KSP LEGAL UPDATES
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KSP LEGAL UPDATES
New Government Regulation on Bringing Cash and/or Other Payment Instruments Into or Out of Indonesia Customs Area
As part of the Government of Indonesia (“GOI”)’s commitment in combating money laundering activities, the GOI finished the year of 2016 by enacting Government Regulation Number 99 of 2016 on Bringing Cash and/or Other Payment Instruments Into or Out of Indonesia Customs Area (“GR 99/2016”). The GR 99/2016 is mandated by Article 36 of Law Number 8 of 2010 on Prevention and Suppression of Money Laundering Activities.
The GR 99/2016 defines the other payment instruments are giro, checks, travel checks, promissory note and deposit certificates, while cash refers to Indonesian Rupiah and/or foreign currencies. The customs officers have full authority to interview or doing hand inspection or inspection to any individual’s belongings.
Article 2 of the GR 99/2016 stipulates that any individual bringing cash and/or other payment instruments exceeding IDR 100.000.000 (one hundred million Indonesian Rupiah) is required to declare it to the customs officers by filling out the form. In particular, any cash and/or other payment instruments exceeding such requirement and leaving Indonesia territory must be accompanied by the approval from Bank Indonesia.
Fines of 10% of the total cash and/or other payment instruments or maximum of IDR 300.0000.000 (three hundred million Indonesian Rupiah) apply to any individual bringing the cash as meant in Article 2 of the GR 99/2016 without declaring it.
Further, if the declared amount of cash is smaller than the actual cash, an individual shall be fined by 10% of the excess of actual cash and/or other payment instruments or by maximum fines of IDR 300.0000.000 (three hundred million Indonesian Rupiah).
These fines should be paid from the cash brought by the individual right on the spot. In terms of other payment instruments, fines shall be calculated from the amount stated in such instruments and be made at the latest 5 (five) working days as of the notification date from the customs officers.
The GR 99/2016 defines the other payment instruments are giro, checks, travel checks, promissory note and deposit certificates, while cash refers to Indonesian Rupiah and/or foreign currencies. The customs officers have full authority to interview or doing hand inspection or inspection to any individual’s belongings.
Article 2 of the GR 99/2016 stipulates that any individual bringing cash and/or other payment instruments exceeding IDR 100.000.000 (one hundred million Indonesian Rupiah) is required to declare it to the customs officers by filling out the form. In particular, any cash and/or other payment instruments exceeding such requirement and leaving Indonesia territory must be accompanied by the approval from Bank Indonesia.
Fines of 10% of the total cash and/or other payment instruments or maximum of IDR 300.0000.000 (three hundred million Indonesian Rupiah) apply to any individual bringing the cash as meant in Article 2 of the GR 99/2016 without declaring it.
Further, if the declared amount of cash is smaller than the actual cash, an individual shall be fined by 10% of the excess of actual cash and/or other payment instruments or by maximum fines of IDR 300.0000.000 (three hundred million Indonesian Rupiah).
These fines should be paid from the cash brought by the individual right on the spot. In terms of other payment instruments, fines shall be calculated from the amount stated in such instruments and be made at the latest 5 (five) working days as of the notification date from the customs officers.
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