ProdukHukum Perdagangan
CORPORATE ANNUAL FINANCIAL INFORMATION
(Government Regulation No. 24/1998, dated February 14, 1988)
THE PRESIDENT OF THE REPUBLIC OF INDONESIA
Considering :
a. that in the context of increasing the efficiency and competitiveness in the
national economy, it is deemed necessary to provide facilities for obtaining
corporate annual financial information;
b. that in relation thereto, it is necessary to stipulate a provision on Corporate
Annual Financial Information;
In view of:
1. Article 5, paragraph (2), of the 1945 Constitution;
2. Law No. 3/1982 on the Obligation of Corporate Registration (Statute Book
No. 7/1982, Supplement to Statute Book No. 3214)
DECIDES:
To stipulate :
GOVERNMENT
REGULATION
ON
CORPORATE
ANNUAL
FINANCIAL INFORMATION
Article 1
In this Government Regulation, what is meant by:
1. Company is any form of business undertaking, which operates permanently and
continuously for the purpose of gaining benefits and or profits, and which is run
by an individual or corporation forming a legal body or non-legal body,
established and domiciled in the territory of Indonesia.
2. Minister is the Minister accountable in the field of trade.
Article 2
(1) All companies shall submit an Annual Financial Report to the Minister.
(2) The Annual Financial Report as meant in paragraph (1) shall be a general
Document that can be known by the public.
Article 3
(1) The Annual Financial Report as meant in Areticle 2, paragraph (1) shall
cover:
a. Corporate Balance of Sheet
b. Corporate Profit/Loss Report
c. Cash Flow Report
d. Debts and Receivables including Bank Credits
a. List of Capital Participation
(2) A description and breakdown of the Annual Financial Report as meant in
paragraph (1) shall be further stipulated by the Minister after receiving
consideration from the Finance Minister.
Article 4
(1) Upon the enforcement of this Government Regulation, the obligation as
meant in paragraph (2) shall apply to limited liability company:
a. which is an open company
b. whose line of business is related to public funds raising
c. which issues an acknowledgment of indebtedness, or
d. whose minimum assets are at least Rp 50,000,000,000.00 (fifty billion
rupiah).
(2) The Annual Report of the company as meant in paragraph (1) shall be a
report already audited by a Public Accountant.
Article 5
For a company which is not included in the companies as meant in Article 4,
paragraph (1), the obligation of submitting Annual Financial Report. shall be
stipulated by the Minister.
Article 6
(1) The Minister or appointed official shall provide corporate financial
information services to the public.
(2) The services on corporate financial services as meant in paragraph (1) shall
be subject to a charge, the amount of which is stipulated in a separate
Government Regulation, and it shall constitute a Non-Tax State Revenue
(PNBP).
Article 7
A further provision required for the implementation of this Govornment
Regulation shall be stipulated by the Minister.
Article 8
This government regulation comes into force on the date of stipulation.
For public cognizance. let this government regulation be announced by publishing
it in the Statute Book of the Republic of Indonesia.
Stipulated in Jakarta
on February 14, 1998
THE PRESIDENT OF THE REPUBLIC OF INDONESIA
Sgd
SOEHARTO
Promulgated in Jakarta
on February 14, 1998
THE MINISTER/STATE SECRETARY
Sgd
MOERDIONO
ELUCIDATION ON GOVERNMENT REGULATION NO. 24/1998
ON CORPORATE ANNUAL FINANCIAL INFORMATION
GENERAL
In the endeavours of supporting the continuation and leverage of the
implementation of development, it is deemed necessary to take steps which are
capable of pushing the increase of efficiency in the national economy and the
competitive power in the business world. To this end, one of the means to
increase efficiency is the availability of corporate financial information. With
the existence of opportunity for the public and business circles to obtain financial
information, it is expected that the process for decision making in the business
world can be carried out more accurately, which in turn will enable the levering
of business efficiency.
The availability of a more reliable financial information is also an
important factor to support the leverage of efficiency and business performance,
and to support the implementation of the principles of prudence in the
management and utilization of public funds. This is in line with the endeavours
to increase efficiency in the allocation of public funds so as to give more support
to an even development.
The procurement and furnishing of corporate information is one of the
implementation of government functions, i.e. regulating, protection, and public
service. This is reflected in Law No. 3/1982 on the Obligation of Corporate
Registration, which has regulated the items to be registered by a company, but
which has not yet firmly stipulated the submission of annual financial report.
Nevertheless, this Law indicates that the items on the submission of corporate
corporation shall be further arranged by the Minister. In accordance herewith,
for the provisions on the submission of annual corporate financial information to
agree with the hierarchy of legislation in force, it is deemed necessary to make
the arrangement for the submission of annual corporate financial information
through a Government Regulation.
