The government will soon issue a revision of Government Regulation No. 79 Year 2010 regarding the investment costs to be refunded (cost recovery). This revision is claimed to provide incentives alleviate the oil and gas business in Indonesia. Director of the Oil and Gas Ministry of Energy and Mineral Resources (ESDM) I Gusti Nyoman Wiratmaja said, the revised cost recovery that a regulation has been completed. Currently the new regulations are still in the process of legislation. "Soon, who clearly had not in MEMR again. It (revision of Government Regulation (PP) 79/2020) so we wait, "he said.
Deputy Fiscal Policy Office, Ministry of Finance Goro Ekanto added, the revision of PP cost recovery is already in the Secretariat of State. Furthermore, there will be a discussion between the Coordinating Ministry for the Economy, Ministry of Energy, and the State Secretariat. "That is no longer," he said. Wiratmaja reveal some points of the revision of PP 79/2010. The new beleid it will provide certainty about taxation in the oil and gas business. , Stated that the facility will also clarify the non-fiscal incentives which can be acquired oil and gas companies, including investment credits, accelerated depreciation, and DMO (domestic market obligation / liabilities of domestic supply).
As for the fiscal incentives've mentioned before that, at the time of exploration and exploitation, value-added tax (VAT) of imports, import duties, VAT in the country, and the land and building tax (PBB) will be borne by the State. In addition, oil and gas contractors will also get tax exemption (income tax) deduction for loading the operating costs of shared facilities in order to utilize state property and the allocation of overhead costs headquarters. Wiratmaja call, PP 79/2010 does not provide this assurance. "Then POD Base Block Base converted into," he said. , Stated a long time, nor is there clarity related to this Base Block.
Furthermore, the revision of PP 79/2010 is called also apply the concept of sliding scale for the results. With this scheme, the government can earn a share higher if there is a windfall profit. Lastly, it also contains the revised standards and norms for the same examination with the examination guidelines used by the Special Unit of Upstream Oil and Gas (SKK Migas) and the Directorate General of Taxation. In the old rules, the concept for the results of the principle of a fixed scale, so that the country does not gain additional revenue when there is a windfall profit.
While the matter of the inspection, audit conducted plated by several institutions, namely SKK Migas, the Supreme Audit Agency (BPK), Finance Comptroller (BPKP), and the Directorate General of Taxation. However, Goro added, the principle Assume and Discharge requested by oil and gas companies can not be given in the revised PP's cost recovery. Because the Act does not allow the application of this principle. Nevertheless, government facilities equivalent to those principles. "Technically we agree trimmings should be lightened.
When exploration, there is this new provision should ease, "he added. In the draft revision of PP 79/2010 obtained Investor Daily mentioned Minister may determine the form and amount of incentives for the development of the upstream activities of oil and gas blocks, especially regarding the project economics. Incentives can be given in the form of tax incentives and non-tax revenues in accordance with the provisions of laws and regulations.
Previously, the Government agreed to revise PP 79/2010 in order to attract investment. In that revision, the government will provide non-fiscal incentives which raise the economics of the project, as well as applying the concept of sharing the pain and the gain. PP 79/2010 need to be revised due to the inhibition of the national oil and gas investment. Otherwise look for solutions, this policy will make the upstream oil and gas activity continues to decrease, as reflected in the continued decline in oil production of 800 thousand barrels per day (bpd) this year and is predicted to be 400 thousand bpd in 2020. This decrease is not only because of oil and gas wells is old, but also the lack of exploration activity.
The government has detailed a number of issues related to PP 79/2010. First, the implementation of PP 79/2010 delete assume and discharge regime in which the government will replace all indirect taxes paid by contractors through re-imbusement. PP 79/2010 turn it into a cost recovery regime where tax is paid to the contractor as operating costs and can enter cost recovery.
These changes increase the risk assessed to be borne by investors. Because the oil and gas contractors must bear the tax even since the time of exploration that if it fails, then it becomes a permanent burden of investors. Elimination assume and discharge also makes the economics of the project is in decline, especially in the deep sea projects need a big cost
IN INDONESIAN
Revisi Peraturan Pemerintah (PP) Cost Recovery Segera Terbit
Pemerintah segera menerbitkan revisi Peraturan Pemerintah No 79 Tahun 2010 tentang biaya investasi yang dapat dikembalikan (cost recovery). Revisi ini diklaim memberikan insentif yang meringankan bisnis migas di Indonesia. Direktur Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) I Gusti Nyoman Wiratmaja mengatakan, revisi beleid cost recovery itu sudah selesai. Saat ini peraturan baru ini masih dalam proses perundangan. “Sebentar lagi, yang jelas sudah bukan di Kementerian ESDM lagi. Itu (revisi Peraturan Pemerintah (PP) 79/2020) sangat kami tunggu,” kata dia.
