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ARTICLE · 22 MAY 2018

ESTMA: 2018 Reporting Updates

Borden Ladner Gervais LLP
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The Extractive Sector Transparency Measures Act ("ESTMA") came into force on June 1, 2015 to enhance the accountability and transparency of payments ...

CanadaEnergy and Natural Resources
Mark Wheeler
Mark Wheeler
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The Extractive Sector Transparency Measures Act ("ESTMA") came into force on June 1, 2015 to enhance the accountability and transparency of payments made by the mining and oil and gas industries to governments worldwide.

ESTMA requires Reporting Entities to publish on their website, and report to Natural Resources Canada ("NRCan") no later than 150 days after the Reporting Entity's financial year end, payments made to governments during the financial year. For a Reporting Entity with a financial year ended on December 31, 2017, the Reporting Entity must publish its report online and provide a link to the report to NRCan no later than May 30, 2018.

In April NRCan released a new Guidance document, reporting template, validation checklist, and information sheet on reporting payments to Indigenous Payees to assist Reporting Entities with their reporting obligations.

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