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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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Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
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