We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
|
|
|
Showing 81 to 85 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
|
| |
| |
|
