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