MOF issues new regulation on oil, gas revenue split
Thursday, July 12 2012 - 02:56 AM WIB
Minister of Finance (MOF) Agus Martowardojo has issued a new regulation on the mechanism to distribute the revenue split underpayment from oil and gas production to the producing regions in the country.
The newly issued regulation No 78/PMK07/2012 rules the mechanism to distribute the revenue share underpayment from oil and gas during the fiscal year of 2011 that will be allocated from the amended 2012 state budget for the producing-provinces, regencies, and mayoralties, said the ministry?s Communication and Information Services Bureau Chief Yudi Pramadi as reported by Investor Daily in Jakarta on Thursday.
According to the ministry, there is a total of Rp 3.8 trillion worth of oil and gas revenue which have yet to be distributed as non-tax income to 19 provinces, and 319 regencies/mayoralties for the 2011 budget year. (*)