Implementing the EU NRF Directive (44), this act has the Finnish title “Laki kaivannaisteollisuutta ja puunkorjuuta aarniometsissä harjoittavien yritysten viranomaisille suorittamien maksujen julkistamisesta”. It applies to companies of the extractive industries and primary forest logging companies. These companies are obliged to inform the Finnish authorities of material payments made to governments in those countries where they carry out their operations. This is to be done through an annual declaration.
Industry sectors covered by the instrument
Organizations covered by the instrument
All organizations - extractive industry and primary forest logging companies.
However, the Act does not apply to an entity which is not a public interest entity and where no more than one of the following three limit value is exceeded:
1) net sales or income equivalent to EUR 40 000 000;
2) The balance sheet total of EUR 20 000 000;
3) The average number of employees to 250.
Employment and Economy
Type of instrument
Mandatory or voluntary
The geographical scope