We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
 The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan to tax the export of minerals and base metals starting next year.
Economists say such an initiative is a testament to the government’s long-term economic vision, in which local manufacturers are encouraged to add value to commodities, as well as contributing to national energy security.
For local miners, on the other hand, the upcoming export tax would be an additional burden that could affect their financial performance amid global economic uncertainties that could jeopardize future expansion plans.
Arif Hadianto, a spokesperson for Indonesia’s fifth largest coal miner, PT Berau Coal Energy, said coal producers already paid 13.5 percent of their total sales as royalties to the government, on top of the income and value-added taxes.
“A new tax would automatically be a burden. The government must take into account that coal producers have an obligation to meet domestic demand,” Arif said on Sunday.
Separately, Resource Alam Indonesia head of investor relations Erif Tirtana said small- and medium-sized companies would be hurt most by the tax plan. “The export tax will be a double tax, as we are already paying royalties. I just hope that the ministry will consider our grievances,” he said.
PT Antam corporate secretary Bimo Budi Satriyo said that the export tax would reduce his company’s profits. Bimo said that Antam, which exports nickel to China, Korea, and Europe, had to give 5 percent off its sales prices per ton of high calorie (garnierite) nickel ore and 4 percent for every ton of low-calorie (limonite) nickel ore in royalty fees.
“We still don’t know what the regulation will look like. As long as the government considers the royalty we are already paying. It will be okay.”
Association of Indonesian Mining Professional chairman Irwandi Arif said that the government should calculate the amount of export tax to help companies maintain their profits. He said, the tax should be re-distributed to develop industry in the country.
“The export tax should be used to provide incentives in development of coal-powered power plants, for example, in Mulut Tambang [in Tanjung Enim, South Sumatra]. It would be troublesome if the government fails to synchronize the use of the tax,” Irwandi said.
The tax plan was first introduced last week by Industry Minister Mohamad S. Hidayat, who said that the ministry was preparing the export tax on mineral products to encourage the development of derivatives products from minerals and base metals by local industries.
Hidayat said the regulation was poised to be implemented in the first half of 2012, pending approval from the Finance Ministry.
“The growth of the downstream industry will create jobs, add value to our products and reduce dependence on imports,” said Hidayat. He promised that investors who invested in downstream industries would be given tax holidays.
The planned export tax is in line with the ongoing process carried out by the Energy and Mineral Resources Ministry, which is drafting a regulation that will ban exports of raw mining products beginning in 2014. Prohibiting exports of raw mining product is a part of the government’s commitment to fully implement the 2009 Mineral and Coal Law, requiring miners to process coal and mineral into added-value products before exporting them.
Mining expert Kurtubi said that the government’s move to impose export taxes on non-renewable coal and base metals was “logical” as other commodity-based industries were already paying more.
“State revenue from coal and general mining is very little. Corporate tax for general mining sector is about 35 to 40 percent, while the royalty as stated in the contract of work is only about 1 percent.”
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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 mi ...
|
|
|
Showing 4976 to 4980 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
|
| |
| |
|
