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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
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