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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- MS Steel International - UAE
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
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