30 Sep 2016 15:34
Vedanta Resources plc
16 Berkeley Street
London W1J 8DZ
Tel: +44 (0) 20 7499 5900
Fax: +44 (0) 20 7491 8440
www.vedantaresources.com
Report on Payments to Governments for the year 2015-2016 and Taxes Paid in 2015-2016
Introduction
Vedanta Resources plc ("Vedanta" or "the Group") today Friday 30th September 2016 provides information in accordance with DTR4.3A and The Reports on Payments to Governments Regulations 2014 (the "Regulations") in respect of payments made by the Group for the year ended 31 March 2016.
The Reports on Payments to Governments Regulations (UK Regulations) came into force on 1 December 2014 and requires UK companies in the mining sector to publicly disclose payments made to governments in the countries where they undertake such operations.
The table below represents the Group's consolidated report on payments made to governments under UK Regulations for the year ended 31 March 2016. The table includes all payments made in excess of £86,000 ($130,000) for the year ended 31 March 2016, total payments to governments under the Regulations amounted to US$2.17 billion.
The Report on Payment to Governments for the year ended 31 March 2016 will be filled at Companies House.
The Report has been prepared in compliance with chapter 10 of the Accounting Directive.
Vedanta has submitted a copy of the Report to the National Storage Mechanism which will shortly be available for inspection at www.hemscott.com.nsm.do.
As a voluntary initiative we also prepare a 'Tax Transparency Report (TTR)' to ensure proactive transparency in tax reporting and greater accountability towards our stakeholders which helps in getting detailed information about the overall economic contribution of Vedanta to the government of countries where we operate. The TTR report is also more comprehensive than the mandatory filing and, in addition to reporting specific payments in relation to extractive projects under the UK Regulations, includes the wider payments made by Vedanta to governments in each of the main countries in which we operate.
The Tax Transparency report is available to download at http://sustainabledevelopment.vedantaresources.com/sustainable-development/performance-and-reports.html
Text of Report on Payments to Governments for the year ended 31 March 2016
Payments Report - Project wide disclosure (all amounts in USD Millions). |
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Project Code | Project Name | Country Code List | Payment Type | Unit Measure | Volume | Valuation Method | Currency | Amount | Company Name | Company Number | Notes | Report Name | Report End Date | Version | Report Notes | Filing Date |
HZL001 | Hindustan Zinc Ltd | India | Tax | Millions | NA | NA | USD | 355.01 | Vedanta Resources Plc. | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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HZL-ZM-001 | HZL-Zawar Mine | India | Royalties | Millions | NA | NA | USD | 13.73 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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HZL-RD-001 | HZL-RD Mine | India | Royalties | Millions | NA | NA | USD | 7.66 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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HZL-SK-001 | HZL-SK Mine | India | Royalties | Millions | NA | NA | USD | 40.89 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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HZL-RA-001 | HZL-RA Mines | India | Royalties | Millions | NA | NA | USD | 112.45 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL001 | Cairn India Ltd | India | Tax | Millions | NA | NA | USD | 30.77 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-RJ-001 | CIL-RJ-ON-90/1 | India | Royalties | Millions | NA | NA | USD | 350.26 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-KG-001 | CIL-KG-OSN | India | Royalties | Millions | NA | NA | USD | 10.21 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-RJ-001 | CIL-RJ-ON-90/1 | India | Production entitlements | Millions | NA | NA | USD | 372.05 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-KG-001 | CIL-KG-OSN | India | Production entitlements | Millions | NA | NA | USD | 117.58 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-CB-001 | CIL-CB-OS/2 | India | Production entitlements | Millions | NA | NA | USD | 62.20 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-RJ-001 | CIL-RJ-ON-90/1 | India | Tax | Millions | NA | NA | USD | 564.63 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-KG-001 | CIL-KG-OSN | India | Tax | Millions | NA | NA | USD | 14.34 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-CB-001 | CIL-CB-OS/2 | India | Tax | Millions | NA | NA | USD | 0.31 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-RJ-001 | CIL-RJ-ON-90/1 | India | Tax | Millions | NA | NA | USD | 6.51 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-KG-001 | CIL-KG-OSN | India | Licence fees & other payments | Millions | NA | NA | USD | 0.70 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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CIL-MB-001 | CIL-MB-DWN | India | Licence fees & other payments | Millions | NA | NA | USD | 0.18 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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VEDL-Copper-001 | VEDL-C-Tuti | India | Licence fees & other payments | Millions | NA | NA | USD | 0.09 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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VEDL-IO-GA-001 | VEDL-IO-Gadia Sodo | India | Royalties | Millions | NA | NA | USD | 7.11 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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VEDL-IO-GA-003 | VEDL-IO-Mareta Sodo | India | Royalties | Millions | NA | NA | USD | 0.41 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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VEDL-IO-KA-001 | VED-IO-A Narayan | India | Royalties | Millions | NA | NA | USD | 3.86 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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VEDL-Al-001 | VEDL-AL-JS | India | Royalties | Millions | NA | NA | USD | 28.02 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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SRL001 | SRL-IO-Onvalienchi Math | India | Royalties | Millions | NA | NA | USD | 0.09 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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SMCL001 | SMCL-IO-Lamgao | India | Royalties | Millions | NA | NA | USD | 0.20 