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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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Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
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- Heidelberg Cement - Germany
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- Goldman Sachs - Singapore
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- Medco Energi Mining Internasional
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- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
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- Ambuja Cements Ltd - India
- Central Electricity Authority - India
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- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
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- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Georgia Ports Authority, United States
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- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
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- London Commodity Brokers - England
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- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
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- Wilmar Investment Holdings
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- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
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- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- The Treasury - Australian Government
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
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- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- PTC India Limited - India
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- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
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