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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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Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
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- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
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