ARTICLE BY ARTICLE
Article 1
Letter 1
Sufficiently clear
Letter 2
Sufficiently clear
Article 2
Paragraph (1)
The company submitting the Annual Financial Report shall have a TOP and
NPWP (Tax Payer's Registration No.). The obligation for the submission of
financial report in this Government Regulation, is the implementation of Law
No. 3/1982 on the Obligation of Corporate Registration, which bears a general
characteristic, without prejudice to the reporting obligation stipulated in other
regulations and legislation, which apply to the lines of business and types of
company concerned, such as regulations and legislation in the fields of banking,
insurance, and capital market.
Paragraph (2)
Sufficiently clear
Article 3
Paragraph (1)
The submission of this Annual Financial Report is aimed at furnishing corporate
financial information. Therefore, a financial information originating from
Corporate Balance of Sheets, Corporate Profit/Loss Report, Cash Flow
Report, Debts and Receivables including Bank Credits, and List of Capital
Participation and the records concerned, will be sufficient as an information
available to the public.
Paragraph (2)
For the uniformity of furnishing the financial information, a description and
detail of the Annual Financial Report. is required. In stipulating the description
and detail. a consideration needs to be required from the Finance Minister who
acts as the Cultivator of Public Accountant. The description and detail of the
Annual Financial Report can change in accordance with the need for economic
development.
Article 4
Paragraph (1)
Basically, according to this Government Regulation, all companies have the
obligation to sumbit an Annual
Financial Report. However, considering the readiness of corporate management
and administration, in the first phase, such obligation shall only be carried out by
the following types of company :
a. An open incorporated Limited Liability Company, as meant in Article 1, point
6, of Law No. 1/1995 on the Limited Liability Company.
b. A company whose line of business is related to public funds raising, as meant
in Article 59, paragraph (1), letter a, of Law No. 1/1995, on the Limited
liability Company.
c.
A company issuing an acknowledgment of indebtedness, which constitutes a
document containing a statement promising to pay back a loan or another
financing obligation by a company to the public at large;
Letter d
A company owning total assets in the amount of at least Rp 50,000,000,000.00
(fifty billion rupiah).
Paragraph (2)
Sufficiently clear.
Article 5
Sufficiently clear
Article 6
Paragraph (1)
People wanting an information on annual corporate financial report, can ask it to
KPP.
Paragraph (2)
The Government Regulation intended is Government Regulation on the
Implementation of Law No. 20/1997 on
Non-Tax State Revenues.
Article 7
Sufficiently clear
Article 8
Sufficiently clear
SUPPLEMENT TO STATUTE BOOK OF THE REPBULIC OF
INDONESIA MO. 3738
(Government Regulation No. 24/1998, dated February 14, 1988)
THE PRESIDENT OF THE REPUBLIC OF INDONESIA
Considering :
a. that in the context of increasing the efficiency and competitiveness in the
national economy, it is deemed necessary to provide facilities for obtaining
corporate annual financial information;
b. that in relation thereto, it is necessary to stipulate a provision on Corporate
Annual Financial Information;
In view of:
1. Article 5, paragraph (2), of the 1945 Constitution;
2. Law No. 3/1982 on the Obligation of Corporate Registration (Statute Book
No. 7/1982, Supplement to Statute Book No. 3214)
DECIDES:
To stipulate :
GOVERNMENT
REGULATION
ON
CORPORATE
ANNUAL
FINANCIAL INFORMATION
Article 1
In this Government Regulation, what is meant by:
1. Company is any form of business undertaking, which operates permanently and
continuously for the purpose of gaining benefits and or profits, and which is run
by an individual or corporation forming a legal body or non-legal body,
established and domiciled in the territory of Indonesia.
2. Minister is the Minister accountable in the field of trade.
Article 2
(1) All companies shall submit an Annual Financial Report to the Minister.
(2) The Annual Financial Report as meant in paragraph (1) shall be a general
Document that can be known by the public.
Article 3
(1) The Annual Financial Report as meant in Areticle 2, paragraph (1) shall
cover:
a. Corporate Balance of Sheet
b. Corporate Profit/Loss Report
c. Cash Flow Report
d. Debts and Receivables including Bank Credits
a. List of Capital Participation
(2) A description and breakdown of the Annual Financial Report as meant in
paragraph (1) shall be further stipulated by the Minister after receiving
consideration from the Finance Minister.
Article 4
(1) Upon the enforcement of this Government Regulation, the obligation as
meant in paragraph (2) shall apply to limited liability company:
a. which is an open company
b. whose line of business is related to public funds raising
c. which issues an acknowledgment of indebtedness, or
d. whose minimum assets are at least Rp 50,000,000,000.00 (fifty billion
rupiah).
(2) The Annual Report of the company as meant in paragraph (1) shall be a
report already audited by a Public Accountant.
Article 5
For a company which is not included in the companies as meant in Article 4,
paragraph (1), the obligation of submitting Annual Financial Report. shall be
stipulated by the Minister.
Article 6
(1) The Minister or appointed official shall provide corporate financial
information services to the public.
