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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, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
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