Regulation On Approval Of Multi Years Contract

Multi Years Contracts may be used for construction projects and/or non-construction projects which completion require more than 12 months or more than 1 fiscal year or which would be more beneficial if they are contracted for more than 1 fiscal year but at the most for 3 fiscal years. Pursuant to this regulation, approval of Multi Years Contracts for construction projects with a value of up to Rp200,000,000,000.00 or non-construction projects with a value of up to Rp20,000,000,000.00 shall be issued by the relevant Minister/Head of Government Agency/Budget User, whereas construction projects with a value of more than Rp200,000,000,000.00 or non-construction projects with a value of more than Rp20,000,000,000.00, as well as Multi Years Contracts financed by Sharia government bonds, including for the continuation of projects in the subsequent years must be approved by the Minister of Finance. However, Multi Years Contracts partly or entirely financed by offshore loans/grants and/or domestic loans/grants are excluded from the provisions on such approval. Furthermore, this regulation sets out detailed provisions on the procedures for applying for such approval of Multi Years Contracts to the Minister of Finance, as well as the requirements and conditions that must be complied with by Ministers/Heads of Government Agency/Budget Users for obtaining approval of Multi Years Contracts from the Minister of Finance.

 

This regulation has come into effect as of June 21, 2016, by revoking Regulation of the Minister of Finance Number 238/PMK.02/2015.

 

 

 

 

 

 

 

Source https://legalcentric.com/content/view/133405

Summary Of Regulation On Tax Treatment On Capital Participation Of Venture Capital Companies In Micro, Small And Medium-Scale Enterprises
Summary Of Regulation On Tax Treatment On Capital Participation Of Venture Capital Companies In Micro, Small And Medium-Scale Enterprises

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