TNF October 2019: Upstream Oil and Gas Activities Tax Facilities and Tax Treatment Clarification

TNF October 2019: Upstream Oil and Gas Activities Tax

1000
id-tnf-october-2019-2

The Minister of Finance issued Regulation No. 122/PMK.03/2019 (“PMK-122”) related to Upstream Oil and Gas Activities. PMK-122 provides tax facilities and tax treatment for charging costs of shared facilities and claiming Head Office cost allocations, which is applicable for PSCs signed both before and after the enactment of Law No. 22/2001, as well as after enactments of Government Regulations No. 79/2010 and No. 27/2017.

© 2023 Siddharta Widjaja & Rekan – Registered Public Accountants, an Indonesian partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organization please visit https://kpmg.com/governance.

They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Connect with us