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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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Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
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