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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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- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
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