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