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