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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, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
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- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- The University of Queensland
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Australian Coal Association
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
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