17 Oil and Gas Contractors Owe Rp 2.82 Trillion in Taxes

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05/10/2017 08:35 WIB

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Total Taxes of 17 Oil and Gas KKKS in Tax Year 2015

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Total Taxes of 17 Oil and Gas KKKS in Tax Year 2015

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The Indonesian Financial Audit Agency (BPK) found unpaid tax arrears owed by Oil and Gas Contractors (KKKS). According to the Semester I 2017 Summary of Audit Results (IHPS), 17 oil and gas contractors still owe US$209.25 million, or approximately Rp 2.82 trillion at an exchange rate of Rp 13,500 per US dollar.

Of the US$330.05 million (approximately Rp 4.46 trillion) in tax obligations owed by these 17 KKKS, only US$120.77 million (equivalent to Rp 1.63 trillion) has been paid. Of the US$209.25 million in underpayments, US$60 million was already disclosed in the BPK's Audit Report (LHP) on oil and gas profit sharing calculations in 2014, No. 20/AUDITAMA/VII/PDTT/03/2016 dated March 3, 2016. The BPK has requested that SKK Migas ensure that contractors with outstanding taxes are penalized in accordance with tax regulations.

The IHPS also revealed state revenue losses of US$1.18 billion, or Rp 15.89 trillion, in the oil and gas sector. These losses were due to non-compliance with regulations governing oil and gas profit calculations.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."