Second National Reconcilation Study EITI Peru - unofficial…

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)
2.2.4. Exchange Rate
The revenues and income that the State has perceived in foreign currency, which serve as the
basis to calculate the corresponding Mining Canon, are converted into national currency at the rate
of Exchange published by the Superintendence of Banking and Insurance on the day that the
Mining Canon transfer is made.
2.2.5. Mining Canon Transfers
The PCM applies the distribution indices that the MEF has reviewed and approved to the total
Mining Canon to obtain the amount that will be allotted to local and regional governments.
Next, the PCM informs DGTP - MEF to make the corresponding disbursements in the respective
current accounts of the Banco de la Nación.
Using the corresponding deposit slips, the bank must indicate to the local and regional
governments which Mining Canon corresponds to said amounts as well as the period to which it
belongs.
MEF provides information on the procedures used to build the indices as well as the indicators and
methodology used to determine the amounts that correspond to local and regional governments on
its web page and/or through the Official Daily El Peruano once the Ministerial Resolution on the
corresponding Mining Canon has been published.
The periodicity of the mining canon transfer to local and regional governments is as follows: the
Mining Canon resources that are derived from Income Tax are transferred in a single deposit in the
month of June of the years in question one month after having received information from SUNAT.
These quotas are deposited in Banco de la Nacion accounts under the corresponding Canon’s
denomination.
Consultoría para la Comisión Multisectorial Permanente de la ITIE Perú
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