50 (1) Exemption from import duty on machinery as referred to in Article 47 paragraph (2) shall be

88 issued for the construction and development projects. (2) Application for import duty exemption on imports of machinery as referred to in paragraph (1) shall be submitted no later than 3 (three) years from the issuance of Investment Registration/Investment Permit/Principle Permit/Principle Permit Expansion. (3) Expansion as referred to in paragraph (1) which is an additional production capacity of more than 30% (thirty percent) shall be classified as business expansion. (4) Development as referred to in paragraph (1) conducted by company that already have a Business License/Expansion Permit and did not result in changes in production capacity that exceeds 30% (thirty percent) shall be classified as restructuring/modernization/rehabilitation. Article 51 (1) Exemption of import duty on machinery shall be given to company that already had Investment Registration/Principle Permit/Investment License either new investments, expansion, or changes

89 issued by BKPM, or Provincial DPMPTSP, or Regency/Municipal DPMPTSP. (2) Company in the implementation of Investment may use domestic and/or import machineries. (3) Company that already had Investment Registration/Principle Permit/Investment License either new investments, expansion, or changes as referred to in paragraph (1): a. for industrial businesses that produce goods may be granted exemption from import duty on machinery as well as goods and materials; and/or b. for industrial businesses that produce services may be granted exemption from import duty on machinery. (4) Exemption of import duty as referred to in paragraph (3) may be given to machinery, goods, and materials derived from KPBPB Concession Agency, KEK, or Bonded Hoarding. (5) Provision of facilities as referred to in paragraph (3) shall refer to the Regulation of the Minister of Finance on the exemption of import duty on machinery as well as goods and materials for the

90 construction or development of the industry for investment. (6) Import duty facility on imports of machinery as referred to in paragraph (1) shall be given as long as the machineries: a. not produced in the country; b. already produced in the country but does not meet the required specifications; or c. already produced in the country but insufficient number of industries, based on engine list established by the ministry responsible for industrial affairs. (7) For machineries that do not comply with the provisions as referred to in paragraph (5) it may be given import duty facility after getting the technical recommendations of the ministry responsible for industrial affairs. (8) Provision of the import duty exemption on machinery expires after the date of issuance of Business License/Expansion Permit on the implementation of the Investment Registration/Principle Permit/Investment License

91 either new investments, expansion, or changes as referred to in paragraph (1). Article 52 (1) Imported machinery as referred to in Article 47 paragraph (2) point a may be in the form of new machineries and/or non-new machineries. (2) Importing of non-new machinery as referred to in paragraph (l) shall comply with the provisions stipulated in the Regulation of the Minister of Trade and Regulation of the Minister of Industry. Article 53 (1) Company that already had Business License/Permit Expansion and will carry out restructuring/modernization/rehabilitation that will result in changes in production capacity does not exceed 30% (thirty percent) of the capacity of production license as stipulated in the Business License/Expansion Permit, may be granted exemption from import duty on machinery. (2) Exemption from import duty on machinery as referred to in paragraph (1) does not include goods and materials

92 (3) Company whose Business License is issued by the Ministry/LPNK/Provincial DPMPTSP/Regency or Municipal DPMPTSP/KPBPB Concession Agency/KEK Administrator may apply for machinery import facilities for the restructuring/modernization/rehabilitation. (4) Company applying for facility on import of machinery for the restructuring/modernization/rehabilitation shall be subject to direct survey to project site. Article 54 (1) The decision of exemption from import duty as referred to in Article 51 and Article 53 is subject to changes. (2) Changes as referred to in paragraph (1) include: a. change, replacement and/or addition of machineries; b. change, replacement of HS Code of machineries; c. change, replacement of machinery technical specifications; d. changes in the value of the machineries; e. change, replacement of the machinery unit;

93 f. change, replacement and/or addition of details of the machineries; g. change, replacement and/or addition of port of unloading; h. change, replacement and/or addition of countries of loading; i. change, replacement and/or addition of project site; and/or j. corporate entity data changes. (3) Changes to the decision to grant the facility as referred to in paragraph (2) may only be done in the event: a. the machineries has not been imported, yet to obtain number of registration (Nopen) on the Import Declaration (PIB); and b. still in the period of exemption. (4) To clarify the validity of the data as referred to in paragraph (3) point a, it may first be done clarification to the Directorate General of Customs and Excise. (5) Application for change on determination of the provision of import duty facility on machinery may be filed after three (3) months from the issuance

94 of the determination of import duty facility on the machineries. (6) Application for change on determination of the provision of import duty facility on machinery may be submitted before the three (3) months from the issuance of the determination of import duty facility on the machineries by attaching the following requirements: a. Bill of Lading (B/L) or Air Waybill (AWB); b. Packing list; c. invoice; d. Contract; and/or e. Technical explanations. Article 55 (1) The period of validity of import duty facility on the import of machinery is given maximum two (2) years from the issue of decisions of import duty facility on import of machineries. (2) In the event the completion time of the project on Investment Registration/Principle Permit/Investment License is less than 2 (two) years, the term of the facility of import duty on

95 machinery as referred to in paragraph (1) shall be given for the rest of the project completion time. (3) Period as referred to in paragraph (1) may be extended each year maximum in accordance with the completion time of the project as specified in the Investment Registration/Principle Permit/Investment License either new investments, expansion, or changes. (4) Application for extension of facilities as referred to in paragraph (3) must be submitted no later than 30 (thirty) days prior to the expiration date of the facility of import duty on imported machinery. (5) In the event submission of extension of time of provision of facilities of import duty on machinery is made after the expiry of the facility, the facility of import duty on the rest of the machineries may be supplied though re-establishment from the stipulated date and is valid until: a. 1 (one) year less the late submission; or b. the completion time of the project as stated in the Investment Registration/Principle Permit/Investment License either new

96 investments, expansion, or changes less the late submission. (6) Against submission as referred to paragraph (5), Central PTSP of BKPM may first clarify it to the Directorate General of Customs and Excise, and if necessary a visit to the project site. (7) The period of validity of import duty facility on the import of machinery for the development of restructuring/modernization/rehabilitation shall be given for maximum 2 (two) years from the issue of a decision and cannot be extended. (8) The period of completion of projects as set forth in the Investment Registration/Principle Permit/Investment License either new investments, expansion, or changes upon submission of application for the import facility is still valid so that it can accommodate the import facility period as referred to in paragraph (5). Article 56 (1) Machineries that have obtained exemption from import duty as referred to in Article 51 and Article 53, shall be used in accordance with the purpose of revenue by the relevant company in the

97 locations listed in the Decree of the Minister of Finance on Determination of exemption from import duty Facility on import of machinery. (2) Machineries as referred to in paragraph (1) may be transferred to the mechanism as stipulated in the Regulation of the Director General of Customs and Excise. (3) Transfer as referred to in paragraph (2) in the event re-export shall be done after first obtaining the recommendation from the alienation of Central PTSP of BKPM. (4) Machineries as mentioned in paragraph (1) may be removed from the location listed in the Ministry of Finance Decree on Determination of the Provision of exemption from import duty Facility on import of machinery to a new location within the same legal entity. (5) The new location as referred to in paragraph (4) shall be in accordance with the project site listed in the Investment Registration/Principle License/Investment License either new, expansion, changes, or Business License/Extension Permit

98 (6) Application to move the location on the machineries that has been imported as referred to in paragraph (4) shall be submitted offline to Central PTSP of BKPM. (7) Against the application as referred to in paragraph (6), where required, it may be done visit to the project site. Article 57 (1) Company that already had Business License/Extension Permit, may be given the facility of import duty on the import of goods and materials as the raw material requirements of two (2) years of the production of: a. the use of machineries that have obtained exemption from import duty on the Minister of Finance; and/or b. the use of imported production machinery purchased in the country. (2) Application for facility of import duty on imported goods and materials as referred to in paragraph (1) shall be submitted no later than 2 (two) years from the issuance of Business License/Expansion Permit

99 (3) Company that already had Business License/Expansion Permit and use machineries with Domestic Component at least 30% (thirty percent) as declared by the minister in charge of industrial affairs or his representative, shall be given the facility of import duty on goods and materials as a raw material for the needs of 4 (four) years production. (4) Application for facility of import duty on imported goods and materials as referred to in paragraph (3) shall be submitted no later than 3 (three) years from the issuance of Business License/Expansion Permit. (5) The company applying for import facilities for goods and materials is subject to direct visit to the project site. Article 58 (1) Exemption from import duty on imported goods and materials as referred to in Article 57 is subject to changes. (2) Changes of decision as referred to paragraph (1) include: a. change/replacement of goods and materials;

100 b. change, replacement of HS Code of goods and materials; c. change/replacement of technical specifications of goods and materials; d. changes in the value of goods and materials; e. change, replacement, and/or addition of port of unloading; and/or f. change, replacement and/or addition of countries of loading. (3) Changes to the decision of the provision of facilities as referred to in paragraph (2) may only be done if: a. goods and materials have not been imported, and yet to obtain number of registration (Nopen) on the Import Declaration (PIB); and b. still in the period of exemption. (4) Changes of decision as referred to in paragraph (2) do not change the total quantity of goods and materials that have been approved. (5) Application for change/replacement of import facilities for goods and materials is subject to direct survey to the project site. Article

101 (1) Import duties Facilities on imported goods and materials shall be given import period of 2 (two) years. (2) The Company that failed to complete its imports within 2 (two) years may be granted an extension of time of the import. (3) Extension of the import period as referred to in paragraph (2) shall be granted 1 (once) for the import of maximum 1 (one) year after the expiration of import and cannot be extended. (4) Company using domestic machineries with Domestic Component least 30% (thirty percent) with import period of goods and materials shall be given at one time maximum 4 (four) years from the date the decision on import duty facility on the import of goods and materials. (5) Company as referred to in paragraph (4) which import used specifically for the goods and materials are arranged in the import regulation is based on Regulation of the Minister responsible for trade and has not yet completed its imports in a period of 4 (four) years may be granted an extension of 1 (one) times for the import period

