See section 3.1.2 Governmental structure for their tasks in SR-EIT 2016 on Regarding the extractive industry (oil & gas, gold and aluminum), MONR is responsible for the sustainable development of the mineral sector, such that optimal revenues are earned…
MOF consists of three directorates: 1. Finance The Finance Directorate is responsible for: The general management of all Government funds and the supervision of their correct use. Here, the financial interests of the state and other institutions, in which the…
Based on the financial data available at the Ministry of Finance, it has been concluded by MSG SR-EITI, that 4 companies of the oil sector and 3 companies of the mining sector, are considered material for these two sectors. Additionally,…
The reporting by the reporting companies is based on a cash basis and not on an accrual basis, therefore the companies must only enter the payments made in the reporting year, i.e. January 1 – December 31, 2017, in line…
Income of the Government other than Legal and Fiscal based can be reported by each reporting company on specific circumstances and/or arrangements. For 2017 the following payment flows to the Government have been identified in the reporting and reconciliation phase:…
The following payment flows from the reporting companies are included in the reconciliation 2017: Direct taxes, indirect taxes, other income (non-tax). For these flows of payments, we refer to section 3 of this report. Direct and indirect taxes are paid…
The revenue flows included in the EITI-2017 report are identified and approved by MSG of EITI Suriname. Generally, the Government finance system reports all the payments made by the companies as income, regardless of the beneficial owner (ministry) that initiates…
Fiscal and legal law and regulations applicable for SR-EITI 2017 reporting:
For the legal and fiscal law and regulations of the extractive industry in Suriname as summarized in section 3.2 of this report and for more we refer to the website of the Government and the Suriname EITI website …
The main basis for determining the financial flows from the extractive industry to the Government is the annual budget 2017, as reported by the Government of Suriname (website: ). The budget is analyzed on type and significance of payment/revenue transactions…