Second National Reconcilation Study EITI Peru - unofficial…
Second National Reconcilation Study EITI Peru - unofficial…
Second National Reconcilation Study EITI Peru - unofficial…
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Consultancy for the <strong>Second</strong> <strong>National</strong> Reconciliation <strong>Study</strong> of the Extractive<br />
Industries Transparency Initiative (<strong>EITI</strong>) in <strong>Peru</strong> (2008 – 2010) (Continuation)<br />
VII.5. Validity Rights<br />
Validity Rights are distributed by INGEMMET, which is also in charge of collection thereof. INGEMMET<br />
provides detailed information on amounts distributed to each district and collected from each company.<br />
Distribution of INGEMMET collected validity rights is made on the month following collection thereof.<br />
INGEMMET provided the distribution database in Excel sheets and contains, among other data, the<br />
period to which the validity right applies and the period in which it was actually distributed. Upon<br />
identifying the amount distributed by period (for years 2008, 2009 and 2010), we proceeded to verify that<br />
the amount distributed pertains to 75% of the amount collected by INGEMMET, because under applicable<br />
legislation on Validity Right that is the rate to be distributed among the local (district) governments in the<br />
area of influence. The remaining 25% are used to cover operating expenses of INGEMMET and MEM.<br />
Amount distributed for period = 75%<br />
Amount collected in period<br />
Consultancy for the <strong>EITI</strong> <strong>Peru</strong> Multi-Sector Permanent Working Committee<br />
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