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

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