Tuesday , 31 March 2020
Home » News (page 5)

News

Press Release: Transparency for Improving Commodity Trading Governance of Oil and Gas

Jakarta, July 20, 2018 – In an effort to increase the transparency of the oil and gas sector, the Coordinating Ministry for Economic Affairs held an Oil and Gas Commodity Trading Forum at the Borobudur Hotel, Jakarta. Information disclosure in the oil and gas sector is one of the things required in the Standard Extractive Industries Transparency Initiative (EITI), in which Indonesia is one of the implementing countries for EITI along with 50 other countries. ¬†Transparency of oil and gas trade is based on the number of State-Owned Enterprises (SOEs) in many countries, which play an important role in the ... Read More »

Press Release: Transparency as Efforts to Improve Governance of Distribution of Revenue Sharing Funds

In an effort to uphold the principle of transparency in the extractive industry sector oil and gas at the national and regional levels, the Coordinating Ministry for Economic Affairs held Focus Group Discussions (FGD) at Aston Hotel, Batam, April 9, 2018, Riau Islands. This activity discusses the distribution of Revenue Sharing Funds (DBH) in the extractive industry sector. DBH is a fund sourced from APBN revenue that is distributed to regions based on a certain percentage figure. The discussion of the DBH issue is closely related to the principle of transparency which has been echoed by the Extractive Industries Transparency ... Read More »

Scoping Study for Guidance of EITI Report 2016

EITI Indonesia is currently preparing the 2016 EITI Report. The EITI Standard requires a time difference between the publication of the EITI Report and the reporting year of not more than two years. To meet these requirements, the scope as a reference for the completion of the 2016 EITI Report has been prepared. The discussion of the scope of the EITI Report was carried out at the MSG meeting on March 2, 2018. The EITI report consists of 2 parts, the Reconciliation Report and Contextual Report. One of the important things in the scope of the report is the determination ... Read More »

Revision of Presidential Regulation No. 26 of 2010 to Strengthen Implementation of EITI

The EITI MSG is currently drafting a revised Presidential Regulation No. 26 of 2010 which is the legal basis for EITI implementation in Indonesia. A number of Focus Group Discussions (FGDs) meetings and discussions have been held to be able to complete the draft revised of Presidential Regulation. One of the revisions to the Presidential Regulation is to prepare for the Indonesian EITI validation process, which is planned to take place from September this year. In addition, the more important thing in the revision of the Presidential Regulation is the strengthening of the implementation of EITI in Indonesia. Presidential Regulation ... Read More »

Presidential Regulation of Beneficial Ownership, A Step Forward for Extractive Industries Transparency

After going through a long process, the legal basis for overseeing transparency of beneficial ownership (BO) in Indonesia is officially valid. Presidential Regulation No. 13 of 2018 concerning the Principle of Recognizing Benefit Owners of Corporations in the Context of Prevention and Eradication of Crimes of Money Laundering and Crime of Terrorism was promulgated on March 5, 2018. This regulation is to prevent money laundering and tax avoidance from beneficial ownership (BO) or beneficial owners of a corporation. In the Presidential Regulation, it is explained that the owner of a corporate benefit or BO is an individual who can appoint ... Read More »

Press Release Civil Society Representative: Presidential Decree of Principles Recognizing “Beneficial Ownership” is a Momentum for Accelerating Eradication of Corruption

Jakarta – National Coalition to Publish What You Pay (PWYP) Indonesia gives positive appreciation for the issuance of Presidential Regulation (Perpres) Number 13 of 2018 concerning the Principle of Recognizing Benefit Owners of Corporations in the Context of Prevention and Eradication of Crime of Money Laundering and Terrorism Funding Crime (TPPU / PT). The regulation signed by President Jokowi on March 1, 2018 requires each corporation (such as limited liability companies, foundations, associations, cooperatives, partnership partnerships, firm associations, and other corporate forms) to determine, report and update the ‘Benefit Owner’ of the corporation . Corporations’ Benefit Owners in this Presidential ... Read More »

EITI Indonesia Validation

Indonesia will undergo the EITI membership validation process which will begin in September 2018. The validation process is an activity to assess the progress of a country in implementing EITI requirements. Every three years, EITI member countries will undergo validation to assess performance, promote dialogue and learning in EITI member countries and to maintain EITI’s integrity with the implementation of the same global standards in each EITI implementing country. EITI Indonesia should be validated in 2017, but because there were a number of obstacles in the completion of the 2014 EITI Report, EITI Indonesia officially requested the implementation of validation ... Read More »

EITI Report 2015 Publication

The EITI MSG publishes the 5th EITI Report which includes information on state revenues from the extractive industry in 2015. The publication of the report is to meet the requirements of the EITI Standard where the implementing country must be able to publish a maximum report within two years of the current year. The publication time in December 2017 still meets the EITI Standard so that Indonesia is still a country that is compliant with transparency standards or has compliance status. This status must be maintained during the validation process that will be carried out in 2018. Indonesia is expected ... Read More »