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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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Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
Thursday, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
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- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Makarim & Taira - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Marubeni Corporation - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
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