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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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Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
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- Ministry of Transport, Egypt
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- Sakthi Sugars Limited - India
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- Salva Resources Pvt Ltd - India
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- Coal and Oil Company - UAE
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- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
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- Latin American Coal - Colombia
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- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
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- Therma Luzon, Inc, Philippines
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- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
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- IEA Clean Coal Centre - UK
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- Medco Energi Mining Internasional
- White Energy Company Limited
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Planning Commission, India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
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- Bhoruka Overseas - Indonesia
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- MS Steel International - UAE
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
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- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
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- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
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- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
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- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
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- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
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- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
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