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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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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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