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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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Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
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- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
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