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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
 The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mining companies amid indications of potential legal violations in calculating their tax payments.
Tax office spokesman Dedi Rudaedi said in a press release sent to The Jakarta Post on Tuesday that more tax supervisors who understood the technical aspects of coal mining would be assigned to ensure that there were no legal violations in calculating the companies’ tax burden.
Dedi added that the technical ministry overseeing coal mining companies, the Energy and Mineral Resources Ministry, had the expertise to determine production, cost recovery and operational costs of coal miners.
It was also important to improve the exchange of information between the tax office and the Energy and Mineral Resources Ministry, as mandated by the 2009 Taxation, he added.
“With that effort, the tax office can examine and ensure that the information contained in the tax forms submitted by taxpayers in the coal mining sector is true,” Rudi said.
Deputy Energy and Mineral Resources Minister Widjajono Partowidagdo said that calculating operational costs in the coal mining sector was not as transparent a process as it was in the oil and gas sector.
“In coal, miners calculate operational costs by themselves, while in the oil and gas sector, the amount of the costs must be approved by [upstream oil and gas regulator] BPMigas,” he said.
Widjajono said that a coal and mineral mining company’s revenues were comprised of operational costs, the government’s share and the company’s share.
The higher the costs, the smaller the returns to the government would be, he added.
Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu told the Post that all costs and expenditures reported to the tax office and the Energy and Mineral Resources Ministry were audited first so there was only a very small possibility for a coal miner to balloon their operational cost figures.
“We have a tax officer supervising each coal company. Our financial statements must also be audited by public auditors. We are also audited by the Development Finance Comptroller [BPKP],” he said.
Bob said that the operational costs of coal miners usually came from subcontractors who charged them for each project undertaken.
Coal mining companies checked the validity of prices listed on invoices submitted by subcontractors before approving them, Bob added.
“However, we will fully support it if the government wants to improve its supervision of coal mining companies to check whether there is something wrong,” Bob said.
Indonesia’s coal production is estimated to reach 370 million tons in 2011, with 65 million tons allocated for the domestic market.
The Energy and Mineral Resources Ministry previously said it expected investment in the mineral and coal mining sector to reach US$3.2 billion this year, a slight increase from last year’s figure of $3.18 billion.
Source: The Jakarta Post (By Rangga D. Fadillah)
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Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
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