PSC Accounting and Taxation

DESCRIPTION

Accounting Records-Financial Reports are mandatory requirements of the management and the employees of a PSC Company and in fulfilling the requirements of several stakeholders such SKKMIGAS, BPKP, BPK, Owners’ audit, Unit’s audit, Indonesia Tax Office, internal audit, and Independent audit. PSC Contractor/Operator shall be responsible to have and maintained the in house accounting systems in order to record each financial transaction into the adopted accounting systems and interpret each annual data into SKKMIGAS’ Financial Budget and reporting and expenditures (as ruled by the SKKMIGAS’s Financial Budget and Reporting Procedures Manual).

As promulgated by the PSC Agreement as a bounding legal-law between PSC Contractor and SKKMIGAS/GOI which specifically declares that PSC Contractor is duly liable for providing funds and technical experts for its operations to explore and produce the oil and or gas through planning and performing all upstream activities during the operations, and allows PSC to use an accounting system in the PSC company.

During the training phases will be given a clear understanding and showing the participant how the expenditures (costs) of each upstream activity financially processed through the Oil and Gas Industry accounting or records systems. Starting from the acquisition costs of a PSC Block, exploration, development, and routine production operations stages.

PURPOSE

1. 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
2. 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
3. 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
4. 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)

MATERI

• Overview of PSC
• Basic Principle
• Exploration & Development Activities
• Production Activities
• Supporting Activities
• Lifting Sharing Analysis
• Fiscal term
• PSC Accounting
• WP&B
• Budget Preparation
• AFE
• PSC Taxation Overview
• Taxation Principle of Upstream Oil & Gas Industry
• Income Tax & Final Tax
• PSC Accounting vs General Taxation

TRAINING METHOD

Presentation

Discussion

Case Study

Evaluation

FACILITY

Training Kit

Handout

Certificate

Lunch + 2x Coffee Break

Souvenir

Pick Up Participant (Yogyakarta)

Form Pre-Registrasi

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Topik Training	: PSC Accounting and Taxation
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