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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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Tuesday, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
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Tuesday, 14 January 20
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Tuesday, 14 January 20
DRY BULK MARKET: "THIS IS NOT THE END OF COAL" SAYS IEA - BALTIC EXCHANGE
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Saturday, 11 January 20
ARE YOU 95% CONFIDENT THAT YOUR VERY LOW SULPHUR FUEL IS ON SPEC AND MARPOL COMPLIANT? - GARD
KNOWLEDGE TO ELEVATE
Bunker fuel is a commodity and, like all commodities, is produced and sold according to specifications. Bunkers are usual ...
Saturday, 11 January 20
NEW PRICING COULD SPELL TROUBLE FOR CHINA'S COAL SECTOR - CHINA DIALOGUE
Benchmark coal tariffs have been the foundation of China’s electricity pricing since 2004 but this mechanism was replaced on January 1 with a ...
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- Georgia Ports Authority, United States
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- Economic Council, Georgia
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- Electricity Authority, New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
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- Price Waterhouse Coopers - Russia
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- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
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- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
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- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
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- Baramulti Group, Indonesia
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- PowerSource Philippines DevCo
- PTC India Limited - India
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- Antam Resourcindo - Indonesia
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- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Planning Commission, India
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- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
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- Ambuja Cements Ltd - India
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- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
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- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
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- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
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- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
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