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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
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