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)
VI.1. Income Tax
For purposes of reconciling Income Tax collected, a universe of 40 companies is considered: 14
hydrocarbon companies in operation stage and 26 mining companies in operation stage, all having
signed up to the EITI Initiative. Out of the 51 companies signed up to the Study, 10 companies
were in the prospecting stage during the 2008-2010 period and, since they generated no income,
they have no income tax to report or pay. Such companies in prospecting stage are:
1. Ecopetrol del Perú S.A.
2. Pacific Stratus Energy S.A., Peru Division
3. Perenco Perú Limited, Peru Division
4. Talisman Perú B.V., Peru Division
5. Anglo American Michiquillay S.A.
6. Anglo American Quellaveco S.A.
7. Anglo American Exploration Perú S.A
8. Anglo American Perú S.A.
9. Lumina Copper S.A.C.
10. Río Tinto Minera Perú Limitada S.A.C.
Reconciling consists in comparing the reported Income Tax amounts provided by the signed-up
mining and hydrocarbon companies to the Income Tax amounts provided by SUNAT. The Income
Tax amount accrued during the financial year (amount serving as the basis for the canon
distribution process) pertains to the amount calculated for Income Tax, plus the amount for
payments on account credited against ITAN, as defined and stated by each company in boxes Nr.
504 and 126 respectively. This does not apply to the companies having more than one economic
administrative unit, in which case amounts reported in the mining or hydrocarbon attachments to
the tax returns filed by each company to SUNAT are considered.
Income tax amounts were reconciled taking the original reporting currency into account, so the
amounts are shown either in Peruvian New Soles or in U.S. dollars according to the reporting
currency of each company.
Consultancy for the EITI Peru Multi-Sector Working Committee
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