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