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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, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
Thursday, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
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- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
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