102 maximum 1 (one) year after the issuance of the Decree on Extension of period of import and cannot be extended. (6) Submission of application for extension of period of import of goods and materials as referred to in paragraph (3 ) and (5) must be submitted no later than 30 (thirty) days before the period of validity of import duty facility on the import of goods and materials expires. (7) Provision of extension of period as referred to in paragraph (5) with taking into account the amount of goods and materials to the production needs of a maximum of 1 (one) year and pay attention to the allocations of quotas granted by the minister responsible for the field of trade. (8) In the event of submission for extension of import duty facility on the import of goods and materials as referred to in paragraph (3) is made after the expiry of the facility, the facility of import duty on the rest of the goods and materials that have not been realized may be provided through the i- setting back from the stipulated date and valid up to one (1) year period minus the late submission

103 (9) Against the submission as referred to in paragraph (8) Central PTSP of BKPM may clarify prior to Directorate General of Customs and Excise, and if necessary may be a visit to the project site. Paragraph 2 Terms and Procedures of Provision of Import Duty Facility on Import of Capital Goods for Development or Expansion of Power Plant Industry for Public Interest Article 60 Enterprises engaged in Power Generation Industries for Public Interest that have had Investment Registration/Principle Permit/Investment License either new investments, expansion, as well as changes and IUPTL may apply for an exemption from import duty on capital goods. Article 61 (1) The procedures of submission of application for the facility as referred to in Article 48 paragraph (1) applies in mutatis mutandis basis to the provisions concerning the procedures for submission of application for exemption from

104 import duty on capital goods as referred to in Article 60. (2) The submission of the application as referred to in paragraph (1) for the facilities for the import of capital goods shall be signed on duly stamped paper by the directors/head of the company and affixed with company seal, by enclosing form in accordance with the format set forth in Appendix XXXIII that forms inseparable part hereof; (3) The application as referred to in paragraph (1) to change the establishment of facilities for the import of capital goods, accompanied by an explanation of reasons change in import of capital goods, shall be signed on duly stamped paper by the directors/head of the company and affixed with company seal, by enclosing form in accordance with the format set forth in Appendix XXXIV that forms inseparable part hereof. (4) Submission of application as referred to in paragraph (1) for the extension of the term of facility of import duty on capital goods, accompanied by an explanation of reasons have not been completed with the import of capital

105 goods such, shall be signed on duly stamped paper by the directors/head of the company and affixed with company seal, by enclosing form in accordance with the format set forth in Appendix XXXV that forms inseparable part hereof. (5) Exemption of import duty for the Power Generation Industry as referred to in Article 60, may be given to enterprises: a. PT Perusahaan Listrik Negara (Persero) (PT PLN (Persero)); or b. IUPTL holder. (6) IUPTL holder as referred to in paragraph (5) point b shall include: a. IUPTL holder who have a business area; b. IUPTL holder for power generation enterprises that have a pact of electricity trading (Power Purchase Agreement (PPA)) with PT PLN (Persero) stating all electricity generated will be purchased by PT PLN (Persero); c. IUPTL holder for power generation enterprises that have an agreement of the lease (Finance Lease Agreement (FLA)) with PT PLN (Persero); or

106 d. IUPTL holder for power generation enterprises that have a power purchase agreement with the holder of IUPTL which has its business areas, stating se shed electricity generated will be purchased by holders IUPTL which has its business areas. (7) Application as referred to in paragraph (1) shall be accompanied by Import Plan of Goods (RIB) Needs Project has been approved and validated by Director General of Electricity, Ministry of Energy and Mineral Resources. Article 62 (1) Exemption from import duty as referred to in Article 60 is subject to changes. (2) Changes decision as referred to in paragraph (1) include: a. change, replacement and/or addition of Capital Goods; b. change, replacement of HS Code of Capital Goods; c. change, replacement of technical specification of capital goods;

107 d. change, replacement and/or addition of port of entry; e. change, replacement and/or addition of countries of loading; f. changes in the value of capital goods; g. change, replacement of unit of Capital Goods; h. change, replacement and/or addition of details of Capital Goods; i. change, replacement and/or addition of project sites; and/or j. corporate entity data changes. (3) Changes to the facility of import duty as referred to in paragraph (2) may only be done if: a. the machineries have not been imported, yet to obtain number of registration (Nopen) on Notice of Imported Goods (PIB); and b. still in the period of exemption. (4) Changes to the facility of import duty as referred to in paragraph (2) shall be filed with the attached Revised Import Plan (RIBP) needs projects approved and signed ratified by the Director General of Electricity, Ministry of Energy and Mineral Resources

108 Article 63 (1) Period of import of capital goods which could be given the facilities as referred to in Article 60 is given a period of 2 (two) years from the issue of the decision to grant duty exemption on imports of capital goods. (2) Duration of imports of capital goods as in paragraph (1) may be extended a maximum of twelve (12) months from the expiry of import realization expected in late apply for an extension with the import of at least 14 (fourteen) days prior to the expiration date of a decision on import duty exemption. (3) In the event of submission for extension of import duty facility for the import of B charcoal Capital as referred to in paragraph (2) is made after the expiry of the facility, the facility of import duty on the rest of the imports of capital goods unrealized be provided through the reestablishment date of its enactment and valid up to 1 (one) year period minus the late submission. (4) Against submission as referred to paragraph (3) Central PTSP of BKPM may clarify in advance to

109 the Directorate General of Customs and Excise, and if necessary may be a visit to the project site. Article 64 (1) Capital goods that may be given the facilities as referred to in Article 60 may be carried out in accordance with the transfer of the mechanism prescribed in the Regulation of the Minister of Finance regarding exemption of import duty on capital goods for the construction or development of the electric power generation industry for the general interest and the regulation of implementation. (2) Transfer of capital goods as referred to in paragraph (1) shall be done after obtaining permission from the Director General of Customs and Excise on behalf of the Minister, on the recommendation of the Head of BKPM or a designated official. (3) Terms application recommendation as referred to in paragraph (2) shall be as set forth in Appendix I that forms inseparable part hereof. Paragraph

110 Terms and Procedures of Exemption or Relief of Import Duty and/or Exemption of Value Added Tax on Imported Goods for Contract of Work and Work Agreement of Coal Mining Concession Article 65 (1) The import of goods for Contracts of Work and Coal Mining Agreement granted exemption or relief from import duty in accordance with the contract owned. (2) VAT exemption on imported coal for Coal Mining Work Contract and Work Agreement may only be granted to contractors whose contracts include the exemption of Value Added Tax on the import of goods to the Coal Mining Work Contract and Work Agreement. (3) Application for Exemption or Relief of Import Duty and/or exemption of Value Added Tax on Imported Goods for Coal Mining Work Contract and Work Agreement as referred to in paragraph (1) and paragraph (2) shall be submitted by the owner of the Coal Mining Work Contract and Work Agreement

111 (4) The procedure of submission of application for the facility as referred to in Article 48 shall apply mutatis mutandis to the provisions regarding the procedure of application exemption or relief from import duty and/or exemption of Value Added Tax on Imported Goods for Coal Mining Work Contract and Work Agreement as referred to in paragraph (1) and paragraph (2). (5) Submission of application as referred to in paragraph (1) and paragraph (2) for exemption or reduction of import duty and/or exemption of value added tax, shall be signed on duly stamped paper by the directors/head of the company and affixed with company seal, by enclosing form of facility on import of goods capital in accordance with the format set forth in Appendix XXXVI that forms inseparable part hereof. (6) Submission of application as referred to in paragraph (1) and paragraph h (2) to change the decision of exemption or reduction of import duty and/or exemption of value added tax on imported goods, accompanied by an explanation of reasons changing facilities imported goods, shall be signed

112 on duly stamped paper by the directors/head of the company and affixed with company seal, by enclosing form of facility on import of goods capital in accordance with the format set forth in Appendix XXXVII that forms inseparable part hereof. (7) Submission of application as referred to in paragraph (1) and paragraph (2) for extension on exemption or relief from import duty and/or exemption of Value Added Tax on Imported Goods, accompanied by an explanation of reasons to the completion of the realization of the import of goods, shall be signed on duly stamped paper by the directors/head of the company and affixed with company seal, by enclosing form of facility on import of goods capital in accordance with the format set forth in Appendix XXXVIII that forms inseparable part hereof. (8) The application as referred to in paragraph (3) shall be filed by enclosing Master list recommendation of the Director General of Mineral and Coal, Ministry of Energy and Mineral Resources

113 Article 66 (1) On exemption or reduction of import duty on imported goods and/or exemption of Value Added Tax on the import of goods to the Coal Mining Work Contract and Work Agreement to contractors whose contracts include the exemption or reduction of import duty and/or exemption of Value Added Tax on the import of goods for Coal Mining Work Contract and Work Agreement as referred to in Article 65 may be changed. (2) Changes to decision as referred to in paragraph (1) include: a. change, replacement and/or addition of goods; b. change, replacement of HS Code of goods; c. change, replacement of technical specifications of goods; d. change, replacement and/or addition to the port of unloading; e. change, replacement and/or addition of countries of loading; f. changes in the value of the goods; g. change, replacement of unit of goods;

114 h. change, replacement and/or addition of details of the goods; and/or i. change, replacement and/or addition of project site. (3) Changes as referred to in paragraph (2) may only be done if: a. the goods have not been imported, yet to obtain number of registration (Nopen) on the Import Declaration (PIB); and b. still in the period of exemption. (4) Changes as referred to in paragraph (2) submitted by attaching a Point of Recommendation which has been approved and validated by the Director General of Mineral and Coal, Ministry of Energy and Mineral Resources. Article 67 (1) The period of the exemption or relief from import duty and/or VAT exemption refers to the provisions of the Coal Mining Work Contract and Work Agreement. (2) The period of provision of facilities as referred to in paragraph (1) shall be conducted every year and ends on December 31 of the current year

115 (3) The period of provision of facilities as referred to in paragraph (2) may be extended based on recommendations from the Director General of Mineral and Coal, Ministry of Energy and Mineral Resources. Article 68 (1) Imported goods receiving facilities: a. Exemption or reduction of import duty; and/or b. Value Added Tax Exemption, for Coal Mining Work Contract and Work Agreement as referred to in Article 65, may be transferred, re-exported, or destroyed. (2) Imported goods that will be transferred, reexported, or destroyed as referred to in paragraph (1) shall be conducted in accordance with the mechanism set out in the Regulation of the Minister of Finance regarding the exemption or relief of import duties and/or exemption of value added tax on imported goods to Coal Mining Work Contract and Work Agreement and implementation regulation

