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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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- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
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- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
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- Minerals Council of Australia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
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- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
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- IEA Clean Coal Centre - UK
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- Planning Commission, India
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- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
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- TNB Fuel Sdn Bhd - Malaysia
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- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
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- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
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- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
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- India Bulls Power Limited - India
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- Africa Commodities Group - South Africa
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- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- PNOC Exploration Corporation - Philippines
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- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Australian Coal Association
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
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