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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
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