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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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Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
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- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
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