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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, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
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