The Government has accelerated the preparation of Government Regulation (PP) on taxation imposed on production sharing contract (PSC) for gross profit (gross split). The new regulation is expected to be published before the first auction of the 2017 oil and gas block ends on 27 November.
Secretary of the Directorate General of Oil and Gas of the Ministry of Energy and Mineral Resources (ESDM) Susyanto said that the draft PP on tax on gross split oil and gas contracts has been completed.
"We are seeking the principle approval from the President," he said in Jakarta, Tuesday (11/7).
However, according to Susyanto, it can not be sure when the PP gross split oil tax contract is issued.
"You see, once the approval is obtained, the ESDM Ministry should still discuss it again with the Inter-Ministerial Committee (PAK)," he said.
He acknowledged, the process of issuing PP on tax contracts of gross split oil can be accelerated by only meeting one to two times only.
"Acceleration indeed needs to be done because the PP is needed for the auction of oil and gas blocks attracted investors. So, very, very
we expect for this period. Hope can be, "he said.
The government has held 15 oil and gas block auctions since the middle of this year. Due to lonely interest, the auction period is extended by the time limit of document access until 20 November 2017 and the submission of documents for maximum participation of 27 November 2017.
A total of 19 oil and gas companies have taken the auction documents, but not one of them has included a document of participation.
"No one has entered the document yet. Therefore, oil and gas companies are still waiting for PP on gross split tax, "he said.
Susyanto revealed, in principle, the points in the draft PP of oil and gas contracts gross split will not be changed again. It's just that the payment of indirect taxes that are substituted for additional split will not be included in the PP. This clause will be included in the Ministerial Regulation.
"Indirect tax is not regulated in the PP but submitted to the Ministry of Energy and Mineral Resources, because it is the authority of the minister of ESDM. So, it should not be regulated in the Government Regulation but submitted to the Ministry of Energy and Mineral Resources, because it is the authority of the minister of ESDM. So, it should not be regulated in the Government Regulation but regulated in the Ministerial Regulation, "he said.
However, that does not mean there will be a new derivative of the contract tax on oil and gas gross split. The Ministry of Energy and Mineral Resources will include a split addition clause in revision 52/2017 which is a revision of 8/2017 on the contract rules of oil and gas gross split scheme.
"Not making new, change 52/2017 alone, modified a bit," he said.
Separately, President Director of PT Pertamina Hulu Energi (PHE) Gunung Sardjono Hadi explained, the PP gross split oil and gas contract tax is urgently issued. This regulation is needed to provide long-term business certainty.
"If there is no certainty, it will be difficult if the evaluation results will change again, especially regarding the tax problem," he said.
The same thing was stated by Pertamina Upstream Director Syamsu Alam. PP gross split oil and gas contract tax should be issued soon so that the rules of gross split taxation becomes clear because tax becomes one of the factors that affect the economy. Of course we also hope that the regulation can encourage investment programs that are currently required, especially in the upstream sector of oil and gas, "he said.
Give Incentives
Deputy Minister of EMR, Arcandra Tahar, acknowledged that the draft PP of oil and gas contract of gross split has been prepared. Two points that previously became a problem, namely the matter of indirect tax and the provision of deferred tax loss carry forward (tax loss carry forward), has been settled, following the agreement of the Ministry of Energy and Mineral Resources (Kemenkeu).
"For the draft PP gross split contract tax, inter-ministry has been settled," he said.
He explains, through the PP tax contract oil and gas gross split, the government will provide incentives to oil and gas companies. During the exploration period, oil and gas companies will be exempted from land and building tax (PBB) and import duties (BM). Oil and gas company according to Arcandra Tahar, will not be subject to indirect taxes during the exploration period, starting from the approval of the plan of development (POD) to the first oil production.
"After that (from first oil to break even point / BEP), if the economy is not enough to be compensated with split. Level the economics of this project is based on the calculations made during the compilation of POD, "said Arcandra.
He added that the replacement with the split would be a ministerial discretion of ESDM. Regarding the amount of split that will be given, there is no limit on certain numbers.
Not only that, according to Arcandra, investors will also get a facility deferred income tax payment for 10 years. That is because at the beginning of the oil and gas project, oil and gas companies have not yet earned revenue from the project. Furthermore, all expenses incurred until the first drops of oil are produced will be tax deductions for up to 10 years.
"Well, that's called accelerated depreciation. Later calculation formula is in the PP, "said Arcandra.
PP tax on oil and gas contracts gross split will complement about gros split. Arcandra previously stated that the internal rate of return (IRR) of oil and gas blocks using the gross split contract based on 52/2017 is no less competitive than the cost recovery contract.
In fact, in several oil and gas blocks, the simulation results show that IRR gross split contract is better than cost recovery. This condition, he said, is much better than when the gross split contract is still referring to the old Regulation, which is 8 / 2017. In the simulation, once the reference is changed to 52/2017, IRR oil and gas blocks rose significantly.
