Heads Up Extractive Sector Companies: A Deadline is Approaching!
March 24, 2017 at 11:06 AM
Did you know that the Extractive Sector Transparency Measures Act (ESTMA) sets out mandatory reporting measures for the extractive industry?
Publicly traded extractive sector companies, and private companies of a certain size with activities in Canada, must disclose their reportable payments.
Businesses that meet the requirements must report for financial years starting after June 1, 2015, and submit their information to Natural Resources Canada within 150 days of the end of a company’s fiscal year. Their reports must also be made publicly available online for a minimum of five years after submission.
To help companies determine their obligations under ESTMA, Natural Resources Canada has posted detailed information on their website.