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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 $3.18 billion.
Source: The Jakarta Post (By Rangga D. Fadillah)
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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Parliament of New Zealand
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