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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Planning Commission, India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
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