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Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
 The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on mineral ores and coal, saying that the measure would severely hurt their businesses because they already pay high income tax rates.
The executive director of the Indonesian Mining Association (IMA), Syahrir Abubakar, said in Jakarta on Thursday that the government should be aware that under their contracts of work, miners paid a corporate income rate of between 35 and 45 percent, which was higher than the 25 percent imposed on other companies.
“Some of them pay between 35 percent and 45 percent even though the 2008 Income Tax Law regulates that the tax is only 25 percent,” he told reporters on the sidelines of the launch of the Mining & Engineering Indonesian Exhibition in Jakarta on Thursday.
If the government insists on applying the export tax, it should also declare that all companies pay tax according to prevailing laws, and not based on their contracts, he said. Currently, contracts of work in the country use the principle of “nail down” in which the taxes paid by miners follow the regulations in force when the contracts were signed, he explained.
“It’s no problem if the government wants to increase its revenue by applying new taxes, but it has to ensure that all the companies are on the same level playing field and are getting the same treatment. If not, this will kill the companies,” Syahrir said.
The government has the power to call all contract holders and inform them that it will apply the prevailing laws in tax payment and therefore the conditions in the contracts have to be renegotiated, he said.
“There’s nothing wrong with the government’s desire to boost tax revenue, but it has to do it in a way that doesn’t endanger the miners,” he said.
He said the government had never invited mining companies to discuss the plan.
Supriatna Suhala, the executive director of the Indonesian Coal Mining Association (APBI), agreed with Syahrir that equal treatment for all miners was necessary. However, he warned that implementing the plan would be difficult if not impossible.
“If the government insists, we have to revise the content of the 2009 Minerals and Coal Law. Our contracts with the government must also be renewed. What we need is equal treatment. Now, companies pay taxes and royalties in different amounts,” he said over the phone.
“In my opinion, this plan will do more harm than good.”
The discourse over the export tax first began following Industry Minister MS Hidayat’s statement that the policy was aimed at preventing companies overexploiting the county’s mineral resources and selling it in ore form without thinking about the future of the nation’s reserves.
The planned tax will supplement the government’s decision to ban mineral ore exports in 2014, which is mandated by the 2009 Minerals and Coal Law and a 2012 ministerial regulation.
When asked about the export duty, the Energy and Mineral Resources Ministry’s director general for minerals and coal, Thamrin Sihite, declined to comment.
Source: The Jakarta Post
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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
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