PSC ACCOUNTING & TAXATION

 

Course Description / Overview

This Training is designed to give the participants the ability to properly handle all PSC expenditures and costs classifications in accordance with the rules and laws including Tax Jobs as the basis for the participants to make judgment in dealing with, taxable and non-taxable costs, guide to determining the costs may directly subject to tax liability, tax planning, strategic, and decision making required by PSC management.

Course Objectives    

·         To equip the participants capability to identify, classify, record, and control all the expenditures incurred through the company operations and the understanding of tax implementation in the PSC and all other types of contracts in connection to procurement and services supplied to the PSC.

 

·         The General Tax Laws and regulations into the PSC operations can not escape, since Corporate Income Tax, withholding taxes related have forced PSC must do aware and concern about Indonesian Tax regulations.

also read:  Membuat Kerangka Penggajian Yang Efektif

·         To fully understand about problems arose in the implementation of the General Tax Laws and regulations, the impacts of the amendment of the tax laws, and what may be the consequences for PSCs in this situation.

 

·         To understand the related tax provisions in the New Oil & Gas Law, what have been changed, what are the prospective operations under the Cooperative Contract (PSC).

 

 

Course Content:

1.      Overview of PSC

a.       Basic Principle

b.      Exploration & Development Activities

c.       Production Activities

d.      Supporting Activities

e.       Lifting Sharing Analysis

f.       Fiscal term

2.      PSC Accounting

a.       Operating Cost

b.      Exploration Accounting

c.       Exploitation Accounting

d.      Administration Accounting

e.       Direct, Joint & Common Support Cost

f.       Transfer of Oil & Gas Cost

g.      Downtime Funds Accounting

h.      Labor Cost Accounting

i.        PPO

j.        Lifting Accounting

k.      Entitlement Accounting

l.        Lifting Variance Accounting

m.    LNG Lifting Accounting

n.      Accounting for Entitlement Based on the Take or Pay (TOP) Sales Clause

o.      Gas Imbalance Accounting

p.      LNG Swap Cargo Accounting

q.      Accounting for Income Tax and Dividend Tax from Oil and Gas Operations

r.        Accounting for Indirect Taxes

3.      PSC Taxation Overview

a.       Taxation Principle of  Upstream Oil & Gas Industry

b.      Income Tax & Final Tax

c.       Uniformity Principle

d.      Current Issues

4.      Taxation Treatment In PSC

a.       Gross Income And Contractor Income Reducers

b.      Recognition And Measurement Of Income

c.       Sharing Calculation

d.      Calculation of Income Tax

e.       Income Tax Outside PSC

f.       Contractor’s Obligation

g.      Tax Facilities based on PMKRI NUMBER 122 / PMK.03 / 2019