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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, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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Showing 4926 to 4930 news of total 6871 |
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- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- MS Steel International - UAE
- VISA Power Limited - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
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