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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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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Australian Coal Association
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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