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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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- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Australian Coal Association
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
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