Status Of Canadian Resource Revenue Transparency Reporting

In June 2013, Prime Minister Harper announced that within two years the federal government would establish mandatory reporting standards for Canadian extractive companies to enhance transparency on the payments they make to governments. This Update outlines the current status of Canadian resource revenue reporting.

In May 2014, Natural Resources Canada released a Consultation Paper confirming the mandatory reporting regime is being designed to capture payments to Aboriginal entities. However, "social payments" (e.g., for community centres, schools, hockey teams, arenas, capacity development, training) would be excluded. The listed payment categories also did not include payments to Aboriginal groups for the purposes of funding participation in consultation or regulatory proceedings. Therefore, not all types of payments made under an Impact Benefits Agreement or other similar agreements are intended to be subject to reporting requirements.