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Act on companies of the extractive industry or primary forests logging for disclosing payments to public foreign authorities

Finland Current 2015

This act is related to the EU NRF Directive (44). 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.

Issuer name

Ministry of Employment and the Economy

Government ministry

Business/Trade/Industry

More information

However, the Act does not apply to an undertaking 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.

Organizations covered by the instrument

All Companies

Target organization notes

PIE

Disclosure venue

annual report

ESG coverage - E (Environment)

Land Use & Forests, Materials & Resource Efficiency (circularity)

ESG coverage- Eco (Economic & General)

Economic performance

Status

Current

Country

Finland

Region

Europe

Date of publication

2015

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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