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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, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
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Showing 4811 to 4815 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- The University of Queensland
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
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