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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
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