Canada passes extractives transparency law

Canada will require extractives companies listed on its stock exchanges or based in the country to disclose their payments under the Extractive Sector Transparency Measures Act, which came into force on 1 June. The act was passed into law on 16 December 2014 and, after 1 June, all extractives companies subject to the act will be required to report payments including taxes, royalties, fees and production entitlements of $100,000 or more to all levels of government in Canada and abroad.