Business
FY 2017 Payments to Governments Report
FY 2017 Payments to Governments Report.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 6942Z Petra Diamonds Limited 19 December 2017 \n\n \n \n\n\n\n\n19 December 2017\n\n\nLSE: PDL\n\n\n\n\n \nPetra Diamonds Limited\n(\"Petra\", \"the Group\" or \"the Company\")\n \nFY 2017 Payments to Governments Report\n \n \nPetra Diamonds Limited publishes the Company's Payments to Governments Report for the year ended 30 June 2017 (\"the Year\" or \"FY 2017\") (the \"Report\"). \n \nAbout this Report\n \nThis Report, which provides an overview of the payments to governments made by Petra Diamonds Limited, its subsidiaries and jointly controlled operations, is required under the United Kingdom's (\"UK\") Report on Payments to Governments Regulations 2014 (as amended) (\"the Regulations\"), which apply to large, UK-listed extractive companies. The Report aims to satisfy the Regulations as well as the Disclosure and Transparency Rules of the Financial Conduct Authority in the UK. \n \nFor the purposes of this Report, government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government. It excludes any payments to State Owned Enterprises to procure goods or services from these enterprises, typically consisting of utilities such as water and electricity.\n \nThis report is also available on the Company's website at: www.petradiamonds.com/investors/results-reports/.\n \nReporting threshold\n \nThis Report includes payments made which individually or collectively exceed GBP 86,000 within a financial year, as per the Regulations, however payments below this threshold may also be included. \n \nTypes of payments\n \n1. Corporate taxes\nThese are taxes paid by Petra on its income and profits in accordance with legislation enacted in the applicable jurisdictions, but exclude taxes levied on consumption (e.g. VAT, personal income taxes and sales taxes). Payments are reported net of refunds. \n \n2. Mining and other license fees\nThese are mining licenses and regional levies paid by Petra in accordance with legislation enacted in the applicable jurisdictions.\n \n \n \n3. Royalties\nRoyalties levied on the sale of rough diamonds. South African royalties are calculated ...