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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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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
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