116 (3) Application as referred to in paragraph (2) is equipped with a recommendations letter from the Investment Coordinating Board, in the event alienation made after two (2) years to 5 (five) years from the date of import customs notification. Paragraph 4 Procedures of Application for Recommendation of Transfer/Re-Export/Destruction Article 69 (1) The procedures of application for transfer/reexport/destruction filed by the company/entity as referred to in Article 56 paragraph (3), Article 64 paragraph (2), and Article 68 paragraph (3), namely: a. corporate/business entities submit application documents of recommendation of transfer/reexport/destruction offline to Central PTSP of BKPM; b. application documents as referred to in paragraph a shall be verified by administrative officer. c. application documents verified by the officer if not considered complete and correct, the

117 application documents shall be returned to the Company/Enterprise; d. for application documents of Company/Enterprises that have been complete and correct it shall be issued recommendation of transfer/reexport/destruction within 5 (five) business days; and e. settlement of rejection of application as referred to in point c shall be no later than three (3) business days. (2) Submission of application as referred to in paragraph (1) for: a. recommendation of transfer for re-exports of machinery under facilities already imported; and b. recommendation of transfer for re-export of capital goods, shall be accompanied by an explanation of reasons of transfer for re-export on the machineries, signed on duly stamped paper by the directors/head of the company and affixed with the company seal, by enclosing form in

118 accordance with the format as set forth in Appendix XXXIX that forms inseparable part hereof. (2) Submission of application as referred to in paragraph (1) for a recommendation transfer, reexport, or destruction of the imported goods that get exemption or reduction of import duty and/or exemption value added tax of imports of goods, accompanied by an explanation of reasons transfer, signed on duly stamped paper by the directors/head of the company and affixed with the company seal, by enclosing form in accordance with the format as set forth in Appendix XL that forms inseparable part hereof. Paragraph 5 Issuance of Decree on Import Duty Exemption Facility Article 70 (1) In case the application for the provision of facilities, as referred to in Article 48 paragraph (2), Article 48 paragraph (3), Article 48 paragraph (4), Article 48 paragraph (5), Article 48 paragraph (6), Article 48 paragraph (7), Article 48 paragraph (8), Article 48 paragraph (9), Article 48 paragraph

119 (10), Article 61 paragraph (2), Article 61 paragraph (3), Article 61 paragraph (4), Article 65 paragraph (5), Article 65 paragraph (6), and Article 65 paragraph (7) is approved, the Head of BKPM or appointed official shall, on behalf of the Minister of Finance, issue Decree on Provision of Facilities. (2) The form of the Decree on Provision of Facilities as referred to in: a. Article 48 paragraph (2) shall be as set forth in Appendix XLI that forms inseparable part hereof; b. Article 48 paragraph (3) shall be as set forth in Appendix XLII that forms inseparable part hereof; c. Article 48 paragraph (4) as set forth in Appendix XLIII that forms inseparable part hereof; d. Article 48 paragraph (5) shall be as set forth in Appendix XLIV that forms inseparable part hereof;

120 e. Article 48 paragraph (6) as set forth in Appendix XLV that forms inseparable part hereof; f. Article 48 paragraph (7) as set forth in Appendix XLVI that forms inseparable part hereof; g. Article 48 paragraph (8) as set forth in Appendix XLVII that forms inseparable part hereof; h. Article 48 paragraph (9) shall be as set forth in Appendix XLVIII that forms inseparable part hereof; i. Article 48 paragraph (10) as set forth in Appendix XLIX that forms inseparable part hereof; j. Article 61 paragraph (2) shall be as set forth in Appendix L that forms inseparable part hereof; k. Article 61 paragraph (3) shall be as set forth in Appendix LI that forms inseparable part hereof;

121 l. Article 61 paragraph (4) as set forth in Appendix LII that forms inseparable part hereof; m. Article 65 paragraph (5) shall be as set forth in Appendix LIII that forms inseparable part hereof; n. Article 65 paragraph (6) as set forth in Appendix LIV that forms inseparable part hereof; and o. Article 65 paragraph (7) as set forth in Appendix LV that forms inseparable part hereof. (3) In the event the application is rejected, the Head of BKPM or officials appointed on behalf of the Minister of Finance shall issue a Letter of Rejection of Provision of Facility by specifying the reasons for the rejection. (4) Form of Rejection Letter of Provision of Facilities as referred to in paragraph (3) shall be as set forth in Appendix LVI that forms inseparable part hereof. Paragraph

122 Issuance of Recommendation of Transfer/Re- Export/Destruction Article 71 (1) In the event of the application for recommendation as referred to in Article 69 was approved, issued on transfer/re-export/destruction. (2) Form of Recommendation of Transfer/Re- Export/Destruction as referred to in paragraph (1) shall be as set forth in Appendix LVII and Appendix LVIII that forms inseparable part hereof. (3) In the event of the application as referred to in Article 69 is rejected, the Head of BKPM or appointed official shall issue Letter of Rejection by specifying the reasons for rejection. (4) Form of Rejection Letter as referred to in paragraph (3) shall be as set forth in Appendix LIX that forms inseparable part hereof. Section Two Terms and Procedures of Application for Corporate Income Tax Facilities for Investment in Certain Business Fields and/or in Certain Regions Article

123 (1) Tax Allowance may be granted to taxpayers who do investment, either new investment or expansion of existing businesses in: a. Certain Business Fields; and/or b. Certain Business Fields and Certain Regions, provided in Regulation Government regulating income tax facilities for investment in Certain Business Fields and/or in Certain Regions. (2) Application for Tax Allowance as referred to in paragraph (1) shall be submitted by taxpayers who already had Investment Registration/Principle Permit/Investment License either new, expansion, or changes issued by the One-Stop Center at BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK. (3) Application for Tax Allowance as referred to in paragraph (1) shall be submitted by the taxpayer offline to Central PTSP of BKPM using the application form set forth in Appendix LX that forms inseparable hereof by enclosing requirements as set forth in Appendix I that forms inseparable part hereof. Article

124 (1) The documents as referred to in Article 72 paragraph (3) shall be submitted to the Front Officer of Central PTSP of BKPM for verification. (2) In conducting the verification as referred to in paragraph (1), Front Officer of Central PTSP of BKPM may request further clarification to the taxpayer on the application being submitted. (3) Based on the clarification Taxpayer as referred to in paragraph (2), if the Investment License is issued by other agencies authorized by Legislations, Front Officer of Central PTSP of BKPM may request further clarification from the institution issuing the investment license. (4) Based on the clarification as referred to in paragraph (2) and paragraph (3), it is made the clarification outcome document namely a document that is inseparable from the application submitted by the taxpayer. (5) Based on the results of the clarification document as referred to in paragraph (4): a. Technical Ministry shall issue Certificate of compliance with quantitative requirements set out in the Regulation of the Minister of

125 Technical concerning the implementation of Regulation of Government governing income tax facility for Investment in Certain Business Fields and/or in Certain Regions; b. Central PTSP of BKPM/Provincial DPMPTSP, Regency/Municipal DPMPTSP, shall issue Change to Investment Registration/Principle Permit/Investment License if necessary; c. Taxpayers complement other data, if necessary, with a maximum period of 5 (five) business days from the receipt of clarification of Central PTSP of BKPM. (6) In case a period of 5 (five) business days as referred to in paragraph (5) is not met, the application shall be returned to the Taxpayer. (7) In the event the application is complete and correct, Central PTSP of BKPM shall issue a receipt of the application using the format set forth in Appendix LXI that forms inseparable part hereof. Article 74 (1) In the event application is complete and correct to follow up, the agency will hold a meeting of the Trilateral inviting level officials Echelon-I or a

126 representative of the Ministry of Finance cq Director General of Tax and Advisor to the Minister of Finance and Technical Ministries in accordance with the business concerned in the application. (2) Trilateral meeting resulted in an agreement set forth in the minutes using the format set forth in Appendix LXII which was signed by all participants of the meeting contained decision stating that the Head of BKPM or appointed official: a. approve the application of the taxpayer to submit the proposal for the provision facilities of Tax Allowance at the request of the taxpayer to the Minister of Finance through the Director General of Taxes; or b. reject the application of the Taxpayer. Article 75 (1) In the event the application of the taxpayer is approved as referred to in Article 74 paragraph (2) point a, Head of BKPM or appointed official shall issue proposal letter of provision of Tax Allowance to the Finance Minister through the Director General of Taxation

127 (2) Proposal of provision of Tax Allowance as referred to in paragraph (1) and all documents as referred to in Article 72 paragraph (3) and Article 73 paragraph (5), shall be delivered no later than three (3) business days from the date of convening the Trilateral Meeting. (3) The form of the proposal of provision of Tax Allowance shall be as set forth in Appendix LXIII that forms inseparable part hereof. Article 76 (1) In the event the application of taxpayer is rejected as referred to in Article 74 paragraph (2) b, the Head of BKPM or appointed officials shall issue a Rejection Letter within a maximum period of three (3) business days of Trilateral Meeting. (2) The form of Rejection Letter of application as referred to in paragraph (1) is contained in Appendix LXIV that forms inseparable part hereof. Article 77 (1) In the event the Trilateral Meeting cannot made decision to approve or reject the application of Taxpayer as referred to in Article 74 paragraph (2), BKPM shall hold further trilateral meetings

128 (2) Further Trilateral Meeting as referred to in paragraph (1) resulted in an agreement set forth in the minutes using the format set forth in Appendix LXII that forms inseparable hereof, which is signed by all participants containing a decision stating that the Head of BKPM or officer appointed: a. approve the taxpayer application to submit proposal for the provision of Tax Allowance at the request of the taxpayer to Minister of Finance through the Director General of Taxation; or b. reject the application of Taxpayer. Article 78 (1) In case further Trilateral Meeting decides to approve the application of taxpayer as referred to in Article 77 paragraph (2) point a, the provisions of Article 75 applies on mutatis mutandis basis. (2) In case further Trilateral Meeting decides to reject the application of taxpayer as referred to in Article 77 paragraph (2) b, provisions of Article 76 applies on mutatis mutandis basis Article 79

