Naslov
Exploring the efficacy of the EU Law concerning Reports on Payments to Governments: Reflections for the EU

Autori
Blomkvist, Marita ; ... Perica, Ivana ; Rogošić, Andrijana

Kolaboracija
THE STAR COLLECTIVE SOCIAL well-being through TRANSPARENCY and ACCOUNTABILITY RESEARCH

Vrsta, podvrsta
Ostale vrste radova, elaborat/studija

Godina
2018

Ključne riječi
EU Accounting Directive, Reports on Payments to Governments, Transparency Directive

Sažetak
The EU’s requirements for country-by-country reporting of payments to governments by oil, gas and mining (extractive) and forestry companies consist of the Accounting Directive’s Chapter 10 provisions and the equivalent provisions of the Transparency Directive (collectively ‘the Directives’). The provisions require in-scope companies in the extractive and forestry sectors to publicly report details of payments they make to governments on an annual and per-country basis, including at project level. The reasoning behind the provisions was that by increasing transparency concerning substantial payments made to governments of resource-rich countries by significant corporations in the extractive and forestry sectors, these governments would become more accountable for the usage of the revenues they receive. The need for greater accountability arises from the concern to see improved socioeconomic development of these countries. Hence, the provisions could help overcome the ‘resource curse’. The provisions require that payments be broken down: into categories such as taxes, royalties, bonuses and licence and other fees as well as on a country-by-country basis and into payments made in respect of specific projects as well as entity-level payments such as corporate income tax. The Chapter 10 provisions apply to companies registered within EU Member States. The Transparency Directive provisions apply to in- scope companies from both within and outside of the EU, listed on EU-regulated stock exchanges. The study reported here follows on from an earlier study into the early transposition and implementation in the UK of the provisions of the Directives (Chatzivgeri et al., 2017).This report reflects an attempt to survey all EU Member States. This required collaboration across the EU. The UK researchers involved thus co-ordinated expansion into a larger research team, forming the collective authoring this report. Particular attention was given to analysing Reports on Payments to Governments (RPGs) published after implementation of the law. Insights from the UK specific study – which, for instance, drew attention to how the EU provisions were transposed and what interpretations of the law were possible - informed the EU-wide analysis. There was also an interest in learning more about stakeholder views as to the nature, content and usefulness of the RPGs.

Izvorni jezik
Engleski

Napomena
(ed. Chatzivgeri, E., Chew, L., Crawford, L., Gordon, M., & Haslam, J.)

POVEZANOST RADA