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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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Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
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