Second National Reconcilation Study EITI Peru - unofficial…

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Consultoría para la Elaboración del Segundo Estudio Nacional de Conciliación de la Iniciativa de Transparencia para las Industrias Extractivas (ITIE) en el Perú (2008 – 2010) (continuación) Recommendations The recommendations presented in this report are aimed at improving the process of compiling future Reconciliation Studies. Emphasis can be placed on the following. • INGEMMET should consider implementing a monitoring procedure and information sharing with the General Directorate of Mining of the Ministry of Energy and Mines with regard to ownership of mining denouncements. This is for the purpose of managing validity rights. • In order to standardise the data requested, in future studies the Working Committee should require the public institutions to use the tools provided by the Reconciler in order to be able to conduct the Reconciliation more efficiently. • The Working Committee should distribute and channel the information more effectively to the following key personnel within the companies so that they may submit the appropriate information required for the Reconciliation Study: - Director of Legal or Regulatory Affairs - Financial Director - General Accountant - Head of Taxes • The Committee should promote the disaggregated presentation (breakdown) by company of the figures representing the types of payments relevant to this Study. • In future Reconciliation Studies, in addition to the net totals, the volumes of the resources which generate those totals should be considered. This will result in EITI requirements being met more effectively and alignment with EITI practices in countries which are already members of the Initiative. Consultoría para la Comisión Multisectorial Permanente de la ITIE Perú 14
Consultoría para la Elaboración del Segundo Estudio Nacional de Conciliación de la Iniciativa de Transparencia para las Industrias Extractivas (ITIE) en el Perú (2008 – 2010) (continuación) Product 3: Final Report I. Aim The purpose of the Second EITI-Peru National Reconciliation Study (hereafter called the 'Study') was to conduct an independent review and analysis of the payments made to the Peruvian Government by certain mining, oil and gas companies, participating voluntarily in this study, which operate on Peruvian national territory. The study also covers the revenues that various government entities received from these extractive industry companies and also the distribution of such at central, regional and local level during the period 2008 - 2010, in compliance with tax and non-tax obligations applicable under the regulations in force in the country. In addition, as part of the Study, background information is included on the payment generation process and receipt of revenues from the extractive industries, and on the process involved in distributing the revenues to the various sectors of government and use of those revenues. This information includes: explanations of the process used to calculate income tax; payment methods and mechanisms; frequency of company payments and transfers effected to the various levels of government, etc. As such, the EITI Peru Multi-Sector Permanent Committee (hereafter called the 'Working Committee' or 'Committee') decided that the following. 1) The outcomes of the Study must reflect the value of the payments made by the extractive industry companies signed up to the Initiative. Such payments are in the form of income tax, royalties and validity rights which meet the materiality threshold set by this Second Study, just as in the first EITI Study conducted in 2009. 2) The outcomes of this Study must reflect the participation of the companies from the below-named subsectors which: (a) represent a share of no less than 75% of the net annual total for national mining production (b) represent a share of no less than 85% of the net annual total for national hydrocarbons production. As such, and in line with the specific objectives established, the Second National Reconciliation Study aimed to reflect the share of material participation on the part of the extractive industry companies signed up to EITI in Peru in generating resources which are channelled by the central government, through tax and non-tax revenues originating from the mining and hydrocarbons subsectors, and subsequently distributed to regional and local governments. Consultoría para la Comisión Multisectorial Permanente de la ITIE Perú 15
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