129 The decision of Trilateral Meeting as referred to in Article 77 paragraph (2) shall be made at least 15 (fifteen) days after the clarification as referred to in Article 73 paragraph (3) received in the Central PTSP BKPM. Section Three Terms and Procedures of Application for Exemption or Relief of Corporate Income Tax Article 80 (1) Tax Holiday may be given to taxpayer who perform new investment included as Pioneer Industry. (2) Pioneer Industry as referred to in paragraph (1), includes: a. Upstream metal industry; b. Petroleum refining industry or industry and infrastructure of petroleum refining, including those using the scheme of the Government and Enterprises Cooperation (KPBU); c. Organic basic chemicals Industry derived from petroleum and natural gas; d. Machinery Industry that produces industrial machinery;

130 e. Agricultural, forestry, and fishery productbased processing industry; f. Telecommunications, information, and communication industry; and/or g. Marine transportation industry. (3) Taxpayer as referred to in paragraph (1) may be given Tax Holiday who meet the following criteria: a. new taxpayer; b. make new investment in pioneer industry; c. has plans of new investment that obtain authorization from the competent authority, at least Rp ,00 (one trillion rupiah) or for pioneer industry as referred to in paragraph (2) at least Rp ,00 (five hundred billion rupiah) and meet the requirements of introducing high technology (high tech); d. comply with the provision on the ratio between debt and capital, as referred to in Regulation of the Minister of Finance on the determination of the ratio between debt and capital company for the purposes of calculating the income tax;

131 e. submit a statement of willingness to place funds in banks in Indonesia at least 10% (ten percent) of the total planned investment as referred to in letters c and these funds are not withdrawn prior to the commencement of the implementation of the realization of the investment; f. have a status of Indonesian corporation whose ratifications set since or after 15 August 2011; and g. in the event taxpayer as referred to in paragraph (1) are owned directly by domestic and/or foreign taxpayers in the form of fixed establishment, in addition to meeting the criteria as referred to in paragraph (1) domestic and/or foreign taxpayer in the form of fixed establishment must have a fiscal certificate issued by the Directorate General of Taxation with the provisions governing the procedures of granting fiscal certificate. Article 81 (1) Application for Tax Holiday filed by the taxpayer offline to Central PTSP of BKPM shall enclose

132 documents as set forth in Appendix I that forms inseparable hereof in the form of: a. application signed on duly stamped paper by the board of Taxpayer in accordance with the format as set forth in Appendix LXV that forms inseparable part hereof; b. Records on Investment Registration/Principle Permit/Investment License and the amendments issued by the Central PTSP BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK; c. record of establishment deed of the company and/or the amendments that have secured approval/notification of the Ministry of Justice and Human Rights; d. Record of Taxpayer Identification Number that has been subject to KSWP Agency in accordance with the provisions of legislations; e. review of criterion of pioneer industry; f. the original of letter of undertaking to put funds in banks in Indonesia as referred to in Article 80 paragraph (3) point e;

133 g. the original of certificate of fiscal for Taxpayers who comply with the provisions in Article 80 paragraph (3) point g; h. explanation of sources of financing of the company's investment with the supporting documents; i. explanation of regulatory compliance of ratio between the debt and the amount of capital as referred to in the Regulation of the Minister of Finance on the determination of the ratio between debt and capital company for the purposes of calculating the income tax; and j. power of attorney, duly stamped, if the applications is not done directly by the board of the taxpayers. (2) The provisions as referred to in paragraph (1) point g does not apply In the event of corporate taxpayer: a. owned directly by the Central Government or Local Government; and/or b. the ownership consist of shares listed with exchanges in Indonesia

134 Article 82 (1) Application documents for Tax Holiday shall be submitted offline to Central PTSP of BKPM. (2) The documents as referred to in paragraph (1) shall be subject to verification of fulfillment of requirements. (3) Based on the clarification of Taxpayer as referred to in paragraph (2), if the Investment License is issued by other competent authorities in accordance with the provisions of legislations, Front Officer of Central PTSP of BKPM may request further clarification of the issuer of investment license. (4) In the event the decision of clarification of compliance of requirements holds the application documents are complete and correct, it shall issue a receipt of application using the format as set forth in Appendix LXVI that forms inseparable part hereof. (5) Follow-up of the clarification of eligibility as referred to in paragraph (2), it shall be carried out a technical clarification meetings in the presence of the taxpayer, representatives of the Ministry of

135 Technical/LPNK, Ministry of Finance, experts, academics and associations in accordance with the business field concerned. (6) Based on the clarification of eligibility as referred to in paragraph (2) and technical clarification meeting as referred to in paragraph (4), it shall be conducted meeting decision to accept or reject the application. (7) After further investigation, the fulfillment of the requirements as referred to in paragraph (2), the meeting for clarification of technical as referred to in paragraph (5), and a decision-making meeting as referred to in paragraph (6) each set forth in Minutes signed by all meeting participants using the format listed in appendix LXVII that forms inseparable part hereof. (8) In case the meeting for taking decision as referred to in paragraph (6) decided to accept the application, the Head of BKPM or appointed official shall issue proposal for the provision of Tax Holiday to Finance Minister through the Director General of Taxation using the format set forth in

136 Appendix LXVIII that forms inseparable part hereof. (9) In case the meeting for taking decision as referred to in paragraph (6) decided to reject the application, the Head of BKPM or appointed official shall issue Rejection Letter using the format set forth in Appendix LXIX that forms inseparable part hereof. Article 83 (1) The term of the clarification process until the issue of the proposal or accept/reject a maximum of 25 (twenty five) business days after the issuance of a receipt. (2) If in the process of technical clarification there is a shortage of documents that must be completed by the taxpayer but by the deadline stated in the Minutes of the Technical Clarification Taxpayers cannot complete the additional documents in question, the application is returned to Taxpayer. Article 84 Against Taxpayers who at the time of submission of application for the provision of facilities Exemption or Reduction of Corporate Income Tax/Tax Holiday has

137 also been chosen to be awarded Income Tax facilities based on government regulation governing income tax facilities for investment in Certain Business Fields and/or Certain Regions provisions shall apply: a. In the event of an application for Tax Holiday rejected by the Minister of Finance: 1. Facilities may apply the Tax Allowance in accordance with the application procedures set out in the Regulation The agency with a point of refusal to grant Tax Holiday of the Minister of Finance; and 2. application to get Tax Allowance as referred to in item 1 using the Application for Tax Holiday which has been rejected. b. The taxpayers concerned in the event an application for Tax Holiday: 1. Taxpayers may submit application for Tax Allowance by enclosing letter from the taxpayer to the Head of BKPM or appointed official with a copy of the statement of Finance Minister concerning statement of withdrawal of application for Tax Holiday; and

138 2. procedures of application for Tax Allowance as referred to in item 1 refers hereto. CHAPTER VIII TERMS AND PROCEDURES OF ISSUANCE OF API PROVISION OF IMMIGRATION FACILITIES Section One Terms and Procedures of Application for API Paragraph 1 General Article 85 (1) Imports of goods may only be done by importers who have API (2) API only be held by the company's headquarters. (3) Each importer only have one (1) type of API and Signing Card Authorization API is the Board of Directors and the Board of Directors. (4) API applies since established and applied to each import activity in all regions of Indonesia (5) API application filed using API form, in accordance with the provisions of legislations regarding the importer identification number, to:

139 a. Central PTSP of BKPM for PMA/PMDN under the authority of government; b. Provincial DPMPTSP for the PMDN under the authority of the region; and c. KPBPB Concession Agency for PMA/PMDN incorporated and domiciled in KPBPB Concession Agency under the authority of KPBPB Concession Agency. (6) API as referred to in paragraph (1) shall consist of: a. API-P; and b. Public API (API-U). Paragraph 2 API-P Article 86 (1) API-P is given only to company that import goods to be used alone as capital goods, raw materials, auxiliary materials, and/or materials to support the production process. (2) The imported goods as referred to in paragraph (1) is prohibited to be traded or transferred to another party

140 (3) In the event of imported goods as referred to in paragraph (2) are capital goods granted exemption from import duty and has used its own minimum of 2 (two) years from the date of import customs notification, the import goods may be transferred to other party. Paragraph 3 API-U Article 87 (1) API-U is given only to company that import certain goods for trading purposes. (2) Imports of certain goods as referred to in paragraph (1)only for groups/types of goods listed in the Trading Business License. Paragraph 4 Procedures of Application and Issuance of API Article 88 (1) Application for API as referred to in Article 86 and Article 86 brought offline to Central PTSP of BKPM, Provincial DPMPTSP or PTSP KPBPB in accordance with their authority, using the application form contained in Appendix LXX by enclosing the

141 requirements as set forth in Appendix I that forms inseparable hereof. (2) Company owning API as referred to in Article 86 and Article 87, shall re-register at the Central PTSP BKPM, Provincial DPMPTSP, or PTSP KPBPB in accordance with their authority, every five (5) years from the date of issue. (3) Re-registration as referred to in paragraph (2) shall be at least 30 (thirty) days after the period of 5 (five) years. (4) API as referred to in paragraph (1) shall be issued no later than five (5) business days from the receipt of the complete and correct application by the Head of BKPM or Head or Head of the Provincial DPMPTSP, KPBPB Concession Agency or designated official. (5) Form of API issued shall be as set forth in Appendix LXXI and Appendix LXXII that form integral part hereof. (6) In the event of the API application as referred to in paragraph (1) is rejected, the Head of BKPM or Head or Head of the Provincial DPMPTSP KPBPB

142 Exertion or appointed official Rejection Letter API made no later than five (5) business days. (7) Rejection Letter form as referred to in paragraph (6) listed in Appendix IV that forms inseparable part hereof. Paragraph 5 API Changes Article 89 (1) For any changes to the provisions stipulated in the API must apply changes to the API. (2) In the event changing the status of the company, owner of the API required to submit a report to the company's change in status of the issuer of the API as referred to in Article 85 paragraph (5) and restore the original API. (3) Application an API change as referred to in paragraph (1) shall apply to contingencies listed in Article 89. Section Two Provisions and Procedures of Application for Immigration Service Facilities Paragraph