In some oil and gas blocks, IRR increases reach 2-5%. However, there are also oil and gas blocks whose IRR soared to 12%. On average, the oil and gas IRR increased 6.55%. The government hopes 52/2017 and the tax on gross split contracts will attract investors. The government is auctioning 15 oil and gas blocks, 10 conventional oil and gas blocks and five unconventional oil and gas blocks.
A total of 10 conventional oil and gas blocks have potential oil reserves of about 830 million barrels and 22 trillion cubic feet of gas. The oil potential for five non-conventional oil and gas blocks is about 640 million barrels and 17 trillion cubic feet of gas.
Oil and Gas Block
Conventional oil and gas blocks auctioned through direct offerings are the Andaman I and Iaman Block II offshore Aceh, South Tuna offshore Natuna, and Merak Lampung offshore and Banten mainland Lampung. Others are Pekawai off the coast of East Kalimantan, West Yamdena offshore and inland Maluku, and Kasuri III in West Papua.
The offered through regular auctions are the Tongko Block offshore Natuna, East Tanimbar off the coast of Maluku, and Mamberano on the mainland and off Papua monitor. Furthermore, three non-conventional oil and gas blocks are tendered through direct offer, namely MNK Jambi I in Jambi, MNK H in Jambi and Sumatera, and GMB West Air Komering in South Sumatra. Finally, GMB Raja and GMB Bungamas in South Sumatra are offered through regular auctions.
"Indirect taxes they pay. So, per project is different, "he said.
IN INDONESIA
PP Pajak Gross Split Tunggu Persetujuan Presiden
Pemerintah mempercepat penyusunan Peraturan Pemerintah (PP) tentang perpajakan yang dikenakan terhadap kontrak kerja sama (production sharing contract/ PSC) bagi hasil kotor (gross split). Regulasi baru ini diharapkan terbit sebelum lelang blok migas periode pertama 2017 berakhir pada 27 November.
Sekretaris Direktorat Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Susyanto menuturkan, draf PP tentang pajak kontrak migas gross split sudah rampung disusun.
“Kami sedang meminta persetujuan prinsip dari Presiden,” kata dia di Jakarta, Selasa (11/7).
Meski demikian, menurut Susyanto, pihaknya tidak dapat memastikan kapan PP pajak kontrak migas gross split diterbitkan.
“Soalnya, begitu persetujuan diperoleh, Kementerian ESDM masih harus membahasnya lagi dengan Panitia Antar Kementerian (PAK),”
ujar dia.
Dia mengakui, proses penerbitan PP tentang pajak kontrak migas gross split bisa dipercepat dengan hanya melakukan rapat satu hingga dua kali saja.
“Percepatan memang perlu dilakukan karena PP ini sangat dibutuhkan agar lelang blok migas diminati investor. Jadi, sangat-sangat kami harapkan untuk periode ini. Semoga bisa,” papar dia.
Pemerintah telah menggelar lelang 15 blok migas sejak pertengahan tahun ini. Karena sepi peminat, periode lelang diperpanjang dengan batas waktu akses dokumen sampai 20 November 2017 dan pemasukan dokumen partisipasi maksimal 27 November 2017.
Sebanyak 19 perusahaan migas sudah mengambil dokumen lelang, tetapi belum satu pun yang memasukkan dokumen partisipasi.
“Belum ada yang memasukkan dokumen. Oleh karena itu, perusahaan migas masih menunggu PP tentang pajak gross split,” katanya.
Susyanto mengungkapkan, secara prinsip, poin-poin dalam draf PP pajak kontrak migas gross split tidak akan diubah lagi. Hanya saja, tentang pembayaran pajak-pajak tidak langsung (indirect tax) yang diganti tambahan bagi hasil (split) tidak akan dimasukkan dalam PP tersebut. Klausul ini bakal dimasukkan dalam Peraturan Menteri.
“Indirect tax tidak diatur di PP tetapi diserahkan kepada Kementerian ESDM, karena hal itu wewenang menteri ESDM. Jadi, tidak usah diatur di Peraturan Pemerintah tetapi diserahkan ke Kementerian ESDM, karena hal itu wewenang menteri ESDM. Jadi, tidak usah diatur di Peraturan Pemerintah tetapi diatur di Peraturan Menteri,” katanya.
Namun, bukan berarti bakal ada baru turunan PP pajak kontrak migas gross split. Kementerian ESDM bakal memasukkan klausul penambahan split dalam revisi 52/2017 yang merupakan revisi 8/2017 tentang aturan kontrak migas skema gross split.
"Tidak membuat baru, mengubah 52/2017 saja, diubah sedikit,” ucap dia.
Secara terpisah, Presiden Direktur PT Pertamina Hulu Energi (PHE) Gunung Sardjono Hadi menjelaskan, PP pajak kontrak migas gross split sangat mendesak diterbitkan. Regulasi ini dibutuhkan untuk memberikan kepastian bisnis jangka panjang.
“Kalau belum ada kepastian, akan sulit jika hasil evaluasi nanti berubah lagi, terutama menyangkut masalah tax-nya,” tegas dia.
