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Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five years until June 2025 to allow electricity generation at lower costs, according to a notification issued on Tuesday.
The exemption is being offered at a time when three coal-fired power plants are being established in the public sector and one in Payara in the southern district of Patuakhali is likely to start producing around 660 megawatts of electricity next month.
Apart from this, four private sector coal-based power plants are in the process of being established, according to the minutes of a meeting between the NBR and Power Division in August this year.
A huge amount of coal would be required once these power plants go into operation.
The NBR said there were no customs and other duty for coal import.
After the VAT cut to 5 percent, a 5 percent advance tax and 5 percent advance income tax will still be applicable for private sector power plants.
Public sector power plants will need to pay only the 5 percent VAT to import coal, said an NBR official requesting anonymity.
As coal accounts for nearly 65 percent of the electricity production cost, a reduction in the VAT rate will bring down the cost of generation, said the meeting minutes.
Considering the issue, the NBR has decided to slash the VAT on coal import to help reduce the production cost, another NBR official had said earlier.
In its Tuesday’s notification, the tax administrator attached conditions for coal power plants to import coal.
Power producers will have to submit recommendation letters from Power Division to customs stations during release of coal.
Importers will also need to furnish a bill of entry, it said. A bill of entry is an account of goods entered at a customhouse, of imports and exports, detailing the merchant, quantity of goods, their type, and place of origin or destination.
The tax authority earlier provided duty benefit for the import of furnace oil, which is used in electricity generation, and liquefied natural gas.
The NBR in July 2013 offered a 15-year tax waiver for electricity generation with coal.
Companies that will sign contracts with the government by June 30, 2020 to establish coal power plants will receive the tax break on income from electricity generation, according to the notification issued at that time.
Source: The Daily Star
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
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