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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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Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
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- Sree Jayajothi Cements Limited - India
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- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
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- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
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- Global Green Power PLC Corporation, Philippines
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- Coal and Oil Company - UAE
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- PTC India Limited - India
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- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
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- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
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- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
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- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
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- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
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- Intertek Mineral Services - Indonesia
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