143 General Article 90 Immigration facility in the field of investment consists of: a. RPTKA; b. IMTA; c. Recommendations for Limited Stay Visa; d. Recommendations for Change of Stay Visit Permit to Limited Stay Permit; and e. Recommendation for Change of Status of Limited Stay Permit to Permanent Stay Permit. Paragraph 2 Foreign Worker Employment Plan (RPTKA) Article 91 (1) The Company that will employ foreign workers must have RPTKA. (2) Application for approval of RPTKA, either new, renewal, or changes shall be submitted to the Central PTSP of BKPM online, in accordance with the provisions of legislations on employment. (3) Application for extension of RPTKA that does not contain a change in one (1) region of the

144 provinces submitted to the Provincial DPMPTSP offline or online, in accordance with the provisions of legislations on employment. (4) Application to obtain a decision RPTKA for KEK and KPBPB Concession Agency submitted to the authorized officials of KEK and KPBPB Concession Agency, in accordance with the provisions of legislations on employment. (5) Application for RPTKA as referred to in paragraph (2) and (3) by enclosing requirements in accordance with the provisions of legislations on labor. (6) RPTKA as referred to in paragraph (1) is used as the basis for the IMTA. (7) Decision to approve RPTKA, either new or renewal as referred to in paragraph (2) and (3) shall be issued at least 3 (three) business days from receipt of complete and correct application. (8) The decision of approval of RPTKA changes as referred to in paragraph (2) shall be issued no later than two (2) business days from the receipt of complete and correct application. Paragraph

145 License to Employ Foreign Workers (IMTA) Article 92 (1) Application for new IMTA shall be submitted to Central PTSP of BKPM using IMTA form, in accordance with the provisions of legislation on labor. (2) Application for extension of IMTA shall be submitted using IMTA form, in accordance with the provisions of legislations on labor, to: a. Central PTSP of BKPM online, for foreign workers who work in more than 1 locations of 1 (one) area of the provincial and foreign workers who work in offices; b. Provincial DPMPTSP offline or online, for foreign workers who work in locations across the territory of the regency/municipality within 1 (one) province; or c. Regency/Municipal DPMPTSP offline or online, for foreign workers in places of work in one regency/municipality. d. Application for IMTA at KEK and KPBPB shall be submitted using IMTA form offline or online to designated officials in KEK and

146 KPBPB in accordance with the provisions of legislations on labor. (3) Application for IMTA as referred to in paragraph (1) and paragraph (2) shall be by enclosing requirements in accordance with the provisions of legislations on labor. (4) IMTA as referred to in paragraph (1) and paragraph (2) shall be issued no later than three (3) business days from the receipt of complete and correct application. Paragraph 4 Recommendations of Issuance of Limited Stay Visa Article 93 (1) Recommendation for Issuance of Limited Stay Visa as referred to in Article 90 point c is Recommendation for limited stay visa not for work for foreigners who make foreign investment and requirement to obtain the approval of Limited Stay Visa. (2) Application for Recommendation of Issuance of Limited Stay Visa as referred to in paragraph (1) shall be submitted offline to Central PTSP of BKPM, using the application form contained in Appendix

147 LXXIII that forms inseparable part hereof by enclosing requirements as set forth in Appendix I that forms inseparable part hereof. (3) Recommendation for Issuance of Limited Stay Visa as referred to in paragraph (1) shall be issued no later than five (5) business days from the submission of complete and correct application. (4) Form of Limited Stay Visa Issuance recommendation as referred to in paragraph (1) shall be as set forth in Appendix LXXIV that forms inseparable part hereof. (5) In the event the application for Limited Stay Visa Issuance recommendation as referred to in paragraph (2) is rejected, the Head of BKPM or appointed official makes Rejection Letter no later than five (5) business days. (6) Form of Rejection Letter as referred to in paragraph (5) shall be as set forth in Appendix IV that forms inseparable part hereof. Paragraph 5 Recommendation for Change of Status Of Visit Stay Permit to Limited Stay Permit Article 94

148 (1) Recommendation for Change of Status from Visit Stay Permit to Limited Stay Permit as referred to in Article 90 paragraph d is a requirement for approval change of status into limited stay permit. (2) Application for Recommendation of Change of Status of Visit Stay Permit to Limited Stay Permit as referred to in paragraph (1) shall be filed in offline Central PTSP of BKPM, using the application form contained in the Appendix LXXV that forms inseparable hereof by enclosing requirements as set forth in Appendix I that forms inseparable part hereof. (3) Recommendation of Change of Status of Visit Stay Permit to Limited Stay Permit as referred to in paragraph (1) shall be issued no later than five (5) business days from the submission of a complete and correct application. (4) Form of Recommendation of Change of Status of Visit Stay Permit to Limited Stay Permit as referred to in paragraph (1) is contained in Appendix LXXVI that forms inseparable part hereof

149 (5) In the event the application for recommendation of Change of Status of Visit Stay Permit to Limited Stay Permit as referred to in paragraph (2) is rejected, the Head of BKPM or appointed official makes Rejection Letter no later than five (5) business days. (6) Form of Rejection Letter as referred to in paragraph (5) shall be as set forth in Appendix IV that forms inseparable part hereof. Paragraph 6 Recommendation for Change of Status of Limited Stay Permit to Permanent Stay Permit Article 95 (1) Recommendation for Change of Status of Limited Stay Permit to Permanent Stay Permit as referred to in Article 90 e is the requirements for approval of change of status of limited stay permit to permanent stay permit. (2) Recommendation of Change of Status of Limited Stay Permit to Permanent Stay Permit shall be granted to foreigners who meet the following criteria:

150 a. investor and serves as board of the company provided that the shareholding is at least Rp ,00 (one billion rupiah) or the equivalent in the currency of the United States dollar; or b. investor and not as the board of company with shareholding of at least Rp ,00 (ten billion rupiah) or equivalent in the currency of the United States dollar; (3) Application for Recommendation of Change of Status of Limited Stay Permit to Permanent Stay Permit as referred to in paragraph (1) shall be filed offline to Central PTSP of BKPM, using the application form contained in the Appendix LXXVII that forms inseparable hereof by enclosing requirements as set forth in Appendix I that forms inseparable part hereof. (4) Recommendation for Change of Status of Limited Stay Permit to Permanent Stay Permit as referred to in paragraph (1) shall be issued no later than five (5) business days from receipt of complete and correct application

151 (5) Form of Recommendation for Change of Status of Limited Stay Permit to Permanent Stay Permit as referred to in paragraph (1) is contained in Appendix LXXVIII that forms inseparable part hereof. (6) In the event the application for recommendation for Change of Status of Limited Stay Permit to Permanent Stay Permit as referred to in paragraph (3) is rejected, the Head of BKPM or appointed official makes Rejection Letter within 5 (five) business days. (7) Form of Rejection Letter as referred to in paragraph (5) shall be as set forth in Appendix IV that forms inseparable part hereof. CHAPTER IX SERVICE PRIORITY Section One General Article 96 (1) The implementation of accelerated Undertaking Licensing in the form of compliance with requirements (checklist) shall be conducted by:

152 a. Central PTSP of BKPM b. Provincial DPMPTSP or regency/municipal DPMPTSP in accordance with their authority for company located in Industrial Estate and KSPN; c. PTSP KPBPB; and d. PTSP KEK. (2) Industrial and tourism business Estate in KSPN as referred to in paragraph (1) point b must have a Industrial Zone Business License/Tourism Business Registration Certificate. (3) Company that has temporary Undertaking Licensing and is located in KPBPB Concession Agency, KEK, Industrial Estate, KSPN may immediately begin construction. (4) KPBPB Concession Agency and KEK as referred to in paragraph (3) shall have been declared ready for operation by the National Council of KEK/Coordinating Minister for Economic Affairs. (5) Industrial Estate as referred to in paragraph (3) shall be determined by the Head of BKPM or authorities

153 (6) KSPN as referred to in paragraph (3) shall be determined by the competent authority. Section Two Terms and Procedures of Accelerated Undertaking Licensing in KEK Paragraph 1 Terms of Accelerated Undertaking Licensing in KEK Article 97 (1) The Company shall apply for Undertaking Licensing to PTSP KEK through integrated electronic undertaking licensing system (Online Single Submission) to obtain Investment Registration as well as: a. Establishment Deed of Company and the approval by the Ministry of Justice and Human Rights; b. Taxpayer Identification Number; c. Certificate of Company Registration; d. RPTKA; e. IMTA; f. API; and g. Customs Access

154 (2) Submission of Undertaking Licensing as referred to in paragraph (1) as well as application for issuing of licenses required, in the form of commitment to fulfill the requirements (checklist) as set forth in Appendix LXXIX that forms inseparable part hereof, comprising: a. permits for construction and commercial, which include at least: 1. Environmental Management Effort and Environmental Monitoring Effort (UPL- UKL); 2. Land certificate; 3. Building Engineering/Building Permit (IMB); and 4. Business License in accordance with the provisions of the business sector. b. facilities where necessary, namely: 1. Income Tax facilities; 2. Value Added Tax or Value Added Tax and Sales Tax on Luxury Goods; 3. customs and excise facilities; 4. facilities and ease of freight traffic; 5. facilities and ease of labor;

155 6. facilities and ease of immigration; and/or 7. facilities and ease of land. (3) A commitment to compliance with the requirements (checklist) as referred to in paragraph (2) registered by KEK PTSP. (4) Investment Registration as referred to in paragraph (1) and register as referred to in paragraph (3) an temporary Undertaking Licensing to start construction activities and endeavor. (5) In the event of KEK have not been able to publish Undertaking Licensing as referred to in paragraph (1) and (2), Central PTSP of BKPM may issue a Permit Sought meant by a statement from KEK Administrator to the Head of BKPM or written assignment of the Coordinating Ministry for Economic Affairs. (6) Company must begin construction no later than 90 (ninety) days from the registered as referred to in paragraph (3). (7) The company may convey obstacles in the implementation of accelerated undertaking at KEK to the National Task Force and may be delivered to the Task Force of ministries/agencies and

