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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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Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
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- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
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