Incentives for Oil & Gas

IN order to deal with continually decreasing oil production the government has abolished several taxes related to exploration activities. These include value-added tax and income tax on exploration goods for the oil, gas and geothermal sectors. “This is a permanent solution in order to stimulate the oil, gas and geothermal sectors,” said Purnomo Yusgiantoro, Minister for Energy & Mineral Resources.

This decision was made during a meeting bet

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