EU - Reminder of country-by-country reporting by extractive, logging sectors 

August 16: An EU directive affects all EU listed and large private companies operating (directly or through controlled undertaking) in the extraction of minerals, oil and gas or in logging of primary forests—the directive requires disclosure of payments to governments (1) by type of payment and (2) by project.

The EU directive is expected to pose significant implementation challenges to companies involved in the energy and natural resources sector.


EU Member States must issue laws to enforce the directive’ application from 2016 at the latest (but initial application of the directive may be expected earlier than 2016 in several EU countries).


Read TaxNewsFlash-Europe: EU - Country-by-country reporting by financial, extractive, and logging sectors (26 June 2013)


Read an August 2013 report [PDF 144 KB] prepared by KPMG’s Global Energy Institute: EU Directive regarding disclosure of payments to governments



For more information, contact a tax professional with KPMG’s EU Tax Centre:


Barry Larking




©2013 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

Share this

Share this

Subscribe

Current and future KPMG clients may subscribe to TaxNewsFlash email alerts.


Email your contact information.

Other TaxNewsFlash publications

TaxNewsFlash-United States by year