[ParlTrack]

Shadow reports (1)

2016/11/22
Committee: JURI
Dossiers: 2011/0307(COD)
Documents: PDF(437 KB) DOC(599 KB)

Amendments (4)

Proposal for a directive
Recital 7

(7) In order to provide for enhanced transparency of payments made to governments, issuers whose securities are admitted to trading on a regulated market ~~and which have activities in the extractive or logging of primary forest industries~~ should disclose in a ~~separate~~ report on an annual basis payments made to governments in the countries in which they operate. The report should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and provide civil society with information to hold governments of resource-rich countries to account for their receipts from the exploitation of natural resources. 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 and certain contextual information. The disclosure of these data is aimed at enabling investors to make better-informed decisions, improving corporate governance and accountability and contributing to the containment of tax evasion. The detailed requirements are defined in Chapter 9 of Directive 2011/../EU of the European Parliament and of the Council.

2012/05/09
Committee: JURI

Gerald HÄFNER

Proposal for a directive
Recital 7 a (new)

(7a) For issuers active in the extractive or logging of primary forest industries the report on payments to governments should include more detailed information provided the payments are material to the recipient government as defined in Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council1. The reports should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and provide civil society with information to hold governments of resource-rich countries to account for their receipts from the exploitation of natural resources. The initiative is also complementary to the EU FLEGT Action Plan (Forest Law Enforcement, Governance and Trade)2 and the Timber Regulation3 which require traders of timber products to exercise due diligence in order to prevent illegal wood from entering into the EU market. ______________ 1 OJ L, , p.. 2 http://eur- lex.europa.eu/LexUriServ/LexUriServ.do? uri=OJ:L:2005:347:0001:0006:EN:PDF 3 Regulation (EU) No 995/2010 of the European Parliament and of the Council of 20 October 2010 laying down the obligations of operators who place timber and timber products on the market (OJ L 295, 12.11.2010, p. 23). Companies that import wood products under EU voluntary agreements will be exempt from this requirement.

2012/05/09
Committee: JURI

Gerald HÄFNER

Proposal for a directive
Article 1 – point 5

Directive 2004/109/EC
Article 6

Member States shall require all issuers ~~active in the extractive or logging of primary forest industries, as defined in […] to prepare, in accordance with~~to disclose, as part of the annual financial report and in accordance with Article 6a of this Directive and Chapter 9 of Directive 2011/.../EU of the European Parliament and of the Council, ~~a report on~~ payments made to governments ~~on an annual basis. The report shall be made public at the latest six months after the end of each financial year and shall remain publicly available for at least five year~~and certain contextual information on an annual basis. Payments to governments shall be reported at consolidated level.

2012/05/09
Committee: JURI

Gerald HÄFNER

Proposal for a directive
Article 1 – point 5 a (new)

Directive 2004/109/EC
Article 6 a (new)

(5a) The following Article is inserted: 'Article 6a Principles for reporting on payments to governments For the purposes of transparency and investor protection, Member States shall require the following principles to apply to reporting on payments to governments: (a) integrated reporting: the report on payments to governments and certain contextual information shall form part of the annual financial report, be audited and be in an easily accessible and comparable format; the contextual information shall include net turnover, production volumes, production cost, employee count, total cash cost of operations, fixed production assets and net profit and loss before tax; (b) project-by-project reporting for issuers active in the extractive or logging of primary forest industries: reporting on payments to governments in these industries shall be done on a project-by- project basis; project shall be defined as equivalent to the contract, licence, lease, concession or other legal agreement which gives rise to a company's tax and revenue liabilities in each country where it operates; where any payment liabilities are incurred on a different basis than such legal agreements, reporting shall be on that basis; (c) materiality: disclosure on a project-by- project basis shall only be required where the total annual payments attributed to a specific project exceed EUR 100 000; (d) universality: all issuers shall be subject to the reporting requirements; no exemptions, for instance for certain countries in which issuers are active, shall be made; (e) comprehensiveness: all relevant payments and revenues paid to governments shall be reported, including payments in kind, operating costs and payments to significant suppliers of services, including payments for the state provision of services; (f) comparability: the reporting on all payments to governments shall be such as to allow data in respect of different countries to be compared easily.'.

2012/05/09
Committee: JURI

Activities of Gerald HÄFNER related to 2011/0307(COD)

Shadow reports (1)

Amendments (4)

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