156 relevant provincial Task Force through complaint service. Article 98 (1) In case for the implementation of construction and commercial it is still required other technical requirements, the company shall apply for fulfillment of technical requirements concerned to ministries/agencies through PTSP KEK. (2) PTSP KEK shall facilitate the completion of the technical licensing as referred to in paragraph (1), in coordination with the ministries/agencies. Paragraph 2 Procedures of Accelerated Undertaking Licensing in KEK Article 99 (1) Company fill out and sign the application form issuance of permits required in the form of fulfillment of requirements (checklist) as referred to in Article 97 paragraph (1) independently accompanied by the commitment and the time period of eligibility must be met

157 (2) The application form accompanied by a commitment as referred to in paragraph (1) shall be registered by KEK PTSP. (3) Based on the application, along with commitment of as referred to in paragraph (1) it shall be issued Register of Statement of Fulfillment of Requirements of Licensing at least 1 (one) business day from the receipt of the application. (4) Form of Register of Statement of Fulfillment of Requirements of Licensing as referred to in paragraph (3) shall be as set forth in Appendix LXXX that forms inseparable part hereof. (5) PTSP KEK reported the Investment Registration as referred to in Article 97 paragraph (1) and register as referred to in paragraph (2) to the Task Force on National and may be delivered to the Task Force ministries/agencies and the Task Force Provincial Related least seven (7) business days. (6) In the event the company does not fulfill whole or part of the requirements contained in the checklist and turnaround time commitment and have not started construction as referred to in paragraph (5), PTSP KEK:

158 a. gives a written warning; b. imposes suspension of Undertaking Licensing in terms of checklist; c. gives extension of time to complete the requirements that have not been met; d. suspends the activities; and/or e. revokes Undertaking Licensing temporarily. (7) An extension of time to complete the outstanding requirements as referred to in paragraph (6) c filed no later than five (5) business days prior to the expiration of the time specified in the checklist which have been registered. (8) PTSP KEK shall provide Register of Extension of Fulfillment of Requirements of Licensing on a commitment to compliance with the requirements (checklist) that have not been met as referred to in paragraph (7) within 1 (one) day after the application is received. (9) In the event that the company has complied with all the requirements contained in the form of checklist, PTSP KEK Undertaking Licensing required to publish in accordance with the provisions of legislations

159 Section Three Terms and Procedures of Accelerated Undertaking Licensing in KPBPB Concession Agency Paragraph 1 Terms of Accelerated Undertaking Licensing in KPBPB Concession Agency Article 100 (1) Undertaking Licensing submitted to the KPBPB Concession Agency in accordance with the authorities through Integrated Electronic Undertaking Licensing System (Online Single Submission) to obtain investment registration as well as: a. Establishment Deed of Company and the approval by the Ministry of Justice and Human Rights; b. Taxpayer Identification Number; c. Certificate of Company Registration; d. RPTKA; e. IMTA; f. API; and g. Customs Access

160 (2) Submission of Undertaking Licensing as referred to in paragraph (1) as well as application for issuing of licenses required, in the form of commitment to fulfill the requirements (checklist) as set forth in Appendix LXXIX that forms inseparable part hereof, comprising: a. permits for construction and commercial, which include at least: 1. Environmental Management Effort and Environmental Monitoring Effort (UPL- UKL); 2. Land certificate; 3. Building Engineering/Building Permit (IMB); and 4. Business License in accordance with the provisions of the business sector. b. facilities where required, namely: 1. Income Tax facilities; 2. facilities and ease of labor; 3. facilities and ease of immigration; and/or 4. facilities and ease of land

161 (3) A commitment to compliance with the requirements (checklist) as referred to in paragraph (2) registered by KEK PTSP. (4) Investment Registration as referred to in paragraph (1) and register as referred to in paragraph (3) a temporary Undertaking Licensing to start construction and undertaking activities. (5) Company must begin construction no later than 90 (ninety) days from the registered as referred to in paragraph (3). (6) The company may convey obstacles in the implementation of accelerated undertaking at KEK to the National Task Force and may be delivered to the Task Force of ministries/agencies and relevant provincial Task Force through complaint service. Article 101 (1) In case for the implementation of construction and commercial it is still required other technical requirements, the company shall apply for fulfillment of technical requirements concerned to ministries/agencies through PTSP KEK

162 (2) PTSP KEK shall facilitate the completion of the technical licensing as referred to in paragraph (1), in coordination with the ministries/agencies. Paragraph 2 Accelerated Undertaking Licensing Procedures in KPBPB Concession Agency Article 102 (1) Company fill out and sign the application form issuance of permits required in the form of fulfillment of requirements (checklist) as referred to in Article 100 paragraph (1) independently accompanied by the commitment and the time period of eligibility must be met. (2) The application form accompanied by a commitment as referred to in paragraph (1) shall be registered by PTSP of KPBPB Concession Agency. (3) Based on the application, along with commitment of as referred to in paragraph (1) it shall be issued Register of Statement of Fulfillment of Requirements of Licensing at least 1 (one) business day from the receipt of the application

163 (4) Form of Register of Statement of Fulfillment of Requirements of Licensing as referred to in paragraph (3) shall be as set forth in Appendix LXXX that forms inseparable part hereof. (5) PTSP of KPBPB Concession Agency reported the Investment Registration as referred to in Article 101 paragraph (1) and register as referred to in paragraph (2) to the National Task Force and may be delivered to the ministries/agencies Task Force and relevant Provincial Task Force at least seven (7) business days. (6) In the event the company does not fulfill whole or part of the requirements contained in the checklist and turnaround time commitment and have not started construction as referred to in paragraph (5), PTSP of KPBPB: a. gives a written warning; b. imposes suspension of Undertaking Licensing in terms of checklist; c. gives extension of time to complete the requirements that have not been met; d. suspends the activities; and/or e. revokes Undertaking Licensing temporarily

164 (7) An extension of time to complete the outstanding requirements as referred to in paragraph (6) c shall be filed no later than five (5) business days prior to the expiration of the time specified in the checklist which have been registered. (8) PTSP KPBPB shall provide Register of Extension of Fulfillment of Requirements of Licensing on a commitment to compliance with the requirements (checklist) that have not been met as referred to in paragraph (7) within 1 (one) day after the application is received. (9) In the event that the company has complied with all the requirements contained in the form of checklist, PTSP KPBPB Undertaking Licensing required to publish in accordance with the provisions of legislations. Section Four Terms and Procedures of Accelerated Undertaking Licensing in the Industrial Estate and KSPN Paragraph 1 Terms of Accelerated Undertaking Licensing in Industrial Estate and KSPN Article 103

165 (1) Undertaking Licensing shall be submitted to Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP in accordance with their authority through a Online Single Submission to obtain Investment Registration as well as: a. Establishment Deed of Company and the approval by the Ministry of Justice and Human Rights; b. Taxpayer Identification Number; c. Certificate of Company Registration; d. RPTKA; e. IMTA; f. API; and g. Customs Access. (2) Undertaking Licensing in the form of fulfillment of requirements (checklist) as referred to in paragraph (1), comprising: a. permits for construction and commercial, which include at least: 1. Environmental Management Effort and Environmental Monitoring Effort (UPL- UKL); 2. Land certificate;

166 3. Building Engineering/Building Permit (IMB); and 4. Industrial Business License (IUI) or Certificate of Tourism Registration (TDUP). b. facilities where required, namely: 1. Income Tax facilities; 2. Value Added Tax o Value Added Tax and Sales Tax on Luxury Goods facilities; 3. customs and/or excise facilities; 4. facilities and ease of freight traffic; 5. facilities and ease of labor; 6. facilities and ease of immigration; and/or 7. facilities and ease of land. (3) A commitment to compliance with the requirements (checklist) as referred to in paragraph (2) registered by Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP in accordance with their authority. (4) Investment Registration as referred to in paragraph (1) and register as referred to in paragraph (3) a temporary Undertaking Licensing to start construction and undertaking activities

167 (5) Company must begin construction no later than 90 (ninety) days from the registered as referred to in paragraph (3). (6) The company may convey obstacles in the implementation of accelerated undertaking at KEK to the National Task Force and may be delivered to the Task Force of ministries/agencies and relevant provincial Task Force through complaint service. Article 104 (1) In case for the implementation of construction and commercial it is still required other technical requirements, the company shall apply for fulfillment of technical requirements concerned to ministries/agencies through Central PTSP, Provincial DPMPTSP, or DPM PTSP Regency/Municipal. (2) Central PTSP, Provincial DPMPTSP, or Regency/Municipal DPMPTSP shall facilitate the completion of the technical licensing as referred to in paragraph (1), in coordination with the ministries/agencies

168 Article 105 (1) Accelerated Undertaking Licensing as referred to in Article 103 paragraph (1) may be given within a period of three (3) hours to domestic and foreign company whose licenses meet the following criteria: a. investment value of at least Rp ,00 (one hundred billion rupiah); or b. Indonesian employment of at least (one thousand) people; (2) Criteria as referred to in paragraph (1) shall be excluded for: a. certain industry, certain region or place which obtain Inland Free Trade Arrangement, in accordance with the regulation set by the Minister of Industry; b. company of certain industrial businesses that are part of the supply chain, provided that submitting an affidavit or memorandum of understanding as supplier of enterprise user of product to be produced;

169 c. company attending Tax Amnesty, provided that submitting Certificate of Tax Amnesty issued by the Finance Minister or appointed official on behalf of the Minister of Finance; d. infrastructure projects and/or the National Strategic Projects that have been established in the legislations; (3) For Tax Amnesty for new projects is also given to an individual, provided that enclosing record of Certificate of Tax Amnesty issued by the Minister of Finance or appointed official on behalf of the Minister of Finance. (4) For Tax Amnesty Program of expansion project is also given to individuals who have individual PMDN business as referred to in paragraph (3) provided that enclosing record of Certificate of Tax Amnesty issued by the Minister of Finance or appointed official on behalf of the Minister of Finance. Paragraph 2 Procedures of Accelerated Undertaking Licensing in Industrial Estate and KSPN Article

