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Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five years until June 2025 to allow electricity generation at lower costs, according to a notification issued on Tuesday.
The exemption is being offered at a time when three coal-fired power plants are being established in the public sector and one in Payara in the southern district of Patuakhali is likely to start producing around 660 megawatts of electricity next month.
Apart from this, four private sector coal-based power plants are in the process of being established, according to the minutes of a meeting between the NBR and Power Division in August this year.
A huge amount of coal would be required once these power plants go into operation.
The NBR said there were no customs and other duty for coal import.
After the VAT cut to 5 percent, a 5 percent advance tax and 5 percent advance income tax will still be applicable for private sector power plants.
Public sector power plants will need to pay only the 5 percent VAT to import coal, said an NBR official requesting anonymity.
As coal accounts for nearly 65 percent of the electricity production cost, a reduction in the VAT rate will bring down the cost of generation, said the meeting minutes.
Considering the issue, the NBR has decided to slash the VAT on coal import to help reduce the production cost, another NBR official had said earlier.
In its Tuesday’s notification, the tax administrator attached conditions for coal power plants to import coal.
Power producers will have to submit recommendation letters from Power Division to customs stations during release of coal.
Importers will also need to furnish a bill of entry, it said. A bill of entry is an account of goods entered at a customhouse, of imports and exports, detailing the merchant, quantity of goods, their type, and place of origin or destination.
The tax authority earlier provided duty benefit for the import of furnace oil, which is used in electricity generation, and liquefied natural gas.
The NBR in July 2013 offered a 15-year tax waiver for electricity generation with coal.
Companies that will sign contracts with the government by June 30, 2020 to establish coal power plants will receive the tax break on income from electricity generation, according to the notification issued at that time.
Source: The Daily Star
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Thursday, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- The University of Queensland
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
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