Tax Office announced almost 100% year-on-year jump in oil and gas income tax (PPh Migas) collected in January 2017, thanks to higher average price of crude oil. State revenues from oil and gas should also increase significantly in February because average OPEC basket price was US$53.37 per barrel, an increase of 85.8% from February 2016. Month-to-date, OPEC basket price is US$53.51, representing 54% jump from March 2016. Assuming no significant change in volume, the State Budget should have been lifted by higher average price of crude oil in the first quarter of 2017.To subscribe please click here