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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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Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
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- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
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