Banpu eligible for $20m tax refund in Indonesia: Report
Thursday, September 14 2006 - 12:28 AM WIB
Thai energy conglomerate Banpu Plc will receive a tax refund worth around US$20 million or 750 million baht from coal exports from its mines in Indonesia, according to chief executive Chanin Vongkusolkit as quoted by Bangkok Post Thursday.
He said Banpu and other miners had filed court petitions seeking the refund under the new export tax regime imposed recently by Indonesian regulators.
The court have ruled in favour the company, making it eligible to receive a refund worth US$20 million. The refund date has not been specified yet. Banpu operates several coalmines in Indonesia.
Chanin also said coal prices had declined following the decrease in global oil prices. The spot price of coal is now at US$47 per tonne, a decrease of $5 from a few months ago, he said. (*)