Canadian Tax Adviser, February 02, 2016. Oil and gas and mining companies operating in Canada will soon have to register for an "ESTMA ID" under the new regime requiring them to report tax and other payments they make to Canadian and foreign governments each year.
Officials from Natural Resources Canada (NRCan) spoke about the Extractive Sector Transparency Measures Act (ESTMA) at a session held with the Canadian Association of Petroleum Producers in Calgary on January 27, 2016. The officials said that registration for the reporting regime, known as ESTMA, is to begin in April 2016 when forms are released. They suggested that the deadline for registration would be June 2016.
The officials also said that that final guidance and technical specifications on the reporting regime will be issued in the next few weeks.
For more information, contact your KPMG adviser.
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