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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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Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
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Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
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