BDO together with the Hart Nurse Group, presented the fourth Trinidad and Tobago EITI Report, which covers the 2014 and 2015 fiscal years.
Our main objective was to produce an EITI Report for Trinidad and Tobago on certain payments made directly or indirectly by participating extractive oil and gas companies, involved in upstream and associated activities to the Government and revenues reported as received by the Government agencies from those companies for the 2014 and 2015 fiscal years.
In addition, consistent with the ambitions of the TTEITI Steering Committee to include details of the mining sector in future EITI reports, we also conducted a pilot study on this sector which entailed reporting on four mining companies as a basis for determining the practicalities of including all mining companies in future reports.
Harun Abdul-Haqq, BDO presents TTEITI Chair, Victor A. Hart with the new Annual Report 2014 & 2015.
Countries implementing the EITI Standard publish EITI Reports that disclose the revenues and other information on the extractive sectors of our member countries. As part of these publications, companies report payments to government (taxes, royalties, etc) and the government reports what it has received. These two sets of figures are compiled and reconciled by an independent administrator and published in the EITI Report.
The reports and data also include a wide range of information on characteristics of the report, such as the scope of the report and location of additional sources. They also address availability of contextual information, such as contracts, licenses, legal and fiscal framework as well a summary of the sector specific figures (contribution to the economy, total revenues, etc).
More information on this report can be obtained on the Trinidad and Tobago Extractive Industries Transparency Initiative TTEITI website - see link.
To learn more about BDO's service offering to the Natural Resources industry, and the Public Sector, you can feel free to contact either Mr Riaz Ali, BDO International Liaison Partner or Mr Harun Abdul-Haqq, Risk Advisory Services.