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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- The Treasury - Australian Government
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
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