(2) The services on corporate financial services as meant in paragraph (1) shall
be subject to a charge, the amount of which is stipulated in a separate
Government Regulation, and it shall constitute a Non-Tax State Revenue
(PNBP).
Article 7
A further provision required for the implementation of this Govornment
Regulation shall be stipulated by the Minister.
Article 8
This government regulation comes into force on the date of stipulation.
For public cognizance. let this government regulation be announced by publishing
it in the Statute Book of the Republic of Indonesia.
Stipulated in Jakarta
on February 14, 1998
THE PRESIDENT OF THE REPUBLIC OF INDONESIA
Sgd
SOEHARTO
Promulgated in Jakarta
on February 14, 1998
THE MINISTER/STATE SECRETARY
Sgd
MOERDIONO
ELUCIDATION ON GOVERNMENT REGULATION NO. 24/1998
ON CORPORATE ANNUAL FINANCIAL INFORMATION
GENERAL
In the endeavours of supporting the continuation and leverage of the
implementation of development, it is deemed necessary to take steps which are
capable of pushing the increase of efficiency in the national economy and the
competitive power in the business world. To this end, one of the means to
increase efficiency is the availability of corporate financial information. With
the existence of opportunity for the public and business circles to obtain financial
information, it is expected that the process for decision making in the business
world can be carried out more accurately, which in turn will enable the levering
of business efficiency.
The availability of a more reliable financial information is also an
important factor to support the leverage of efficiency and business performance,
and to support the implementation of the principles of prudence in the
management and utilization of public funds. This is in line with the endeavours
to increase efficiency in the allocation of public funds so as to give more support
to an even development.
The procurement and furnishing of corporate information is one of the
implementation of government functions, i.e. regulating, protection, and public
service. This is reflected in Law No. 3/1982 on the Obligation of Corporate
Registration, which has regulated the items to be registered by a company, but
which has not yet firmly stipulated the submission of annual financial report.
Nevertheless, this Law indicates that the items on the submission of corporate
corporation shall be further arranged by the Minister. In accordance herewith,
for the provisions on the submission of annual corporate financial information to
agree with the hierarchy of legislation in force, it is deemed necessary to make
the arrangement for the submission of annual corporate financial information
through a Government Regulation.
ARTICLE BY ARTICLE
Article 1
Letter 1
Sufficiently clear
Letter 2
Sufficiently clear
Article 2
Paragraph (1)
The company submitting the Annual Financial Report shall have a TOP and
NPWP (Tax Payer's Registration No.). The obligation for the submission of
financial report in this Government Regulation, is the implementation of Law
No. 3/1982 on the Obligation of Corporate Registration, which bears a general
characteristic, without prejudice to the reporting obligation stipulated in other
regulations and legislation, which apply to the lines of business and types of
company concerned, such as regulations and legislation in the fields of banking,
insurance, and capital market.
Paragraph (2)
Sufficiently clear
Article 3
Paragraph (1)
The submission of this Annual Financial Report is aimed at furnishing corporate
financial information. Therefore, a financial information originating from
Corporate Balance of Sheets, Corporate Profit/Loss Report, Cash Flow
Report, Debts and Receivables including Bank Credits, and List of Capital
Participation and the records concerned, will be sufficient as an information
available to the public.
Paragraph (2)
For the uniformity of furnishing the financial information, a description and
detail of the Annual Financial Report. is required. In stipulating the description
and detail. a consideration needs to be required from the Finance Minister who
acts as the Cultivator of Public Accountant. The description and detail of the
Annual Financial Report can change in accordance with the need for economic
development.
Article 4
Paragraph (1)
Basically, according to this Government Regulation, all companies have the
obligation to sumbit an Annual
Financial Report. However, considering the readiness of corporate management
and administration, in the first phase, such obligation shall only be carried out by
the following types of company :
a. An open incorporated Limited Liability Company, as meant in Article 1, point
6, of Law No. 1/1995 on the Limited Liability Company.
b. A company whose line of business is related to public funds raising, as meant
in Article 59, paragraph (1), letter a, of Law No. 1/1995, on the Limited
liability Company.
c.
A company issuing an acknowledgment of indebtedness, which constitutes a
document containing a statement promising to pay back a loan or another
financing obligation by a company to the public at large;
Letter d
A company owning total assets in the amount of at least Rp 50,000,000,000.00
(fifty billion rupiah).
Paragraph (2)
Sufficiently clear.
Article 5
Sufficiently clear
Article 6
Paragraph (1)
People wanting an information on annual corporate financial report, can ask it to
KPP.
Paragraph (2)
The Government Regulation intended is Government Regulation on the
Implementation of Law No. 20/1997 on
Non-Tax State Revenues.
Article 7
Sufficiently clear
Article 8
Sufficiently clear
SUPPLEMENT TO STATUTE BOOK OF THE REPBULIC OF
INDONESIA MO. 3738