Govt asked to revise import duty regulation on oil, gas sector
Friday, February 4 2005 - 05:00 PM WIB
The Association of Oil and Gas Supporting Industrires (AIPM) has called on the Ministry of Finance to revise the regulation No. 6/2005 on the collection of import duty on capital goods used in oil and gas exploration and production activities, Investor daily reported on Saturday.
AIPM's secretary Heroe Hidayat said in Jakarta on Friday that the import duty had not only caused the swelling of the exploration and production costs but more importantly it was against the oil and gas law.
The association said that if the government refused to review the import duty regulation, most of its members would go bankrupt because in addition to import duties, they were also required to pay value added tax. (*)