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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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Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
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- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- PTC India Limited - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
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