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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, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Australian Coal Association
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- The University of Queensland
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
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