Extended country-by-country reporting and Norway

What Equinor should have reported

Kristina — Mon, 01 Mar 2021 13:28:34 +0000

What Equinor should have reported Kristina Mon 01/03/2021 - 14:28

Den siste milepælen – vil Finansdepartementet redde industrien fra kaos?

Anonym — Mon, 22 May 2017 09:37:20 +0000

The last leg - will the regulator save the industry from chaos?

Anonym (not verified) Mon 22/05/2017 - 11:37

PWYP Norway has analyzed the accounts of Equinor from 2014 to 2018. Our findings show that Equinor could easily have reported on extended country-by-country reporting requirements on one extra page. It shows how little it takes before extended country-by-country reporting is in place.

Read our analysis of Equinor´s accounts from 2014 to 2018 here (Norwegian page)

The analysis of Equinor's 2018 accounts revealed the following findings:

Equinor’s reporting of contextual information is in some places best practice and in other places a complete mess! Read the briefing for more information.
Equinor would be well served by expanding the table on page 282 in the Annual Report to include the information in the format PWYP Norway has suggested. There is ample space in the table, and they have the information anyway, so why not just do it?
Major improvements to the reporting of production, investments and cost are needed. Employees only need specification of what they are (and moving them into the ECBC table), while revenues need minor adjustments.
The link between the tax expense and the taxes paid is still missing, and the lack of clarity in the taxes that Equinor is reporting shows that this is sorely needed.

Download

Written by

Frian Årsnes / PWYP Norge

Publication date

December 2019

ISBN

978-82-93212-95-9

Attachment	Size
PWYP_Equinoranalyse_2018_NOR.pdf	1.78 MB

Attachment	Size
PWYP_Equinoranalyse_2018_ENG.pdf	1.81 MB

Equinor`s expenses in the US and the tax haven clause

Kristina — Thu, 23 Jul 2020 12:34:36 +0000

Equinor`s expenses in the US and the tax haven clause Kristina Thu 23/07/2020 - 14:34

Norwegian municipalities should do as Sør-Varanger does

Kristina — Wed, 24 Jun 2020 12:41:04 +0000

Norwegian municipalities should do as Sør-Varanger does Kristina Wed 24/06/2020 - 14:41

Svakhetene i forskriften er tydelige ...men lovgiver sover

Anonym — Sat, 27 Oct 2018 16:41:55 +0000

The weaknesses are clearly showing ...but the regulator is sleeping

Anonym (not verified) Sat 27/10/2018 - 18:41

It is very positive that Statoil reports country-by-country information together with its annual accounts, and the legislator should ensure that this become standard.
Statoil still does not report eliminations separately, but here it is the legislator that needs to change the regulation to get a meaningful reporting.
It is still not possible, due to lack of information, to use the formula 1.1. Tax + Payable Tax – 31.12. Tax to reconcile tax in the accounts against taxes paid.

Written by

PWYP Norge

Publication date

October 2018

ISBN

978-82-93212-81-2 (norsk) 978-82-93212-83-6 (engelsk)

Attachment	Size
Read the briefing in Norwegian	246.52 KB

Attachment	Size
Read the briefing in English	245 KB

Norsk lov kan hjelpa sivilsamfunnet i Afrika

Anonym — Thu, 05 Dec 2013 12:11:54 +0000

Norwegian law can help African civil society Anonym (not verified) Thu 05/12/2013 - 13:11

Extended country-by-country reporting. The 3-minute version.

Anonym — Tue, 18 Dec 2012 13:38:23 +0000

Extended country-by-country reporting. The 3-minute version.

Anonym (not verified) Tue 18/12/2012 - 14:38

Summary: This briefing from PWYP Norway explains what the extended country-by-country reporting policy proposal is, why it is necessary, how it is streamlined with the reporting requirements in the Dodd-Frank law and the EU proposal, as well as with the extractive companies’ existing consolidation processes, and how it can be implemented easily and at low cost.

The briefing features a suggested reporting template in an easy-to-use format that captures the essential tax payment information in a meaningful context.

Would you like to know more?

The full policy proposal was published in January 2012.
Why is this important?

Publication date

November 2012

Attachment	Size
Download - English	94.68 KB

OLD VERSION: An extended country-by-country reporting standard. A policy proposal to the EU.

Anonym — Tue, 17 Jan 2012 22:10:39 +0000

OLD VERSION: An extended country-by-country reporting standard. A policy proposal to the EU.

Anonym (not verified) Tue 17/01/2012 - 23:10

NOTE: This is an old version of the report. In November 2013 we published a re-written and updated version, please find Version 2 via this page.

Sammendrag: 2/3 of the poorest people in the world live in resource rich countries. Natural resources has the largest value creation potential to mobilize own capital, but profit often ends up elsewhere. Today, the extractive industries can transfer significant profits out of the source country before it is taxed. One simple policy proposal will give investors and other constituents the instrument to follow their money.

What does the reporting template of the extended country-by-country reporting standard look like? Does the proposal cover Dodd-Frank?

For quick answers to this, and as an introduction to the extended country-by-country policy proposal, we have also made available a briefing note, with the reporting template.

See videos from the launch in Oslo, 19.11201

If you are interested in obtaining this old version of the report, please contact PWYP Norway via post@pwyp.no

Written by

Frian Aarsnes, delvis basert på arbeidet til Richard Murphy

Publication date

January 2012

ISBN

978-82-93212-03-4