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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, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- The University of Queensland
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
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