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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- MS Steel International - UAE
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Planning Commission, India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
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