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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
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