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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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Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
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