Second National Reconcilation Study EITI Peru - unofficial…

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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 82
Consultancy for the Second National Reconciliation Study of the Extractive Industries Transparency Initiative (EITI) in Peru (2008 – 2010) (Continuation) Reconciliation of the Income Tax paid by Signed-up Companies and Revenues received by SUNAT Year 2008 No. Company Currency Hydrocarbon Companies Consultancy for the EITI Peru Multi-Sector Working Committee According to SUNAT Year 2008 According to Company Difference 1 Interoil Perú S.A. S/ 24,645,474 24,645,474 - 2 Olympic Perú INC, Peru Division US$ - - - 3 Petrobras Energía Perú S.A. S/ 155,696,092 155,696,092 - 4 Repsol Exploration Perú, Peru Division S/ 870,574 870,574 - 5 Sonatrach Perú Corporation S.A.C. US$ 6,177,856 6,177,856 - Aggregate companies in New Soles (ii) S/ 219,977,877 219,977,877 - Aggregate companies in U.S. Dollars (ii) US$ 145,681,286 145,681,286 - Mining Companies TOTAL S/ 401,190,017 401,190,017 - TOTAL US$ 151,859,142 151,859,142 - 1 Compañias de Minas Buenaventura S.A.A. S/ - - - 2 Compañía minera Antamina S.A. US$ 494,080,678 494,080,678 - 3 Compañía minera Atacocha S.A.A. S/ - - - 4 Compañía minera Milpo S.A.A. S/ 48,660,669 48,660,669 - 5 Compañía minera Poderosa S.A. S/ 21,290,080 21,290,080 - 6 Compañía minera San Juan (Perú) S.A. S/ - - - 7 Consorcio Minero Horizonte S.A. S/ 59,707,232 59,707,232 - 8 Empresa Minera Los Quenuales S.A. S/ - - - 9 Minera Barrick Misquichilca S.A. US$ 295,836,915 295,836,915 - 10 Minera Pampa de Cobre S.A. S/ - - - 11 Minera Yanacocha S.R.L. US$ 206,917,474 206,917,474 - 12 Minsur S.A. S/ 447,401,856 447,401,856 - 13 Sociedad Minera Cerro Verde S.A.A. US$ 348,220,389 348,220,389 - 14 Southern Perú Copper Corporation, Peru Division S/ 1,366,513,606 1,366,513,606 - 15 Xstrata Tintaya S.A. US$ 92,494,979 92,494,979 - Aggregate companies in New Soles (iii) S/ 299,811,546 299,811,546 - Aggregate companies in U.S. Dollars (iii) US$ - - - TOTAL S/ 2,243,384,989 2,243,384,989 - TOTAL US$ 1,437,550,435 1,437,550,435 - 83
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Product 3: Final Report Second Nati
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Lima, 13 December 2011 Mr José Lui
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Contents Executive Summary 9 I. Aim
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