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Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five years until June 2025 to allow electricity generation at lower costs, according to a notification issued on Tuesday.
The exemption is being offered at a time when three coal-fired power plants are being established in the public sector and one in Payara in the southern district of Patuakhali is likely to start producing around 660 megawatts of electricity next month.
Apart from this, four private sector coal-based power plants are in the process of being established, according to the minutes of a meeting between the NBR and Power Division in August this year.
A huge amount of coal would be required once these power plants go into operation.
The NBR said there were no customs and other duty for coal import.
After the VAT cut to 5 percent, a 5 percent advance tax and 5 percent advance income tax will still be applicable for private sector power plants.
Public sector power plants will need to pay only the 5 percent VAT to import coal, said an NBR official requesting anonymity.
As coal accounts for nearly 65 percent of the electricity production cost, a reduction in the VAT rate will bring down the cost of generation, said the meeting minutes.
Considering the issue, the NBR has decided to slash the VAT on coal import to help reduce the production cost, another NBR official had said earlier.
In its Tuesday’s notification, the tax administrator attached conditions for coal power plants to import coal.
Power producers will have to submit recommendation letters from Power Division to customs stations during release of coal.
Importers will also need to furnish a bill of entry, it said. A bill of entry is an account of goods entered at a customhouse, of imports and exports, detailing the merchant, quantity of goods, their type, and place of origin or destination.
The tax authority earlier provided duty benefit for the import of furnace oil, which is used in electricity generation, and liquefied natural gas.
The NBR in July 2013 offered a 15-year tax waiver for electricity generation with coal.
Companies that will sign contracts with the government by June 30, 2020 to establish coal power plants will receive the tax break on income from electricity generation, according to the notification issued at that time.
Source: The Daily Star
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Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
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- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
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- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
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- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
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- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Commonwealth Bank - Australia
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- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
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- Eastern Energy - Thailand
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- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
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- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
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- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
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- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
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- Parliament of New Zealand
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- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
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