Extractive Industries Transparency Initiative
An explanation of the EITI and UK implementation of it are given here. The material below, which relates to extraction of mining and quarrying as well as to extraction of oil and gas, and updates to it will in due course be found here.
Companies (or groups of companies) undertaking extractive activities in the UK are requested to return completed waivers and templates to accountancy firm Moore Stephens, the Independent Administrator appointed by the UK EITI Multi-Stakeholder Group.
The templates allow companies to report in-scope payments they made to government agencies during calendar year 2015 where those payments for any individual revenue stream are material i.e. in excess of a total of £86,000 per revenue stream.
For oil and gas companies the in-scope payment streams for 2015 are:
- Ring Fence Corporation Tax and Supplementary Charge
- Petroleum Revenue Tax
- Petroleum Licence Fees
- The OGA Levy
- Payments to The Crown Estate relating to UK extractive industries
For mining and quarrying companies the in-scope payment streams for 2015 are:
- Corporation Tax
- Payments to the Coal Authority
- Payments to The Crown Estate relating to UK extractive activities
- Payments under section 106 of the Town and Country Planning Act 1990 and equivalent legislation
Companies are also asked to provide information relating to individuals that have a material influence on the company through their shareholding in the company, including individuals with political influence. Here is a guide on.
This page is maintained by the Oil and Gas Authority (OGA). The OGA contact for further information is:
4th Floor, 21 Bloomsbury Street
Tel: 0300 067 1604 / 07785 692644