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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, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
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