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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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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
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