Second National Reconcilation Study EITI Peru - unofficial…

More documents

Recommendations

Info

Consultancy for the Second National Reconciliation Study of the Extractive Industries Transparency Initiative (EITI) in Peru (2008 – 2010) (Continuation) VII.4. Gas Canon In order to show gas canon distribution, we have separated the distribution of the gas royalty canon from Income Tax canon. VII.4.1 Gas Canon – Gas Royalty Perupetro calculates gas company royalties on a bi-monthly basis. Furthermore, Perupetro calculates the applicable canon, the sole beneficiary of which is, presently, the Department of Cusco. The canon amount calculated by Perupetro is submitted monthly by an official communication to the Decentralisation Secretariat of PCM, which distributes such amount to the local governments (district and provincial municipalities) and to the Cusco regional government using the distribution ratios determined by DGDFAS -MEF (former DGAES-MEF). Official distribution of the gas canon is made by PCM in aggregate form to the various local and/or regional (Cusco) departments, as applicable. However, the information provided by Perupetro allows identifying the amounts distributed by company on a departmental level only, with no specification as to the government to which the canon is to be distributed Therefore, we performed recalculations to verify the figures provided by Perupetro in its various reports, and compare these figures to the information provided by PCM. It should be noted, for purposes of this Second Study, that companies included in the in the gas canon review are part of Consorcio Camisea, for which reason Cusco is the sole beneficiary department. This is the case because, as provided in the Canon Law, companies that have started operations in departments with no specific legislation in this respect, are required to apply the gas canon distribution methodology. In other words, companies producing gas in areas where hydrocarbon laws were in place prior to Canon Law, will continue with the same methodology as the oil canon and sobrecanon (royalty surtax). To make reviewed information comparable for purposes of distribution by the companies signed up to the Second Study, we have compared the information contained in the bi-monthly and monthly reports provided by Perupetro (with proven calculations by Ernst & Young for the canon calculated) for each company and each department. Furthermore we have compared the entire information reported monthly by Perupetro to PCM, to the information PCM reports to DGTP - MEF in order to proceed with respective transfers. It should be noted that the information handled by Perupetro is denominated in US dollars and converted to Peruvian New Soles at the exchange rate applicable at the time of being reported to PCM. Amounts in domestic currency do not allow determining the distribution by company because such amounts are departmental aggregate amounts. Consultancy for the EITI Peru Multi-Sector Permanent Working Committee 130
Consultancy for the Second National Reconciliation Study of the Extractive Industries Transparency Initiative (EITI) in Peru (2008 – 2010) (Continuation) Table of reconciliation between the amount collected on royalties according to forms delivered by Perupetro and the royalties provided in its monthly royalty distribution report (period 2008 - 2010): Company Lot Currency Consultancy for the EITI Peru Multi-Sector Permanent Working Committee Royalty according to Perupetro distribution Royalty according to Collection Reconciling Differences (i) Repsol Exploration Perú, Peru Division 56 US$ 60,263,362 60,263,363 (1) Repsol Exploration Perú, Peru Division 88 US$ 108,694,860 108,694,860 - Sonatrach Perú Corporation S.A.C 56 US$ 60,263,362 60,263,363 (1) Sonatrach Perú Corporation S.A.C 88 US$ 109,009,907 109,009,907 - Total aggregated companies (v) US$ 1,184,912,878 1,184,912,768 110 Total US$ 1,523,144,369 1,523,144,261 108 The distribution made by Perupetro regarding collected gas royalty as provided in the Law, and by item detailed in the table is shown below. It should be noted that the distribution by items is not exclusively related with rates on royalty collected, but with independent calculations based on the royalty funds (as in the case of the canon). Monitoring expenses pertain to the amounts invoiced by the service provider. The share of public entities represents a percentage of the total royalty amount. The amount delivered to the Public Treasury results from the remainder of the royalty collected minus the aforementioned items. Company Lot Currency Canon 50% Monitoring Share (iii) Expenses (ii) Perupetro MEM OSINERG Public Treasury (iv) Royalty according to Perupetro distribution Repsol Exploration Perú, Peru Division 56 US$ 30,106,270 - 903,392 451,696 451,696 28,350,307 60,263,362 Repsol Exploration Perú, Peru Division 88 US$ 54,347,430 11,844 1,637,520 818,760 818,760 51,060,546 108,694,860 Sonatrach Perú Corporation S.A.C 56 US$ 30,106,270 - 903,392 451,696 451,696 28,350,307 60,263,362 Sonatrach Perú Corporation S.A.C 88 US$ 54,347,430 11,844 1,637,520 818,760 818,760 51,375,593 109,009,907 Total aggregated companies (v) US$ 591,175,903 84,095 18,040,474 9,020,237 9,020,237 557,571,931 1,184,912,878 Total US$ 760,083,303 107,783 23,122,298 11,561,149 11,561,149 716,708,684 1,523,144,369 131
Page 1 and 2:
Product 3: Final Report Second Nati
Page 3 and 4:
Lima, 13 December 2011 Mr José Lui
Page 5 and 6:
Contents Executive Summary 9 I. Aim
Page 7 and 8:
2.2.3. Establishing the distributio
Page 9 and 10:
Consultancy for the Preparation of
Page 11 and 12:
Consultoría para la Elaboración d
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Consultancy for the Second National
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80: Consultancy for the Second National
Page 111 and 112: Consultancy for the EITI Peru Multi
Page 129: Consultancy for the Second National
Page 135 and 136: 2009 Consultancy for the Second Nat
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
Page 199 and 200:
Page 201 and 202:
Page 203 and 204:
Page 205 and 206:
show all

Second National Reconcilation Study EITI Peru - unofficial…

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?