Canada Looks To Make Energy Cos. Reveal Foreign Payments

Law360, New York (June 13, 2013, 3:57 PM EDT) -- Canada on Wednesday said it would require its country's oil, gas and mining companies to disclose payments made to foreign governments, following similar steps taken by the U.S. and European Union, though the U.S. rule is currently being challenged in court by the petroleum industry.

While the Canadian government didn't offer up any specific requirements it will impose, requirements will likely include material payments by extractive companies to all levels of governments domestically and internationally, including taxes, license fees and other receipts.

The requirements will ensure...
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