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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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Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
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- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
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- Ministry of Finance - Indonesia
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- Central Electricity Authority - India
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- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
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- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
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- Global Green Power PLC Corporation, Philippines
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- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
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- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
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- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
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- PTC India Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- The University of Queensland
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Posco Energy - South Korea
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