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Timor-Leste
Summary
- The report published in 2010 improves on prior country reports. It is easily readable and includes company-by-company data.
- It shows zero discrepancies between company payments and government receipts. Future reports could improve further by providing production data and revenue figures for gas and oil separately.
- The report contains no materiality clause, but covers all companies and revenue streams.
- There is also no information on the required audit standards for data submitted by companies or government, though this can be found in the validation report.
- All petroleum revenues go into Timor-Leste's Petroleum Fund, and the latest EITI report provides a very useful reconciliation of differences between the revenue figures from the Fund and the EITI figures.
Data Year
2009
Publication Year
2010
EITI Status
Compliant
Compliant
Report Compiled by Deloitte
EITI report Download PDF
Source laohamutuk.org
Government Receipts
$1,763,889,995.00
Company Payments
$1,763,889,995.00
GDP, 2009
BILLION US$
source
0.56
Total Government Revenue (% of GDP)
346.95
Reported EI Revenue (% of Total Revenue)
91.44
Report Quality Indicators | ||
1. Regularity | ||
| a) score | 0.25 | |
| b) total reports / implementing years | 2/8 | |
2. Timeliness | ||
| Lag between fiscal year of data and publication year. | 2 | |
3. Materiality | ||
| Report clearly defines a materiality threshold. | No | All petroleum revenues included, but materiality clause not provided. |
4. Data Reliability | ||
| Report contains audited data from: | ||
| a) companies | Yes | per Validation Report |
| b) government | Yes | per Validation Report |
5. Coverage | ||
| Revenue data includes the following revenue streams: | ||
| a) royalties | Yes | Royalties aggregated with profit oil. |
| b) taxes | Yes | |
| c) surface, rental or license fees | Yes | |
| d) bonuses | N/A | |
| e) state-owned enterprise (SOE) payments | N/A | Timor Leste had no SOE in 2009. |
| f) Report covers all extractive sector companies. | Yes | |
| g) Report states the price of any product received or sold by government. | No | |
| h) Report states the quantity of resources produced. | No | |
6. Discrepancies | ||
| Report contains: | ||
| a) information on the cause of revenue discrepancies. | Yes | |
| b) reconciled data following the correction of discrepancies. | Yes | All discrepancies were reconciled. |
7. SOE Revenue Flow | ||
| SOE Revenue Flow data is clearly explained in the report. | N/A | Timor Leste had no SOE in 2009. |
8. Disaggregation | ||
| Report provides financial data on individual: | ||
| a) companies | Yes | |
| b) revenue streams | Yes | Royalties aggregated with profit oil and thus could not be considered separately. |
| c) projects | No | |
| d) commodities | No | Report does not provide separate oil and gas numbers. |
9. Comprehensibility | ||
| Report contains: | ||
| a) a summary with key findings and revenue totals | No | |
| b) clear indication of what currencies and units of measurement are used | Yes | |
| c) written explanation of key findings and recommendations | Yes | |
| d) a clear definition of terms | Yes | |
10. Accessibility | ||
| Report is available: | ||
| a) in at least one official language | Yes | Portuguese (official language) and English, but not Tetum. |
| b) on a government website | Yes | |
Related Indicators | ||
| Revenue Watch Index, 2010 | 70.5 | |
| Corruption Perception Index, 2010 | 127/178 | |
| Open Budget Survey, 2010 | 34 | |
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