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LAWYER-CLIENT CONFIDENTIALITY OFTEN VIOLATED
It is a tradition and universal public knowledge that the relationship between a lawyer and his clients imports obligations of confidentiality.
New 5-10 Year Tax Holiday Under Minister of Finance Regulation No. 130/PMK.011/2011
Minister of Finance Regulation No. 130/PMK.011/2011 on Provision of Tax Holiday or Reduction Facility (“MoF Regulation”) has been issued to implement Articles 29 and 30 of Government Regulation No. 94 of 2010 on Calculation of Non Taxable Income and Payment of Income Tax in the Current Year (“Government Regulation”) and Article 18 (5) in conjunction with Article 18 (7) of Law No. 25 of 2007 on Investment (“Investment Law”).
2.5% Tax on the Initial Margin in Exchange-Traded Derivatives Repealed
Government Regulation No. 31 of 2011 on the Repeal of Government Regulation No. 17 of 2009 on the Income Tax on Transactions in Exchange-Traded Derivatives (“Regulation”) has been issued to repeal the earlier imposed 2.5% income tax that applied to the initial margin of exchange-traded derivatives (such as futures contracts).