Reconciliation in General

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Reconciliation in General

In the next table the revenues received by MOF from the reporting companies are shown per sector in total and in proportion to the GDP. We explicitly note that the reported revenue in the EITI 2016 report does not reflect the full revenue from this sector. The GDP for 2016 amounts to SRD 19,720,377 thousand (website ABS). The GDP is noted as temporary figures.

Reported revenue streams MOF

Table 5.1 Reported revenue streams MOF related to the GDP 2016
*The cash dividend paid is from Staatsolie (SOE) regarding Fiscal year 2015 and includes 25% dividend tax. On State level this does not affect the amounts of payments received.
** This amount regards the USD value of the in-kind payments received in 2016 and reported on behalf of MOF by Grassalco. MOF did not report this as such.

Notes:

  • Part of the payments made by the companies in 2016 is received in 2017 by MOF.
  • In the reported revenue streams for the extractive industry for 2016 amounting SRD 565,600 thousand not all the above reported payments are included or recognized initially as proceeds from the extractive industry (see @). While on the other side revenues are included originating from the extractive industry but considered as ‘non EITI-income’ of which royalty fee paid by the exporters of gold SRD 93,081 based on exported gold is reflected in the reported amount by MOF. opposed the information on their website.

A breakdown of the total amounts received on cash basis per sector by MOF in 2016 into amounts received per reporting company per sector is exposed in table 5.2 and in the reconciliation, tables as set forth in the next paragraph. Herewith an explanation is provided regarding differences on company level in the payments received by MOF and the payments made by the companies.

The following payment flows from the reporting companies are included in the reconciliation:

Overview reported payment by companies and by MOF 2016

Table 5.2 Overview reported payment by companies and by MOF 2016

2019-12-17T22:01:53-03:00Tuesday 17 December 2019|EITI Suriname Report 2016|