July 2014: Recently Indonesia’s antigraft body has broadened its supervisory function in the mining sector to include the observation of practices of mining companies that hold contracts of works.As of now Mining licenses are required to obtain a “clean and clear” status, which indicates that the companies’ activities are in line with the government’s environmental policies, free from overlapping land rights, and in conformity with all tax and non-tax financial obligations.There are currently 10,918 IUPs nationwide, of which 6,042 already obtained the clean and clear status.
We would advise our clients working in close connection with those entities which qualify as “critical infrastructure“ which largely means energy, health care, transportation, financial services, heavy manufacturing, food and drugs to ensure the following best practices to ensure legal compliance: Do you have a data breach plan in place? If you store any individual’s […]
Most Pakistanis got their first introduction into the secret world of OFC, or offshore financial centers, courtesy of the Panama leaks. These are nothing new however and such OFCs as Panama have increasingly appeared in the new over recent years and have become a global concern due to not only their existence and way they […]
Future investments in Pakistan’s LNG sector is in limbo due to the tax authorities refusing to provide the promised tax exemptions for the Engro ETPL; Elengy Terminal Pakistan Ltd. This is despite the policy having been approved by the highest level of economic decision makers in the country. The FBR, Federal Board of Revenue, stated […]