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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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Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
Monday, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
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- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
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