170 (1) Company fill out and sign the application form issuance of permits required in the form of fulfillment of requirements (checklist) as referred to in Article 103 paragraph (1) independently accompanied by the commitment and the time period of eligibility must be met. (2) The application form accompanied by a commitment as referred to in paragraph (1) shall be registered by the Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP. (3) Based on the application, along with commitment of as referred to in paragraph (1) it shall be issued Register of Statement of Fulfillment of Requirements of Licensing at least 1 (one) business day from the receipt of the application. (4) Form of Register of Statement of Fulfillment of Requirements of Licensing as referred to in paragraph (3) shall be as set forth in Appendix LXXX that forms inseparable part hereof. (5) Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP reported the Investment Registration as referred to in Article

171 103 paragraph (1) and register as referred to in (2) to the National Task Force and may be delivered to the ministries/agencies Task Force and relevant Provincial Task Force. (6) In the event the company does not fulfill whole or part of the requirements contained in the checklist and turnaround time commitment and have not started construction as referred to in paragraph (5), Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP: a. gives a written warning; b. imposes suspension of Undertaking Licensing in terms of checklist; c. gives extension of time to complete the requirements that have not been met; d. suspends the activities; and/or e. revokes Undertaking Licensing temporarily. (7) An extension of time to complete the outstanding requirements as referred to in paragraph (6) c shall be filed no later than five (5) business days prior to the expiration of the time specified in the checklist which have been registered

172 (8) Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP shall provide Register of Extension of Fulfillment of Requirements of Licensing on a commitment to compliance with the requirements (checklist) that have not been met as referred to in paragraph (7) within 1 (one) day after the application is received. (9) In the event that the company has complied with all the requirements contained in the form of fulfillment of requirements (checklist), Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP shall issue the Undertaking Licensing. Article 107 (1) Application for Accelerated Undertaking Licensing as referred to in Article 105 paragraph (1) shall be submitted directly by all prospective shareholders. (2) In the event prospective shareholders unable to be present, they may be represented by one of the candidates by enclosing the original power of attorney from the prospective shareholders who cannot attend

173 (3) In the event the company was incorporated, the application submitted by the company. (4) Application as referred to in paragraph (1) shall be submitted to Central PTSP of BKPM, Provincial DPMPTSP, and Regency/Municipal DPMPTSP in accordance with their authority, using the application form contained in Appendix LXXXI by enclosing requirements as set forth in Appendix I that forms inseparable part hereof, (5) Accelerated Undertaking Licensing Application as referred to in paragraph (1) shall be issued no later than three (3) hours of receipt of complete and correct applications at the Central PTSP BKPM, Provincial DPMPTSP, and Regency/Municipal DPMPTSP in accordance with their with authority. Section Five Terms and Procedures for Accelerated Undertaking Licensing outside KEK, KPBPB Concession Agency, Industrial Estate, and KSPN Article 108 (1) Company shall apply for Undertaking Licensing online to Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP by

174 submitting complete and correct application form and complete all the requirements set out in the Undertaking Licensing. (2) Submission of application as referred to in paragraph (1) shall be 1 (one) time by the company. (3) In the event the Undertaking Licensing has not been mandated by ministries/agencies to Central PTSP of BKPM, the company shall submit the same to the work unit of the ministries/agencies. (4) Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP receiving the application for Undertaking Licensing as referred to in paragraph (1) shall issue Investment Registration as well as: a. Deed of Establishment of the Enterprise and the approval from the Ministry of Justice and Human Rights; b. Taxpayer Identification Number; and c. Certificate of Company Registration. (5) Investment Registration as referred to in paragraph (4) is used to obtain:

175 a. the necessary documents for the construction of buildings, which include at least: location permits, building permit, environmental permits, traffic impact analysis, certificate of function eligibility, technical buildings, Industrial Business License (IUI), and licensing of the industrial sector; and/or b. facilities where required, namely taxation, customs, excise, and other facilities. (6) Central PTSP of BKPM, work unit of ministries/agencies, provincial DPMPTSP, or Regency/Municipal DPMPTSP shall carry out verification of the technical requirements and the completeness no later than 5 (five) business days. (7) The completion of the necessary documents for the construction of buildings as referred to in paragraph (4), shall be conducted simultaneously through the use of data sharing. (8) In the event the requirements of the company has been complete and correct, Central PTSP of BKPM, work unit of ministries/agencies, Provincial DPMPTSP, or Regency/Municipal DPMPTSP shall provide a receipt of the application

176 (9) In the event the requirements of the company has been complete and correct, it shall be issued Undertaking Licensing no later than 5 (five) business days from receipt of the application was issued as referred to in paragraph (8). (10) In the event of incomplete or incorrect requirements of the company, Central PTSP of BKPM, work unit of ministries/agencies, Provincial DPMPTSP, or Regency/Municipal DPMPTSP shall notify the company to complete such incomplete requirements and/or to correct the same maximum three (3) business days after the receipt of the application was issued as referred to in paragraph (8). (11) The Company shall promptly complete the incomplete requirements and/or correct the same as referred to in paragraph (10) and submit to Central PTSP of BKPM, work unit of ministries/agencies, provincial DPMPTSP, or Regency/Municipal DPMPTSP. (12) In the event that the company has completed the requirements as referred to in paragraph (10), Central PTSP BKPM, work unit of

177 ministries/agencies, provincial DPMPTSP, or Regency/Municipal DPMPTSP shall provide a receipt for completeness of requirement. (13) In the event the company has obtained a receipt for completeness requirement, Central PTSP of BKPM, work unit of ministries/agencies, Provincial DPMPTSP, or Regency/Municipal DPMPTSP shall issue the Undertaking Licensing no later than 3 (three) business days from the receipt was issued as referred to in paragraph (12). (14) Central PTSP of BKPM, Provincial DPMPTSP, or Regency/Municipal DPMPTSP shall report the Investment Registration as referred to in paragraph (1) and the issuance of Undertaking Licensing as referred to in paragraph (13) to the National Task Force and where necessary to the relevant Task Force of ministries/agencies, Provincial Task Force, and/or Regency/Municipal Task Force. (15) Company may convey obstacles in the implementation of the acceleration outside KEK, KPBPB Concession Agency, Industrial Estate, and KSPN to the National Task Force and where

178 necessary to the relevant Task Force of ministries/agencies, provincial Task Force, and/or Regency/Municipal Task Force through complaint service. Article 109 The procedures of applying for Undertaking Licensing as referred to in Article 108 paragraph (1) for domestic and foreign company whose licenses is the authority of the Central Government shall apply on mutatis mutandis basis to the provisions on the procedure of application for Accelerated Undertaking Licensing as referred to in Article 107. Article 110 (1) Central PTSP of BKPM, work unit of ministries/agencies, Provincial DPMPTSP, or Regency/Municipal DPMPTSP shall carry out accelerated Undertaking Licensing outside KEK, KPBPB Concession Agency and Industrial Estate, and KSPN as referred to in Article 108 in the form of fulfillment of requirements (checklist). (2) The implementation of accelerated Undertaking Licensing in the form of fulfillment of requirements

179 (checklist) as referred to in paragraph (1) may be conducted in the event: a. the Undertaking Licensing does not endanger public safety and security; b. has had detailed master plan of the regency/municipality or area of strategic spatial planning of the regency/municipality; and/or c. have had technical standards set by the Government. (3) The provisions concerning the implementation of accelerated Undertaking Licensing in the form of fulfillment of requirements (checklist) as referred to in paragraph (1) shall apply on mutatis mutandis basis to the implementation of the Undertaking Licensing in Industrial Estate and KSPN as referred to in Article 103. Section Six Terms and Procedures of 3 (Three) Hours Quick Licensing Service related to Infrastructure in Energy and Mineral Resources Sector Paragraph

180 Terms of 3 (Three) Hours Quick Licensing Service Related to Infrastructure of Energy and Mineral Resources Sector Article 111 (1) 3 (Three) Hours Quick Licensing Service related to Infrastructure of Energy and Mineral Resources Sector shall be given to the applicant in the business under the authority of Minister of Energy and Mineral Resources. (2) 3 (Three) Hours Quick Licensing Service related to Infrastructure of Energy and Mineral Resources Sector, as referred to in paragraph (1) includes: a. Power Generation Business Sector; b. Power Transmission Business Sector; and c. Temporary Permit of Downstream Oil and Gas which consists of: 1. Temporary Business License of Petroleum/Fuel/Processed/Liquid Petroleum Gas (LPG)/Composed Natural Gas (CNG)/Liquid Natural Gas (LNG) Storage; 2. Temporary Business License of Petroleum Storage with refinery capacity

181 of over (twenty thousand) barrels of oil per day/temporary Business License of Gas Processing/Temporary Business License of Processed Products; and 3. Temporary Business License of General Trading of Petroleum/Fuel/Processed Products. Paragraph 2 Procedures of 3 (Three) Hours Quick Licensing Service related to Infrastructure in Energy and Mineral Resources Sector Article 112 (1) 3 (Three) Hours Quick Licensing Service related to Infrastructure of Energy and Mineral Resources Sector as referred to in Article 111 shall be submitted directly by the company to Central PTSP of BKPM by enclosing administrative and technical requirements. (2) In the event the applicant is a consortium and not yet incorporated, the application shall be filed by one of the consortium members

182 (3) The application form for 3 (Three) Hours Quick Licensing Service related to Infrastructure of Energy and Mineral Resources Sector as referred to in paragraph (1) is set forth in Appendix LXXXI that forms inseparable part hereof. (4) Administrative requirements and technical requirements as referred to in paragraph (1) shall be as set forth in Appendix I that forms inseparable part hereof. (5) Fulfillment of administrative requirements and technical requirements as referred to in paragraph (4) may be a statement/written commitment that must be met independently by the applicants as set forth in Appendix LXXXI that forms inseparable part hereof. (6) 3 (Three) Hours Quick Licensing Service related to Infrastructure of Energy and Mineral Resources Sector, as referred to in paragraph (1) shall be issued no later than three (3) business hours by Central PTSP of BKPM. (7) The form of license as referred to in paragraph (6) shall be as set forth in Appendix LXXXII that forms inseparable part hereof

