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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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Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- Star Paper Mills Limited - India
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- Coal and Oil Company - UAE
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- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
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- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
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- PTC India Limited - India
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- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
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- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
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- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
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- Australian Coal Association
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- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
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- Global Business Power Corporation, Philippines
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- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
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- PetroVietnam Power Coal Import and Supply Company
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- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
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- Indonesian Coal Mining Association
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- Bangladesh Power Developement Board
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- The State Trading Corporation of India Ltd
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- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
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- Marubeni Corporation - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
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- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
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- Oldendorff Carriers - Singapore
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- European Bulk Services B.V. - Netherlands
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- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
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