New Law Shields Danantara Bond Purchases from Tax Criminal Penalties
JAKARTA, DDTCNews – Under Law 4/2026, the state guarantees and protects purchases of Danantara securities from prosecution for tax crimes. This topic is among the subjects covered by national media today, Tuesday (23/6/2026).
Pursuant to Law 4/2026, Danantara is permitted to issue securities. The securities that Danantara may issue comprise general securities as well as special securities, such as Patriot Bonds and Merah Putih Bonds.
The issuance of special securities ... shall be implemented by establishing strategies, management policies and risk control, managed according to the principles of professionalism, accountability and sound business judgement," reads Article 50A paragraph (3) of Law 4/2026.
Referring to Article 50A paragraph (4) of Law 4/2026, the purchase of special securities by investors is categorised as a lawful transaction within the national financial system. The investors concerned include taxpayers that have participated in either the first or second phase of the tax amnesty programme.
With the entry into force of Law 4/2026, the state guarantees and protects the purchase of special securities from general criminal prosecution, special criminal prosecution, including prosecution in the field of taxation, and civil lawsuits..
Moreover, data and information arising from the purchase of securities may not be used as a tax base nor as legal evidence in court.
Please note, however, that state protection for the purchase of special securities applies only to transactions conducted in the primary market.
In addition to the above topic, there is also coverage of the formulation of tax facilities for a financial center. Further, there is discussion of the imposition of a 0% import duty on imports of LPG, excise relief for group 3 cigarette manufacturers and other related matters.
Below is a full review of the tax-related articles.
Government to Establish a Financial Center Similar to Dubai, with Tax Incentives
The government plans to establish a financial center equivalent to that in Dubai. The establishment of this financial center is facilitated through the Indonesian International Financial Center clause in Law 4/2026.
The government plans to establish one financial center in Bali. "We are finalising the details, but we intend to make it comparable to that in Dubai," claimed Coordinating Minister for Economic Affairs Airlangga Hartarto.
Further, entrepreneurs operating within the financial center will receive special tax facilities. In addition, entrepreneurs will also be accorded special tax treatment. (DDTCNews/Bisnis Indonesia)
Central Government to Increase Transfers to Regions Next Year
The government has pledged a higher allocation ceiling for transfers to regions (transfer ke daerah/TKD in Indonesian) in the 2027 fiscal year compared with the current year.
Minister of Finance, Purbaya Yudhi Sadewa, indicated that there is potential for an additional TKD ceiling of approximately IDR40–IDR90 trillion for next year. However, he emphasised that the figure is not yet final, as the formulation of the 2027 state budget (anggaran pendapatan dan belanja negara/APBN in Indonesian) must take into account the state's fiscal conditions.
"The TKD is provisionally expected to increase by around IDR40 trillion for the regions, and could rise to as much as IDR90 trillion, depending on how the discussions around the APBN unfold. As such, there is flexibility," he said. (DDTCNews/Kontan)
Eight Policies to Stimulate Economic Activities
The government is preparing a number of policies as economic stimulus for the second quarter of 2026 and the second half of 2026, with a view to sustaining domestic economic growth amidst pressures arising from geopolitical factors.
"Indonesia needs to continue safeguarding the domestic economy, and we must also undertake proactive measures to prevent and anticipate possible external risks," remarked Coordinating Minister for Economic Affairs, Airlangga Hartarto.
Eight policies have been prepared by the government, including the imposition of a final income tax of 1.5% on royalty income received by authors. This policy is said to be in line with a pledge made by President Prabowo Subianto during the 2024 presidential election. (DDTCNews)
Zero Per Cent Import Duty on LPG
The government is set to grant a 0% import duty incentive on imports of liquefied petroleum gas (LPG) specifically for petrochemical industries operating in Indonesia.
This stimulus is expected to reduce industry costs and establish a multiplier effect for the national economy. The import duty incentive is also estimated to generate an economic impact worth IDR2.25 trillion.
"The government sets a 0% import duty on imports of LPG for the petrochemical industry," said Coordinating Minister for Economic Affairs, Airlangga Hartarto. (DDTCNews)
DPR Calls for Excise Relief for Group 3 Cigarette Manufacturers
The House of Representatives (Dewan Perwakilan Rakyat/DPR in Indonesian) is urging the government to implement an affirmative excise policy or special treatment for group 3 cigarette manufacturers, particularly those that are newly incorporated or expanding their operations.
Commission XI member, Said Abdullah, considered that special treatment, such as incentives for group 3 manufacturers, would allow small-scale cigarette businesses to continue operating legally and use official excise stamps. In doing so, entrepreneurs would also be more orderly and compliant in remitting excise to the state treasury.
"If the excise tariff is too burdensome and disproportionate to their business capacity, some entrepreneurs will struggle to survive. This may ultimately drive the emergence of illegal excise stamp practices," he claimed. (DDTCNews)
Revision of the P2SK Law Allows Government and BI to Hold IDX Shares
Law 4/2026 allows the government or Bank Indonesia (BI) to hold shares in the Indonesia Stock Exchange (IDX). Referring to Article 8B paragraph (1) of Law 4/2026, the Ministry of Finance (MoF), Danantara and BI may hold shares in the IDX.
Nevertheless, shareholding by these parties must be implemented whilst maintaining the independence of the IDX. "The Ministry of Finance, Bank Indonesia and BPI Danantara may become shareholders of the stock exchange," reads Article 8B paragraph (1) of Law 4/2026.
Please note that one of the objectives of the issuance of Law 4/2026 is to strengthen the IDX through stock exchange demutualisation. Through demutualisation, the IDX transitions from a non-profit organisation owned by exchange members to a limited liability company whose shares may be held by all parties. (DDTCNews)
