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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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Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
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- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Minerals Council of Australia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Economic Council, Georgia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
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