We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 $3.18 billion.
Source: The Jakarta Post (By Rangga D. Fadillah)
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
|
|
|
Showing 5016 to 5020 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Wilmar Investment Holdings
- PTC India Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
|
| |
| |
|
