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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Australian Coal Association
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
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