22 Amendments of Sirpa PIETIKÄINEN related to 2011/0308(COD)
Amendment 35 #
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 basishould disclose in annual reports material payments made to governments in the countries in which they operate. SuchIn the case of undertakings are active in countries rich in natural resourcextractive or fores,t in particular minerals, oil, natural gas as well as primary forests. The reportdustries, disclosures should include types of payments comparable to those disclosed by an undertaking participating inunder 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.’ and should be on a country-by-country and project- by-project basis.
Amendment 42 #
Proposal for a directive
Recital 33
Recital 33
(33) The reports should serve to facilitate governments of resource-rich countries in implementing the EITI Principles and Criteria and account to their citizens for payments such governments receive from undertakings active in the extractive industry or loggers of primary forests operating within their jurisdiction. The report should incorporate disclosures on a country and 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 projectmeans a contract, licence, lease or other legal agreement under which an issuer operates, and which gives rise to specific revenue liabilities. 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 criteria on materiality could be envisaged such as 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. The reporting regime should be subject to a review and a report by the Commission within five 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 payment information such as effective tax rates and recipient details, such as bank account information.
Amendment 47 #
Proposal for a directive
Recital 35
Recital 35
(35) In order to take account of future changes to the laws of the Member States and in the legislation of the Union concerning company types, the Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty in respect of updating the lists of undertakings contained in Annexes I and II. The use of delegated acts is also necessary to adapt the undertaking size criteria, as with the passage of time inflation will erode their real value. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. In order to ensure a relevant and appropriate level of disclosure of payments to governments by the extractive industry and loggers of primary forests and to ensure uniform application of this Directive, the Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty in respect of the specification of the concept of materiality of payments.
Amendment 65 #
Proposal for a directive
Article 24 – paragraph 1
Article 24 – paragraph 1
1. Small groups shall be exemptMember States may provide for an exemption for small groups from the obligation to draw up consolidated financial statements and a consolidated management report, except where any affiliated undertaking is a public interest entity.
Amendment 66 #
Proposal for a directive
Article 24 – paragraph 2
Article 24 – paragraph 2
Amendment 69 #
Proposal for a directive
Article 34 – paragraph 1 – subparagraph 1
Article 34 – paragraph 1 – subparagraph 1
Member States shall ensure that the financial statements of public interest entities, small, medium-sized and large undertakings are audited by one or more persons approved by Member States to carry out statutory audits on the basis of Directive 2006/43/EC of the European Parliament and of the Council. A Member State may exempt some or all small undertakings from this requirement.
Amendment 84 #
Proposal for a directive
Article 36 – paragraph 1 – point 4
Article 36 – paragraph 1 – point 4
4. ‘Project’ is equivalent to a specific operational reporting unit at contract, licence, lease or other lowest level within the undertaking at which regular internal management reports are prepared to monitor its businessegal agreement under which an undertaking operates, and from which its specific revenue liabilities arise.
Amendment 91 #
Proposal for a directive
Article 37 – paragraph 1
Article 37 – paragraph 1
1. Member States shall require largeall undertakings and all public interest entities active in the extractive industry or the logging of primary forests to prepareto prepare, have audited and make public a report on payments made to governments oin antheir annual basireports.
Amendment 96 #
Proposal for a directive
Article 37 – paragraph 1 a (new)
Article 37 – paragraph 1 a (new)
1a. For issuers engaged in activities related to extractive or forest industries, disclosures should include types of payments comparable to those disclosed under the Extractive Industries Transparency Initiative (EITI) and should be on a country-by-country and project-by-project basis;
Amendment 101 #
Proposal for a directive
Article 38 – paragraph 1 – point a
Article 38 – paragraph 1 – point a
(a) the total amount of payments exceeding EUR 20 000, including payments in kind, made to each government within a financial year;
Amendment 103 #
Proposal for a directive
Article 38 – paragraph 1 – point b
Article 38 – paragraph 1 – point b
(b) the total amount per type of payment exceeding EUR 20 000, including payments in kind, made to each government within a financial year;
Amendment 111 #
Proposal for a directive
Article 38 – paragraph 1 – point c a (new)
Article 38 – paragraph 1 – point c a (new)
(ca) the following: - name, turnover and assets (including third party and intragroup) of the constituent entities of the undertaking that might give rise to payments, - quantities produced, - sales, - profit before tax, - total number of people employed and their aggregate remuneration and, - expenditure on fixed asset investment during the course of the reporting period.
Amendment 130 #
Proposal for a directive
Article 38 – paragraph 2 – point b
Article 38 – paragraph 2 – point b
(b) taxes on profits and the effective tax rate applied;
Amendment 136 #
Proposal for a directive
Article 38 – paragraph 2 – point c
Article 38 – paragraph 2 – point c
(c) royalties and the effective tax rate applied;
Amendment 150 #
Proposal for a directive
Article 38 – paragraph 3
Article 38 – paragraph 3
3. Where payments in kind are made to a government, they shall be reported in value orand in volume. Where they are reported in terms of value, supporting notes shall be provided to explain how their value has been determined.
Amendment 155 #
Proposal for a directive
Article 38 – paragraph 4
Article 38 – paragraph 4
Amendment 160 #
Proposal for a directive
Article 38 – paragraph 5
Article 38 – paragraph 5
Amendment 165 #
Proposal for a directive
Article 38 – paragraph 5 a (new)
Article 38 – paragraph 5 a (new)
5a. Project level reporting requirement in paragraph 1 (c), only applies to undertakings engaged in activities related to extractive or forest industries
Amendment 168 #
Proposal for a directive
Article 39 – paragraph 1
Article 39 – paragraph 1
1. A Member State shall require anyll large undertaking ors anyd public interest entity active in the extractive industry or the logging of primary forests andies 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.
Amendment 174 #
Proposal for a directive
Article 39 – paragraph 3 – introductory part
Article 39 – paragraph 3 – introductory part
3. An undertaking need not be included in a consolidated report on payments to governments where at least one of the following conditions is fulfilled:n the financial statements of the constituent entity making the payment are excluded from the consolidated financial statements for that year, but not otherwise.
Amendment 176 #
Proposal for a directive
Article 39 – paragraph 3 – point a
Article 39 – paragraph 3 – point a
Amendment 177 #
Proposal for a directive
Article 39 – paragraph 3 – point b
Article 39 – paragraph 3 – point b