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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, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- The University of Queensland
- Georgia Ports Authority, United States
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
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- AsiaOL BioFuels Corp., Philippines
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- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
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- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Bhatia International Limited - India
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- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
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- Gujarat Mineral Development Corp Ltd - India
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- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
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- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
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- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
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