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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
 The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mining companies amid indications of potential legal violations in calculating their tax payments.
Tax office spokesman Dedi Rudaedi said in a press release sent to The Jakarta Post on Tuesday that more tax supervisors who understood the technical aspects of coal mining would be assigned to ensure that there were no legal violations in calculating the companies’ tax burden.
Dedi added that the technical ministry overseeing coal mining companies, the Energy and Mineral Resources Ministry, had the expertise to determine production, cost recovery and operational costs of coal miners.
It was also important to improve the exchange of information between the tax office and the Energy and Mineral Resources Ministry, as mandated by the 2009 Taxation, he added.
“With that effort, the tax office can examine and ensure that the information contained in the tax forms submitted by taxpayers in the coal mining sector is true,” Rudi said.
Deputy Energy and Mineral Resources Minister Widjajono Partowidagdo said that calculating operational costs in the coal mining sector was not as transparent a process as it was in the oil and gas sector.
“In coal, miners calculate operational costs by themselves, while in the oil and gas sector, the amount of the costs must be approved by [upstream oil and gas regulator] BPMigas,” he said.
Widjajono said that a coal and mineral mining company’s revenues were comprised of operational costs, the government’s share and the company’s share.
The higher the costs, the smaller the returns to the government would be, he added.
Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu told the Post that all costs and expenditures reported to the tax office and the Energy and Mineral Resources Ministry were audited first so there was only a very small possibility for a coal miner to balloon their operational cost figures.
“We have a tax officer supervising each coal company. Our financial statements must also be audited by public auditors. We are also audited by the Development Finance Comptroller [BPKP],” he said.
Bob said that the operational costs of coal miners usually came from subcontractors who charged them for each project undertaken.
Coal mining companies checked the validity of prices listed on invoices submitted by subcontractors before approving them, Bob added.
“However, we will fully support it if the government wants to improve its supervision of coal mining companies to check whether there is something wrong,” Bob said.
Indonesia’s coal production is estimated to reach 370 million tons in 2011, with 65 million tons allocated for the domestic market.
The Energy and Mineral Resources Ministry previously said it expected investment in the mineral and coal mining sector to reach US$3.2 billion this year, a slight increase from last year’s figure of $3.18 billion.
Source: The Jakarta Post (By Rangga D. Fadillah)
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- The University of Queensland
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- Mjunction Services Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
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