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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, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
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