Activities of Olle LUDVIGSSON related to 2011/0308(COD)
Plenary speeches (1)
Financial statements and related reports of certain types of undertakings - Transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market (debate)
Amendments (7)
Amendment 32 #
Proposal for a directive
Recital 32
Recital 32
(32) In order to provide for enhanced transparency of payments made to governments, large undertakings and public interest entities which are active in the extractive industry or logging of primary forests1 should disclose in a separate report on an annual basis material payments made to governments in the countries in which they operate. SuchThe report should be attached to the annual financial statement. As regards undertakings are active in countries rich in natural resources, in particular minerals, oil, natural gas as well as primary forests. T, the report should include types of payments comparable to those disclosed by an undertaking participating in the Extractive Industries Transparency Initiative (EITI). The initiative is also complementary to the EU FLEGT Action Plan (Forest Law Enforcement, Governance and Trade) and the Timber Regulation which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the EU market. __________________ 1 Defined in Directive 2009/28/EC as ‘naturally regenerated forest of native species, where there is no clearly visible indication of human activities and the ecological processes are not significantly disturbed.’
Amendment 38 #
Proposal for a directive
Recital 33
Recital 33
(33) The reports should serve to facilitate governmprovide citizents of resource-rich countries in implementing the EITI Principles and Criteria andand civil society with all information needed to efficiently hold governments to account tofor their citizens for payments such governments payments they receive from undertakings active within the extractive industry or loggers of primary forests operating within their jurisdictionir jurisdiction. As regards resource-rich countries, the reports should specifically aim to facilitate the implementation of the EITI Principles and Criteria. The report should incorporate disclosures on a country-by-country and project-by-project basis, where a project is considered as the lowest level of operational reporting unit at which the undertaking prepares regular internal management reports, such as a concession, geographical basin, etc and where payments have been attributed to such projects. In the light of the overall objective of promoting good governance in these countries, the materiality of payments to be reported should be assessed in relation to the recipient government. Various cCriteria on materiality cshould be envisaged such asset out in terms of payments of an absolute amount, or a percentage threshold (such as payments in excess of a percentage of a country’s GDP) and these can be defined through a delegated act and should be defined in detail through a delegated act. As a general point of reference, payments exceeding EUR 20 000 should normally be considered to be material. The reporting regime should be subject to a review and a report by the Commission within fivthree years of the entry into force of the Directive. The review should consider the effectiveness of the regime and take into account international developments including issues of competitiveness and energy security. The review should also take into account the experience of preparers and users of the payments information and consider whether it would be appropriate to include additional paymentfinancial information, such as effective tax ratesturnover, quantities produced, profits or losses before tax, effective tax rates and fixed asset investment, and recipient details, such as bank account information.
Amendment 90 #
Proposal for a directive
Article 37 – paragraph 1
Article 37 – paragraph 1
1. Member States shall require large undertakings and all public interest entities active in the extractive industry or the logging of primary forests to prepare and make public a report on payments made to governments on an annual basis. The report shall be attached to the annual financial statement.
Amendment 129 #
Proposal for a directive
Article 38 – paragraph 2 – point b
Article 38 – paragraph 2 – point b
(b) taxes on profits, in absolute terms and in relation to profits before tax;
Amendment 159 #
Proposal for a directive
Article 38 – paragraph 5
Article 38 – paragraph 5
Amendment 167 #
Proposal for a directive
Article 39 – paragraph 1
Article 39 – paragraph 1
1. A Member State shall require any large undertaking or any public interest entity active in the extractive industry or the logging of primary forests and governed by its national law to draw up a consolidated report on payments to governments in accordance with Articles 37 and 38 if that parent undertaking is under the obligation to prepare consolidated financial statements as laid down in Article 23(1) to 23(6) of this Directive. The report shall be attached to the annual financial statement.
Amendment 183 #
Proposal for a directive
Article 41 – paragraph 1
Article 41 – paragraph 1
The Commission shall review and report on the implementation and effectiveness of this Chapter, in particular as regards the scope of the reporting obligations and the modalities of the reporting on a project basis. The review should also take into account international developments and consider the effects on competitiveness and security of energy supply. It should be completed at the latest fivthree years after the date of entry into force of this Directive. The report shall be submitted to the European Parliament and the Council, together with a legislative proposal, if appropriate.