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Monday, May 29, 2017

Government Provides Incentive of Oil and Gas Business Taxes



PP 79/2010 was finally revised and provided some tax facilities to the upstream oil and gas industry

The Government finally finalized the final draft of Government Regulation Revision No. 79/2010 on the Cost of Restructured Operations and the Treatment of Income Tax in Upstream Business Field. Under the regulation, the government promised a number of tax incentives for oil and gas contractors.

Deputy Minister of Energy and Mineral Resources Arcandra Tahar sure, if revised PP 79/2010 issued, upstream oil and gas investment will be more. In the end, exploration activities are increasing and taxation issues can be solved. According to Arcandra, he also revised as soon as possible what the expectations of Indonesia Petroleum Association (IPA). "It's not just about taxes, but more than tax issues. We try to hear what makes the oil and gas business better, "he said last week, in The 41 Indonesian Petroleum Association Convention and Exhibition event at JCC.

The final draft of revision of Government Regulation No. 79/2010 The contents do not mention explicitly the principle of assume and discharge. However, Article 26A, Article 2613, Article 26C and Article 26D, which is the article of tax facilities, stipulates that some tax provisions are exempted, even pending the Regulation of the Minister of Finance

In response to the revised agenda, IPA continues to call for the principle of assume and discharge in revision of Government Regulation 79. "Contracts prior to 2010 remain respected," said Marjolin Wanong IPA Executive Director

Sammy Hamzah, Chairman of the Indonesian Employers Association (Apindo), stated the importance of assume and discharge in the revision of the rules. "I do not know the details, but the important thing is the presence or enforcement of elements of assume and discharge," said Sammy

Nevertheless, despite not having read the draft, several points, Sammy commented, in general the points in the draft are quite positive. Broadly speaking what is described is quite positive. But we just really can respond more detail after the PP-n we received, said Sammy.

Meanwhile, Adiatma Sardjito Vice President Corporate Communication of PT Pertamina, admitted reading about the final draft of the 79/2010 PP. I need first input from my explorers and law associates (to respond to the draft).

As is known, PP No. 79/2010 brought disaster to the upstream oil and gas industry for 7 years, then, since the Government Regulation No. 79/2010 was published, IPA often protested about the rules. Especially when the oil and gas industry is sluggish because the price of oil has not been up.

Not necessarily grow

Fahmi Radhi, Energy Observer from Gadjah Mada University, stated that the taxation issue has become one of the obstacles for oil and gas investors. Revision of Government Regulation 79/2010 does not guarantee to lift oil and gas investment in Indonesia.

There are several variables that cause the decline of oil and gas investment. One of them is the change of contract regime from production sharing contract (PSC) to gross split.

According to him, oil and gas contractors that have been operating and have been comfortable with oil and gas production shaving contract schemes tend to wait to wait (wait and see). So that (gross split) is a potential to reduce oil and gas investment. Fahmi suggested that PSC cost recovery can still be used by contractors for up to 5 years.

IN  INDONESIAN

Pemerintah Memberikan Insentif Pajak Bisnis Migas


PP 79/2010 akhirnya direvisi dan memberikan beberapa fasilitas pajak ke industri hulu migas

Pemerintiah akhirnya menyelesaikan draf final revisi Peraturan Pemerintah No 79/2010 tentang tentang Biaya Operasi yang Dapat Dikembalikan dan Perlakuan Pajak Penghasilan di Bidang Usaha Hulu. Dalam aturan itu, pemerintah menjanjikan sejumlah insentif perpajakan bagi kontraktor migas.

Wakil Menteri Energi dan Sumber Daya Mineral Arcandra Tahar yakin, jika revisi PP 79/2010 terbit, investasi hulu migas akan lebih banyak. Ujungnya, kegiatan eksplorasi meningkat dan masalah perpajakan bisa selesai. Menurut Arcandra, ia juga merevisi secepat mungkin apa yang menjadi ekspektasi Indonesia Petroleum Association (IPA). “Tidak hanya soal pajak, tapi lebih daripada masalah pajak. Kami coba mendengar apa yang membuat bisnis migas lebih baik," ungkap dia pekan lalu, dalam acara The 41 Indonesian Petroleum Association Convention and Exhibition di JCC.

Draf final revisi PP No 79/2010 Isinya tidak menyebutkan secara eksplisit soal prinsip assume and discharge. Namun, Pasal 26A, Pasal 2613, Pasal 26C dan Pasal 26D, yang merupakan pasal fasilitas perpajakan, menyebutkan beberapa ketentuan pajak dibebaskan, meski menunggu aturan Menteri Keuangan 

Menanggapi agenda revisi itu, IPA tetap meminta berlakunya prinsip assume and discharge dalam revisi PP 79. “Kontrak sebelum tahun 2010 tetap dihormati," Kata Marjolin Wanong Direktur Eksekutif IPA 

Sammy Hamzah, Ketua Asosiasi Pengusaha Indonesia (Apindo), menyatakan pentingnya assume and discharge dalam revisi aturan. "Saya tidak tahu detailnya, tapi yang penting adanya atau diberlakukannya unsur assume and discharge," jelas Sammy 

Namun demikian, meski belum membaca draf, beberapa poin, Sammy berkomentar, secara garis besar poin- poin dalam draf tersebut cukup positif. Secara garis besar apa yang dijabarkan cukup positif. Tapi kami baru benar-benar bisa menanggapi lebih detail setelah PP-n kami terima, ujar Sammy.

Sementara, Adiatma Sardjito Vice President Corporate Communication PT Pertamina, mengaku belun membaca soal draf final PP 79/2010 itu. Saya perlu masukan dulu dari kawan-kawan eksplorasi dan rekan hukum (untuk tanggapi soal draft itu).

Seperti diketahui, PP No 79/2010 membawa petaka ke industri hulu migas selama 7 tahun ini, maka, sejak PP No 79/2010 itu terbit, IPA sering memprotes soal aturan tersebut. Apalagi saat ini industri migas sedang lesu karena harga minyak belum juga naik. 

Belum tentu tumbuh

Fahmi Radhi, Pengamat Energi dari Universitas Gajah Mada, menyatakan, masalah perpajakan selama ini memang menjadi salah satu hambatan bagi investor migas. Revisi PP 79/2010 tidak menjamin akan mengangkat investasi migas di Indonesia.

Ada beberapa variabel yang menyebabkan penurunan investasi migas. Salah satunya adalah perubahan rezim contract dari production sharing contract (PSC) menjadi gross split.

Menurut dia, kontraktor migas yang sudah beroperasi dan selama ini merasa nyaman dengan skema production shaving contract bisnis migas cenderung menunggu bersikap menunggu (wait and see). Sehingga (gross split) ini yang berpotensi menurunkan investasi migas. Fahmi menyarankan agar PSC cost recovery masih bisa dipakai oleh kontraktor sampai 5 tahun ke depan.

Kontan, Page-14, Monday, May 22, 2017

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