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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, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
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