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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- The University of Queensland
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
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