The Government of Indonesia, through the Minister of Finance (MoF), issued regulation No.196/PMK.03/2007 which has been amended several times, i.e., through No.24/PMK.011/2012, No. 1/PMK.03/2015, and most recently No.123/PMK.03/2019 (“PMK-123”).

This amended regulation expands the entities eligible for foreign languages and currencies, as follows:

1. Taxpayers in the framework of a Contract of Work operating under a contract/agreement with the Government of the Republic of Indonesia as referred to in the provisions of the legislation in the field of mineral and coal mining; and
2. Collective Investment Contract (KIK) that issues mutual funds denominated in United States Dollars and has received an Effective Notification Letter of Registration Statement from an independent institution that regulates and supervises financial services in accordance with statutory provisions in the field of the Financial Services Authority (OJK).

PMK-123 became effective on 27 August 2019.