ESTMA

Payments to Governments
As part of Canada‚Äôs international commitments to contribute to the global efforts to increase transparency and deter corruption, on June 1, 2015, the federal Extractive Sector Transparency Measures Act, (“ESTMA”) came into effect for annual fiscal periods beginning after this date. ESTMA requires Canadian entities engaged in the commercial development of oil, natural gas or minerals to publicly disclose specific payments made to governments in Canada and abroad on an annual basis. All companies subject to ESTMA are required to report payments greater than CAD $100,000 made to any level of a Canadian or foreign government for the following categories: taxes (other than consumption taxes and personal income taxes), royalties, fees, production entitlements, bonuses, dividends (other than ordinary dividends paid to shareholders), infrastructure improvement payments and other prescribed categories of payments. Entities are required to make the ESTMA report publicly available online for at least five years.

2016 ESTMA Report (PDF)