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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
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- Grasim Industreis Ltd - India
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- White Energy Company Limited
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- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
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- ICICI Bank Limited - India
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- Trasteel International SA, Italy
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- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
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- Indonesian Coal Mining Association
- Minerals Council of Australia
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- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
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- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
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- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
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- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
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- Petron Corporation, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
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- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
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- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
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- AsiaOL BioFuels Corp., Philippines
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- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
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- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
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- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
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- GAC Shipping (India) Pvt Ltd
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- Cement Manufacturers Association - India
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- Globalindo Alam Lestari - Indonesia
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- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
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- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
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