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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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Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
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