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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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- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
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