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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- MS Steel International - UAE
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
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