Second National Reconcilation Study EITI Peru - unofficial…

Consultancy for the Second National Reconciliation Study of the Extractive
Industries Transparency Initiative (EITI) in Peru (2008 – 2010) (Continuation)
VIII. Findings and final recommendations on the EITI-Peru Second National Reconciliation Study
The findings of this second Study pertain to the objectives thereof, i.e. perform an independent analysis
and contrasting review between the payments made to the Peruvian government by certain mining, oil
and gas companies (voluntarily participating in this Study) operating in national territory, the revenues
that various entities of the Peruvian government have received from such companies, and the distribution
of these revenues on central, regional and local level during the 2008-2010 period , in compliance with the
tax and non-tax obligations set forth in Peruvian applicable legislation.
Furthermore, these recommendations aims at improving the collection and distribution reconciling process
addressed in present
Study. This Study has not included an analysis of the collection and distribution processes implemented
by the companies and by public entities.
.
VIII.1 Findings
VIII.1.1 Findings of the Reconciliation Study of payments made to the Peruvian government by
the companies signed up to this Study and revenues received by government entities from
such entities.
► In reconciling the Income Tax, we found no differences between payments reported by the
companies and revenue collected as reported by SUNAT.
► In reconciling the Mining Royalties, we found minor differences in the years 2008, 2009 and
2010, which account for 0.009% of reconciled total in this sub-area and less than 0.001% of the
reconciled total in this Study.
► In reconciling the Hydrocarbon Royalties, we found minor differences in the years 2008,
2009 and 2010, which account for 0,001% of reconciled total in this sub-area and less than
0.001% of reconciled total in this Study.
► In reconciling Validity Rights, we found differences pertaining mainly to payment reports of
mining claims by companies who are not the owners thereof. Furthermore, we identified mining
claims owned by companies signed up to the Study, according to which validity rights would
have been paid by third parties. On the other hand, the differences also arise from the average
exchange rates used to convert reported amounts to Peruvian new soles for reconciling
purposes. The total net differences account for 3.939% of the total reconciled amounts in this
sub-area and for less than 0.009 % of reconciled total in this Study
Consultancy for the EITI Peru Multi-Sector Permanent Working Committee
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