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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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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
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Friday, 10 January 20
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Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
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Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
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