The New Oil and Gas Fiscal Incentive: Is It Necessary?

By Editorial Team 02/09/2019
Summary

The Finance Ministry is granting several fiscal incentives to the oil and gas contractors holding the production sharing contract (PSC) in the exploration and exploitation activities. The Finance Minister Regulation No. 122/PMK.03/2019 on the fiscal incentives, issued on August 27, 2019, will go into effect in the next 30 days.

The regulation allows the contractors to get the value-added tax and/or luxury tax reliefs as well as land and building tax reduction. The value-added taxes and/or luxury tax reliefs aim the contractors and operators which use particular, tangible taxable goods for exploration and exploration activities.

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