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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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Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
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