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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 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- PTC India Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
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