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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, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Australian Coal Association
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
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