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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SMCL002 | SMCL-IO-Mandoorbaga | India | Royalties | Millions | NA | NA | USD | 0.53 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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SMCL003 | SMCL-IO-Totichomor Dongor | India | Royalties | Millions | NA | NA | USD | 0.48 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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TSPL001 | TSPL | India | Royalties | Millions | NA | NA | USD | 2.48 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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VGCB001 | VGCB | India | Royalties | Millions | NA | NA | USD | 9.91 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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VGCB001 | VGCB | India | Licence fees & other payments | Millions | NA | NA | USD | 0.49 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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MVPL001 | MVPL | India | Tax | Millions | NA | NA | USD | 0.29 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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KCM001 | KCM | Zambia | Royalties | Millions | NA | NA | USD | 53.28 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Lisheen001 | Lisheen | Ireland | Tax | Millions | NA | NA | USD | -0.41 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Lisheen001 | Lisheen | Ireland | Royalties | Millions | NA | NA | USD | 2.83 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Skorpion001 | SZ | Namibia | Tax | Millions | NA | NA | USD | 1.93 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Skorpion001 | SZ | Namibia | Royalties | Millions | NA | NA | USD | 0.72 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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BMM001 | BMM | South Africa | Tax | Millions | NA | NA | USD | 2.00 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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BMM001 | BMM | South Africa | Royalties | Millions | NA | NA | USD | 0.37 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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VEDL-corp-004 | VEDL-Corp | US | Tax | Millions | NA | NA | USD | 1.42 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Total |
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| 2,175.58 |
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Payments Report - Payment by Government disclosure - (all amounts in USD Millions). |
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Country Code | Government | Payment Type | Unit Measure | Volume | Valuation Method | Currency | Amount | Company Name | Company Number | Notes | Report Name | Report End Date | Version | Report Notes | Filing Date |
INDIA | Ministry of Finance, Central Board of Direct Taxes, Government of India | Tax | Million | NA | NA | USD | 386.07 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Ireland | Office of the Revenue Commissioners Ireland | Tax | Million | NA | NA | USD | -0.41 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Namibia | Namibian Inland Revenue Authority | Tax | Million | NA | NA | USD | 1.93 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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South Africa | South African Revenue Services | Tax | Million | NA | NA | USD | 2.00 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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US | Internal Revenue Service, US | Tax | Million | NA | NA | USD | 1.42 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | The Department of Mines and Geology, Rajasthan State Govt | Royalties | Million | NA | NA | USD | 174.74 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Director Petroleum, Rajasthan State Govt | Royalties | Million | NA | NA | USD | 350.26 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Ministry of Petroleum and Natural Gas, Government of India | Royalties | Million | NA | NA | USD | 10.21 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Director Mines, Goa | Royalties | Million | NA | NA | USD | 8.82 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Director Mines, Karnataka | Royalties | Million | NA | NA | USD | 3.86 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Government of India, Ministry of Mines- paid through Coal India Limited | Royalties | Million | NA | NA | USD | 30.50 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Vishakhapatnam Port Trust | Royalties | Million | NA | NA | USD | 9.91 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Zambia | Zambia Revenue Authority Domestic Taxes | Royalties | Million | NA | NA | USD | 53.28 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Ireland | Department of Communications, Energy & Natural Resources, Ireland | Royalties | Million | NA | NA | USD | 2.83 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Namibia | Namibian Inland Revenue Authority | Royalties | Million | NA | NA | USD | 0.72 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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South Africa | South African Revenue Services | Royalties | Million | NA | NA | USD | 0.37 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Ministry of Petroleum and Natural Gas, Government of India | Production entitlements | Millions | NA | NA | USD | 551.83 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Ministry of Finance, Government of India | Tax | Millions | NA | NA | USD | 585.79 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Ministry of Petroleum and Natural Gas, Government of India | Licence fees & other payments | Millions | NA | NA | USD | 0.88 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Toothukudi City Municipal Corporation, Government of Tamil Nadu | Licence fees & other payments | Millions | NA | NA | USD | 0.09 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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INDIA | Vishakhapatnam Port Trust, Ministry of Shipping, Government of India | Licence fees & other payments | Millions | NA | NA | USD | 0.49 | Vedanta Resources Plc | 4740415 |
| Extractive Industry Reporting | 31-03-2016 | 1 |
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Total |
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| 2,175.58 |
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For further information, please contact:
Roma Balwani
President - Group Sustainability, CSR and Communications
Tel: +91 22 6646 1000
gc@vedanta.co.in
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.