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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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Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
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- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- White Energy Company Limited
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
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