UK EITI Payments report for 2022 published
Independent administrator reconciles money paid by oil, gas, mining & quarrying companies to the UK Government for the ninth year running.
Oil, gas, mining and quarrying companies pay millions of pounds in tax and licensing payments to the UK Government each year. To improve public understanding and assurance that these payments are aligned, UK EITI worked with 47 extractives companies operating across the UK and the UK Continental Shelf to collect data on their payments to and repayments from the UK Government in 2022.
The newest UK EITI Payments Report details the payments made in 2022 by 33 oil and gas companies and 14 mining and quarrying companies operating in the UK as well as repayments by the government for the ninth year running. UK Government departments and agencies disclosed the monies they received from oil, gas, mining, and quarrying companies and the repayments Government made to those companies. All company and government figures were then reconciled by an independent administrator.
• Sector transparency and governance remain strong.
• All UK Government departments and agencies reported the monies they received from and repaid to these extractive companies.
• 98.75% of potential in-scope payments are captured in the report.
• Of a net total of £6.79 billion reported by government and in-scope companies, only £1,212 or just 0.00002% was unreconciled.
• All 47 companies also submitted a beneficial ownership declaration relating to the people who ultimately own and/or control each company.
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