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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, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
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- Planning Commission, India
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- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Commonwealth Bank - Australia
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- Eastern Energy - Thailand
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- Goldman Sachs - Singapore
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- Parliament of New Zealand
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- Maharashtra Electricity Regulatory Commission - India
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- European Bulk Services B.V. - Netherlands
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- Independent Power Producers Association of India
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- Minerals Council of Australia
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- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
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- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
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- Banpu Public Company Limited - Thailand
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- CIMB Investment Bank - Malaysia
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- Romanian Commodities Exchange
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- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
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- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
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- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
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- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
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- Ministry of Mines - Canada
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- Power Finance Corporation Ltd., India
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- Directorate General of MIneral and Coal - Indonesia
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- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Indo Tambangraya Megah - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- MS Steel International - UAE
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
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- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
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- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
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- The University of Queensland
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- Meralco Power Generation, Philippines
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- Therma Luzon, Inc, Philippines
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