Government Provides Special Legal Protection for Patriot-White Bond Investors

JAKARTA - The government provides special legal protection to investors who buy special debt securities in the form of patriot bonds and red and white bonds issued by the Anagata Nusantara Power Investment Management Agency (Danantara).

This provision is regulated in Law Number 4 of 2026 concerning Amendments to Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK).

Through the revision of the rules, the government added Article 50A which specifically regulates the issuance of debt letters by Danantara. In addition to being able to issue conventional debt instruments, Danantara is also authorized to issue special debt letters in the form of patriot bonds and red and white bonds.

One of the provisions that is of concern is contained in Article 50A paragraph (5), namely in that article it is emphasized that the state guarantees and protects the purchase of special debt instruments from general criminal demands, special criminal offenses including tax offenses, as well as civil lawsuits.

"The state guarantees and protects the purchase of special debt instruments as referred to, from general criminal prosecution, special criminal prosecution including tax crimes, and from civil lawsuits," read Article 50A paragraph (5), quoted Sunday, June 21.

This protection is strengthened through Article 50A paragraph (6), which states that data and information derived from the purchase of special debt securities cannot be used as a basis for imposing taxes or used as evidence in legal proceedings in court.

Furthermore, Article 50A paragraph (7) states that the protection provisions as set out in paragraphs (5) and (6) only apply to transactions carried out in the primary market.

In addition to obtaining legal protection, investors are also given flexibility to transfer ownership or make special debt securities as collateral.

The revision of the P2SK Law also expands the scope of investors who can participate in the purchase of patriot bonds and red and white bonds.

Based on Article 50A paragraph (9), the investor in question includes taxpayers who have previously participated in the tax amnesty program or the Voluntary Disclosure Program (PPS).