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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, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
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- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- MS Steel International - UAE
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