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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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Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
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- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
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