Wakil Badan Kebijakan Fiskal Kementerian Keuangan Goro Ekanto menambahkan, revisi PP cost recovery ini sudah di Sekretariat Negara. Selanjutnya, bakal ada diskusi antara Kementerian Koordinator Perekonomian, Kementerian ESDM, dan Sekretariat Negara. “Artinya tidak lama lagi,” ujarnya. Wiratmaja membeberkan beberapa poin revisi PP 79/2010. Beleid baru itu bakal memberikan kepastian soal perpajakan dalam bisnis migas. Beleid itu juga akan memperjelas fasilitas insentif non fiskal yang dapat diperoleh perusahaan migas, diantaranya investment credit, percepatan depresiasi, dan DMO (domestic market obligation/ kewajiban pasok dalam negeri).
Sementara untuk insentif fiskal tersebut pernah disebutkan sebelumnya yakni, pada masa eksplorasi dan eksploitasi, pajak pertambahan nilai (PPN) impor, bea masuk, PPN dalam negeri, dan pajak bumi dan bangunan (PBB) akan ditanggung oleh Negara. Selain itu, kontraktor migas juga akan memperoleh pembebasan pajak penghasilan (PPh) pemotongan atas pembebanan biaya operasi fasilitas bersama dalam rangka pemanfaatan barang milik negara dan alokasi biaya overhead kantor pusat. Wiratmaja menyebut, PP 79/2010 tidak memberikan kepastian ini. “Kemudian POD Basis diubah menjadi Block Basis,” katanya. Dalam beleid lama, juga tidak ada kejelasan terkait Block Basis ini.
Selanjutnya, revisi PP 79/2010 ini disebutnya juga menerapkan konsep bagi hasil sliding scale. Dengan skema ini, pemerintah bisa memperoleh bagi hasil lebih besar apabila terdapat windfall profit. Terakhir, revisi itu juga memuat standar dan norma pemeriksaan yang sama dengan pedoman pemeriksaan yang digunakan oleh Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) dan Ditjen Pajak. Dalam peraturan lama, konsep bagi hasil menganut prinsip fixed scale, sehingga negara tidak mendapat tambahan bagi hasil ketika terdapat windfall profit.
Sementara soal pemeriksaan, audit-nya dilakukan berlapis oleh beberapa institusi, yakni SKK Migas, Badan Pemeriksa Keuangan (BPK), Badan Pengawasan Keuangan Pembangunan (BPKP), serta Ditjen Pajak. Namun, Goro menambahkan, prinsip Assume and Discharge yang diminta oleh perusahaan migas tidak bisa diberikan dalam revisi PP cost recovery itu. Pasalnya, Undang-Undang tidak membolehkan pemberlakuan prinsip ini. Meski demikian, pemerintah fasilitas yang setara dengan prinsip tersebut. “Secara teknis kami setuju fasilitasnya harusnya meringankan.
Saat eksplorasi, ada ketentuan baru ini harusnya meringankan,” tambahnya. Dalam draf revisi PP 79/ 2010 yang diperoleh Investor Daily disebutkan Menteri ESDM dapat menetapkan bentuk dan besaran insentif kegiatan hulu untuk pengembangan blok migas, terutama menyangkut keekonomian proyek. Insentif yang diberikan bisa berupa insentif perpajakan dan penerimaan negara bukan pajak sesuai dengan ketentuan peraturan perundangan.
Sebelumnya, Pemerintah sepakat merevisi PP 79/2010 guna menarik investasi. Dalam revisi itu, pemerintah akan memberikan insentif fiskal dan non-fiskal yang menaikkan keekonomian proyek, serta menerapkan konsep sharing the pain and the gain. PP 79/ 2010 perlu direvisi lantaran menjadi penghambatan investasi migas nasional. Jika tidak dicarikan solusi, beleid ini bakal membuat kegiatan hulu migas terus berkurang yang tercermin dari terus menurunnya produksi minyak dari 800 ribu barel per hari (bph) pada tahun ini dan diprediksi menjadi 400 ribu bph pada 2020. Penurunan ini bukan hanya lantaran sumur migas yang sudah tua, tetapi juga tidak adanya kegiatan eksplorasi.
Pemerintah telah merinci sejumlah permasalahan terkait PP 79/2010. Pertama, pemberlakuan PP 79/ 2010 menghapus rezim assume and discharge dimana pemerintah akan mengganti seluruh pajak tidak langsung yang dibayar kontraktor melalui re-imbusement. PP 79/ 2010 mengubahnya menjadi rezim cost recovery dimana pajak tersebut dibayar pada kontraktor sebagai biaya operasi dan dapat masuk cost recovery.
Perubahan ini dinilai memperbesar risiko yang harus ditanggung investor. Pasalnya, kontraktor migas harus menanggung pajak bahkan sejak masa eksplorasi yang jika gagal, maka menjadi beban permanen investor. Penghapusan assume and discharge juga membuat keekonomian proyek semakin menurun, utamanya di proyek laut dalam yang butuh biaya besar
Investor Daily, Page-9, Thursday, 2, Feb, 2017
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