Indonesia: PLN Profit Down 32.69% over Tax Amnesty

Indonesia: PLN Profit Down 32.69% over Tax Amnesty

State power company PLN (Persero) booked a net profit of Rp10.5 trillion in
2016. The figure represents a 32.69 percent decline from 2015's Rp15.6
trillion.

PLN director of corporate planning Nicke Widyawati said the profit decline
was due to the fact that PLN joined the tax amnesty program. "That's why our
tax expenses increased significantly in 2016," Nicke said in Jakarta
Wednesday, April 5.

PLN also spent 2016 seeking to provide competitive tariffs for
subscribers-both household and businesses.

PLN's tax expenses in 2016 rose 129.1 percent to Rp24 trillion.

Throughout last year, PLN's sales prices were lowered to an average of Rp994
per kWh. The figure is down from 2015's average of Rp1,035 per kWh.

"The price cuts were compensated by the company's internal efficiency
measures so it didn't erode profit much," Nicke said.

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Link to Original Article:
https://en.tempo.co/read/news/2017/04/05/056862982/PLN-Profit-Down-32.69%25-
over-Tax-Amnesty

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com