Hal senada dikemukakan Direktur Hulu Pertamina Syamsu Alam. PP pajak kontrak migas gross split perlu segera diterbitkan sehingga aturan perpajakan gross split menjadi jelas karena pajak menjadi salah satu faktor yang memengaruhi keekonomian. Tentu kami juga berharap peraturan tersebut dapat mendorong program-program investasi yang memang saat ini diperlukan, terutama di sektor hulu migas,” ujar dia.
Beri Insentif
Wakil Menteri ESDM Arcandra Tahar mengakui, draf PP pajak kontrak migas gross split sudah selesai disusun. Dua poin yang sebelumnya menjadi masalah, yakni soal indirect tax dan ketentuan penangguhan pembayaran pajak penghasilan (tax loss carry forward), sudah diselesaikan, menyusul kesepakatan Kementerian ESDM dengan Kementerian Keuangan (Kemenkeu).
“Untuk draf PP pajak kontrak gross split, antar kementerian sudah beres,” kata dia.
Dia menjelaskan, melalui PP pajak kontrak migas gross split, pemerintah akan memberikan insentif kepada perusahaan migas. Selama masa eksplorasi, perusahaan migas akan dibebaskan dari pajak bumi dan bangunan (PBB) dan bea masuk (BM). Perusahaan migas menurut Arcandra Tahar, tidak akan dikenai pajak-pajak tidak langsung selama masa eksplorasi, yakni mulai persetujuan rencana pengembangan (plan of development/ POD) hingga produksi minyak pertama (first oil).
“Setelah itu (dari first oil hingga break even point/ BEP), kalau keekonomiannya tidak cukup akan dikompensasikan dengan split. Tingkat keekonomian proyek ini berdasarkan hitungan semasa menyusun POD,” tutur Arcandra.
Dia menambahkan, penggantian dengan split itu akan menjadi diskresi menteri ESDM. Mengenai besaran split yang akan diberikan, tidak ada batasan angka tertentu.
“Sebesar (indirect tax) yang mereka bayarkan. Jadi, per proyek beda-beda,” ucap dia.
Tidak hanya itu, menurut Arcandra, investor juga akan memperoleh fasilitas penangguhan pembayaran pajak penghasilan selama 10 tahun. Itu karena pada awal proyek migas, perusahaan migas belum memperoleh pendapatan dari proyek yang dikerjakan. Selanjutnya, seluruh biaya yang dikeluarkan sampai dihasilkan tetes minyak pertama akan menjadi pengurang pajak sampai 10 tahun.
“Nah, itu dinamakan depresiasi yang dipercepat. Nanti rumus perhitungannya ada di PP itu,” kata Arcandra.
PP pajak kontrak migas gross split bakal melengkapi tentang gros split. Arcandra sebelumnya menyatakan, tingkat pengembalian investasi (internal rate of return/IRR) blok migas yang menggunakan kontrak gross split berdasarkan 52/2017 tidak kalah kompetitif dibandingkan kontrak cost recovery.
Bahkan, pada beberapa blok migas, hasil simulasi menunjukkan IRR kontrak gross split lebih baik dibandingkan cost recovery. Kondisi ini, kata dia, jauh lebih baik dibandingkan ketika kontrak gross split masih mengacu Regulasi lama, yakni 8/ 2017. Pada simulasi itu, begitu acuannya diubah menjadi 52/ 2017, IRR blok migas naik signifikan.
Di beberapa blok migas, kenaikan IRR mencapai 2-5%. Namun, ada juga blok migas yang IRR-nya melejit hingga 12%. Secara rata-rata, IRR blok migas naik 6,55%. Pemerintah berharap 52/ 2017 dan PP pajak kontrak gross split bakal menarik investor. Pemerintah sedang melelang 15 blok migas, 10 blok migas konvensional, dan lima blok migas nonkonvensional.
Sebanyak 10 blok migas konvensional memiliki potensi cadangan minyak sekitar 830 juta barel dan gas 22 triliun kaki kubik. Sedangkan potensi minyak untuk lima blok migas nonkonvensional sekitar 640 juta barel dan gas 17 triliun kaki kubik.
Blok migas konvensional yang dilelang melalui penawaran langsung adalah Blok Andaman I dan Andaman II di lepas pantai Aceh, South Tuna di lepas pantai Natuna, serta Merak Lampung di lepas pantai dan daratan Banten Lampung. Lainnya adalah Pekawai di lepas pantai Kalimantan Timur, West Yamdena di lepas pantai dan daratan Maluku, dan Kasuri III di Papua Barat.
Adapun yang ditawarkan melalui lelang reguler yaitu Blok Tongko di lepas pantai Natuna, East Tanimbar di lepas pantai Maluku, dan Mamberano di daratan dan lepas pantau Papua. Selanjutnya tiga blok migas nonkonvensional dilelang melalui penawaran langsung, yakni MNK Jambi I di Jambi, MNK H di Jambi dan Sumatera, serta GMB West Air Komering di Sumatera Selatan. Terakhir, GMB Raja dan GMB Bungamas di Sumatera Selatan ditawarkan melalui lelang reguler.
Investor Daily, Page-1, Wednesday, Nov 8, 2017
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