183 (8) The fulfillment of the requirements as referred to in paragraph (5), contains requirements that must be fulfilled independently and commitment to fulfill the requirements maximum 60 (sixty) calendar days after issuance of license. (9) Head of BKPM or appointed official shall provide a certificate of completeness of administrative and technical requirements as referred to in paragraph (7) to the License Applicant after fulfilling commitments of administrative and technical requirements completely and correctly as referred to in paragraph (8) using the format set forth in Appendix LXXXII that forms inseparable part hereof and the discretion of the Ministry of Energy and Mineral Resources. (10) In the event the License Applicant failed to meet the commitment of requirements as referred to in paragraph (8), Head of BKPM or the appointed official shall issue revocation based on the consideration of the Ministry of Energy and Mineral Resources. CHAPTER X MISCELLANEOUS

184 Section One Notification of Application Article 113 (1) Application submitted online via SPIPISE that has been verified and there is still a lack of data shall receive notice that will be sent automatically via e- mail to the applicant and record of the detailed results of verification can be found in the application system online. (2) If application is submitted offline, and there is still a lack of data, then the officer in the Central PTSP BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK in accordance with their authority shall immediately return the application accompanied by detailed notes on the results of verification. (3) In the event the notification as referred to in paragraph (1) and paragraph (2) have been carried out maximum three (3) times in different days and the application is still not acceptable, Central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK in accordance with their authority may

185 require the attendance of the company management and attorney of the application to give an explanation directly and cannot be represented. (4) In the event the application done online through SPIPISE is declared complete and correct, then the notification is sent automatically via to the applicant. (5) In the event the application done offline is declared complete and correct, it shall be issued the receipt of the application. Section Two Attorney of Application Article 114 (1) Application for Investment Registration filed before obtaining Indonesian legal entity status and under the authority of the government shall be submitted online through SPIPISE by one of the shareholders or other authorized parties. (2) Application for Investment Registration filed before obtaining Indonesian legal entity status and under the authority of the Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or

186 PTSP KEK, shall be signed by all prospective shareholders or other authorized parties. (3) Application for Investment License and Facility submitted after obtaining Indonesian legal entity status shall be done by the Management of the Company or other authorized parties to Central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK in accordance with their authority. (4) Other authorized parties as referred to in paragraph (1), paragraph (2) and paragraph (3) shall have power of attorney and have the competence and ability to provide complete and correct information to the Officer of Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK in accordance with their authority and responsible for all information submitted. Article 115 (1) The power of attorney as referred to in Article 114 paragraph (4) shall use the format of power of attorney as set out herein, duly stamped, bearing

187 the seal of the company, and enclosing record of identity of the principal and the agent. (2) The form of power of attorney to submit the applications shall be as set forth in Appendix LXXXIII that forms inseparable part hereof. Section Three Signing Article 116 (1) Issuance of Investment License and Facilities shall be signed by an officer in accordance with their authority by: a. Electronic signatures; or b. Wet signature. (2) Electronic signature as referred to in paragraph (1) point a shall have the same effect as the documents issued by the authorities concerned in the form of a wet signature. Article 117 (1) Issuance of Investment License and Facilities as referred to in Article 6 shall be signed by Head of BKPM or high ranking officials of BKPM on behalf of the Head of BKPM or Echelon II in charge of

188 Ministry of Investment on behalf of the Head of BKPM. (2) Especially for Issuance of Investment Registration and register it shall be signed by: a. Echelon II in charge of Ministry of Investment on behalf of the Head of BKPM for Investment Registration for company that has been incorporated in Indonesia; or b. Echelon III of units of the Deputy Ministry of Investment on behalf of the Head of BKPM for company that has not been incorporated in Indonesia. Article 118 Issuance of Licensing based on Mandates as referred to in Article 7 shall be signed by the Head of Provincial DPMPTSP or Head of Implementing Agency of Provincial PTSP. Article 119 Issuance of Licensing based on Mandate and assignment as referred to in Article 8 shall be signed by the Head of Regency/Municipal DPMPTSP or Head of Implementing Agency of Regency/Municipal PTSP

189 Article 120 Issuance of Licensing in KPBPB as referred to in Article 9 shall be carried out by PTSP KPBPB in accordance with the provisions of legislations on KPBPB with reference hereto, signed by the head of PTSP KPBPB. Article 121 Issuance of Licensing in KEK as referred to in Article 9 shall be carried out by the PTSP KEK in accordance with the provisions of legislation on KEK by referring hereto, signed by KEK Administrator. Section Four Numbering of Investment License and Facilities Article 122 (1) For the sake of uniformity in the numbering on Investment Licensing and Facility issued by the Central PTSP BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK, it is necessary to regulate the numbering format. (2) Company numbering is assigned automatically by SPIPISE. Section Five

190 Copy Article 123 In case application for Investment License and Facilities is approved, Central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, or PTSP KEK, shall, in accordance with their authority, issue the license, with copies sent to: 1. Ministry/LPNK founder in accordance with the business sector of the applicant; 2. Provincial DPMPTSP and Regency/Municipal DPMPTSP in accordance with the project site of the applicant; and/or 3. Relevant agencies. Section Six Warranty Article 124 Prospective shareholders, Management of the Company or the applicant of Licensing should understand the statement contained in application form of Investment License and Facilities, which represents, warrants and is responsible for: a. the authenticity of all documents submitted;

191 b. the conformity of all records/copies of data submitted with the original document; and c. the authenticity of all signatures contained in the application. Section Seven Sanctions Article 125 (1) Management of Company and/or attorney of the applicant providing false information and/or data shall be banned from taking care of Licensing and Facility Investment at Central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, PTSP KEK in accordance with their authority, for at least 1 (one) year and will be announced publicly. (2) Management of Company and/or attorney of applicant of Investment License and Facilities providing false information and/or data that has been proven in the application submitted to the Central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, PTSP KEK in accordance with their authority, shall be

192 subject to sanctions in accordance with the provisions of legislations. CHAPTER XI TRANSITIONAL PROVISIONS Article 126 (1) Investment Registration that has been issued based on Regulation of Head of BKPM Number 12 of 2009 on Guidelines and Procedures of Investment Licensing is required to apply for a Business License within a period of six (6) months from the effective date hereof. (2) If the Investment Registration as referred to in paragraph (1) within a period of six (6) months from the effective date hereof did not apply for Business Licenses the Central PTSP of BKPM, Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, and PTSP KEK shall, in accordance with their authority, revoke the Investment Registration. (3) Principle Permit issued prior to the effective date hereof shall remain be valid until the expiry of the Principle License in accordance with the Project

193 Completion Period contained in the Principle Permit. (4) Application for Principle Permit that has been accepted and declared complete and correct before the entry into force hereof and is still being finalized, shall be processed in accordance with the provisions hereof. (5) PMA Company that already had Business License and not meeting the requirement as referred to in Article 12 paragraph (2), prior to performing activities of starting a business as referred to in Article 10 paragraph (1), shall apply for Investment Registration under new registration and meet the provisions as referred to in Article 12 paragraph (2). CHAPTER XII CONCLUSION Article 127 Upon the enactment hereof, a. Regulation of Head of Investment Coordinating Board Number 8 of 2015 on Procedures of Application for Tax Allowance for Investment in Certain Business Fields and/or in Certain Areas

194 (State Gazette of the Republic of Indonesia of 2015 Number 681), as amended by Regulation of Head of Investment Coordinating Board Number 18 of 2015 on Amendments to Regulation of Head of Investment Coordinating Board Number 8 of 2015 on Procedures of Application for Tax Allowance for Investment in Certain Business Fields and/or in Certain Areas (State Gazette of the Republic of Indonesia of 2015 Number 1482); b. Regulation of Head of Investment Coordinating Board Number 13 of 2015 on Procedures of Application for Tax Holiday (State Gazette of the Republic of Indonesia of 2015 Number 1336) as amended by Regulation of Head of Investment Coordinating Board Number 19 of 2015 on Amendments to Regulation of Head of Investment Coordinating Board Number 13 of 2015 on Procedures of Application for Tax Holiday (State Gazette of the Republic of Indonesia of 2015 Number 1483); c. Regulation of Head of Investment Coordinating Board Number 14 of 2015 on Guidelines and Procedures of Principle Investment License (State

195 Gazette of the Republic of Indonesia of 2015 Number 1478) as amended several times, most recently by Regulation of Head of Investment Coordinating Board Number 8 of 2016 on the Second Amendment to Regulation of Head of Investment Coordinating Board Number 14 of 2015 concerning Guidelines and Procedures of Principle Investment License (State Gazette of the Republic of Indonesia of 2016 Number 1623); d. Regulation of Head of Investment Coordinating Board Number 15 of 2015 on Guidelines and Procedures for Investment Licensing and Non- Licensing (State Gazette of the Republic of Indonesia of 2015 Number 1479); and e. Regulation of Head of Investment Coordinating Board Number 16 of 2015 on Guidelines and Procedures of Investment Facility Services (State Gazette of the Republic of Indonesia of 2015 Number 1480), are revoked and declared invalid. Article 128 This Regulation of Board comes into force: a. for Central PTSP of BKPM on 2 January 2018; and

196 b. for Provincial DPMPTSP, Regency/Municipal DPMPTSP, PTSP KPBPB, and PTSP KEK maximum on 2 July For public cognizance, ordering the promulgation of hereof by publishing in the Official Gazette of Republic of Indonesia. Stipulated in Jakarta on 4 December 2017 HEAD OF INVESTMENT COORDINATING BOARD OF REPUBLIC OF INDONESIA, Signed THOMAS TRIKASIH LEMBONG Promulgated in Jakarta on 11 December 2017 DIRECTOR GENERAL OF LEGISLATION REGULATION OF MINISTRY OF LAW AND HUMAN RIGHTS OF THE REPUBLIC OF INDONESIA [Signature] WIDODO EKATJAHJANA

197 Authorized Translation STATE GAZETTE OF THE REPUBLIC OF INDONESIA OF 2017 NUMBER 1767 True copy Main Secretariat of BKPM Head o Legislations Regulation Bureau, Public Relations and Management Administration [signed and stamped] Ariesta R. Puspasari AFFIDAVIT This is to certify that have translated the foregoing from Indonesian to English, that is true and complete, and I am competent in both languages. Jakarta, 16th January Drs. Sularno Popomaruto Sworn Translator by virtue SK.Gub.KDKI Jkt.No.1715/2000

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