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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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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
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