We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
 The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan to tax the export of minerals and base metals starting next year.
Economists say such an initiative is a testament to the government’s long-term economic vision, in which local manufacturers are encouraged to add value to commodities, as well as contributing to national energy security.
For local miners, on the other hand, the upcoming export tax would be an additional burden that could affect their financial performance amid global economic uncertainties that could jeopardize future expansion plans.
Arif Hadianto, a spokesperson for Indonesia’s fifth largest coal miner, PT Berau Coal Energy, said coal producers already paid 13.5 percent of their total sales as royalties to the government, on top of the income and value-added taxes.
“A new tax would automatically be a burden. The government must take into account that coal producers have an obligation to meet domestic demand,” Arif said on Sunday.
Separately, Resource Alam Indonesia head of investor relations Erif Tirtana said small- and medium-sized companies would be hurt most by the tax plan. “The export tax will be a double tax, as we are already paying royalties. I just hope that the ministry will consider our grievances,” he said.
PT Antam corporate secretary Bimo Budi Satriyo said that the export tax would reduce his company’s profits. Bimo said that Antam, which exports nickel to China, Korea, and Europe, had to give 5 percent off its sales prices per ton of high calorie (garnierite) nickel ore and 4 percent for every ton of low-calorie (limonite) nickel ore in royalty fees.
“We still don’t know what the regulation will look like. As long as the government considers the royalty we are already paying. It will be okay.”
Association of Indonesian Mining Professional chairman Irwandi Arif said that the government should calculate the amount of export tax to help companies maintain their profits. He said, the tax should be re-distributed to develop industry in the country.
“The export tax should be used to provide incentives in development of coal-powered power plants, for example, in Mulut Tambang [in Tanjung Enim, South Sumatra]. It would be troublesome if the government fails to synchronize the use of the tax,” Irwandi said.
The tax plan was first introduced last week by Industry Minister Mohamad S. Hidayat, who said that the ministry was preparing the export tax on mineral products to encourage the development of derivatives products from minerals and base metals by local industries.
Hidayat said the regulation was poised to be implemented in the first half of 2012, pending approval from the Finance Ministry.
“The growth of the downstream industry will create jobs, add value to our products and reduce dependence on imports,” said Hidayat. He promised that investors who invested in downstream industries would be given tax holidays.
The planned export tax is in line with the ongoing process carried out by the Energy and Mineral Resources Ministry, which is drafting a regulation that will ban exports of raw mining products beginning in 2014. Prohibiting exports of raw mining product is a part of the government’s commitment to fully implement the 2009 Mineral and Coal Law, requiring miners to process coal and mineral into added-value products before exporting them.
Mining expert Kurtubi said that the government’s move to impose export taxes on non-renewable coal and base metals was “logical” as other commodity-based industries were already paying more.
“State revenue from coal and general mining is very little. Corporate tax for general mining sector is about 35 to 40 percent, while the royalty as stated in the contract of work is only about 1 percent.”
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
|
|
|
Showing 4851 to 4855 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
|
| |
| |
|
