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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, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
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- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Xindia Steels Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
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