04 January 2023

Improving Tax Collaboration and Competence, Elnusa Holds Tax Corporate Parenting Program

Jakarta, 04 January 2023 - PT Elnusa Tbk (Elnusa) through the Strategic Tax Management Department in the Controller Division initiated the implementation of the Tax Corporate Parenting Program for all tax functions in Elnusa Group's Subsidiaries (AP) and Joint Operations (KSO). As many as 16 participants attended to discuss and collaborate on the topic "Tax Balance Sheet Integrity" which is the theme of the 2022 Tax Corporate Parenting Program. The activity was carried out offline on Thursday (29/12/2022) in the NHO Lounge Room, Graha Elnusa. involving Elnusa Group Officers from representatives of Elnusa's tax function, PT Elnusa Petrofin (EPN), PT Elnusa Trans Samudera (ETSA), PT Elnusa Construction Fabrication (EFK), PT Sigma Cipta Utama (SCU), PT Patra Nusa Data (PND), PT Elnusa Geosains Indonesia (EGI), PT Elnusa Oilfield Service (EOS), KSO Elnusa Raga, and KSO Elnusa Waskita.

SM of Strategic Tax Management, Yuda Aryanto in his remarks said "This program was rolled out in the context of the implementation of the Decree of the Directors of PT Elnusa Tbk No. 010/EN/KPTS/005D/2022 dated 02 February 2022 concerning Management of Organizations Related to Corporation Management at PT Elnusa Tbk.”

Yuda added, "This program is also the implementation of corporate management as a strategic alignment effort to strengthen the synergy of the Elnusa Group, as well as policy standardization to ensure the achievement of the Company's targets."

In addition to information, Tax Balance Sheet Integrity standardizes and automates reconciliation, streamlining and controlling closed cycles to minimize the risk of material errors and misstatements and enable the finance function to focus their efforts on carrying out value-added activities and provide confidence and trust in financial reports.

At the end of each financial period, the tax function is required to check each tax account (such as Prepaid Tax, Tax Payable, Deferred Tax Asset, or Accrued Tax Expense) in the company's General Ledger to verify that the balance stated in these records is correct and accurate. This involves comparing General Ledger account balances with other sources of this data, such as Periodic and Annual Tax Returns (SPT). This process is known as tax account reconciliation and is the method used to ensure Tax Balance Sheet Integrity.

"Implementation of the Tax Corporate Parenting Program is a concrete manifestation of the implementation of AKHLAK's values, namely collaboration and competence, hopefully in the future this will become a template for sustainable activities in taxation at the Company." Close Juda.

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