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Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
 The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on mineral ores and coal, saying that the measure would severely hurt their businesses because they already pay high income tax rates.
The executive director of the Indonesian Mining Association (IMA), Syahrir Abubakar, said in Jakarta on Thursday that the government should be aware that under their contracts of work, miners paid a corporate income rate of between 35 and 45 percent, which was higher than the 25 percent imposed on other companies.
“Some of them pay between 35 percent and 45 percent even though the 2008 Income Tax Law regulates that the tax is only 25 percent,” he told reporters on the sidelines of the launch of the Mining & Engineering Indonesian Exhibition in Jakarta on Thursday.
If the government insists on applying the export tax, it should also declare that all companies pay tax according to prevailing laws, and not based on their contracts, he said. Currently, contracts of work in the country use the principle of “nail down” in which the taxes paid by miners follow the regulations in force when the contracts were signed, he explained.
“It’s no problem if the government wants to increase its revenue by applying new taxes, but it has to ensure that all the companies are on the same level playing field and are getting the same treatment. If not, this will kill the companies,” Syahrir said.
The government has the power to call all contract holders and inform them that it will apply the prevailing laws in tax payment and therefore the conditions in the contracts have to be renegotiated, he said.
“There’s nothing wrong with the government’s desire to boost tax revenue, but it has to do it in a way that doesn’t endanger the miners,” he said.
He said the government had never invited mining companies to discuss the plan.
Supriatna Suhala, the executive director of the Indonesian Coal Mining Association (APBI), agreed with Syahrir that equal treatment for all miners was necessary. However, he warned that implementing the plan would be difficult if not impossible.
“If the government insists, we have to revise the content of the 2009 Minerals and Coal Law. Our contracts with the government must also be renewed. What we need is equal treatment. Now, companies pay taxes and royalties in different amounts,” he said over the phone.
“In my opinion, this plan will do more harm than good.”
The discourse over the export tax first began following Industry Minister MS Hidayat’s statement that the policy was aimed at preventing companies overexploiting the county’s mineral resources and selling it in ore form without thinking about the future of the nation’s reserves.
The planned tax will supplement the government’s decision to ban mineral ore exports in 2014, which is mandated by the 2009 Minerals and Coal Law and a 2012 ministerial regulation.
When asked about the export duty, the Energy and Mineral Resources Ministry’s director general for minerals and coal, Thamrin Sihite, declined to comment.
Source: The Jakarta Post
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Coal and Oil Company - UAE
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Australian Coal Association
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
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