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Transparency underlies all our actions

Prompt payment and respect for the law are fundamental values for us and are integrated at every level and in every way that Eni works.

Transparency on payments to governments

Energy companies such as Eni work closely with governments around the world and they often are our partners in big financial transactions. As such, we often make payments to governments in different countries to support administration, healthcare, education and social activities. Managing these payments properly contributes to realise “Peace, justice and strong institutions” – Sustainable Development Goal 16 on the UN 2030 Agenda. For these reasons, since 2015, we deemed important to voluntarily disclose these payments. Since 2017, we have been publishing a “Report on Payments to Governments” in line with European Directive 2013/34.

The criteria used to draw up the document are based on mainstream interpretations of national and international legislation. Our report covers payments for exploration, research, development and extraction of petroleum (including condensates) and natural gas. Payments for refining, liquefied natural gas (LNG), gas-to-liquids and other Downstream activities are excluded.

Since 2005, Eni has been signed up to the Extractive Industries Transparency Initiative (EITI), a global multi-stakeholder initiative promoting a responsible and transparent use of financial resources from the extraction sector.

In every member country, EITI is supported by a Multi-Stakeholder Group where the Government, extracting companies and civil society come together to carry out the Initiative’s aims. In the countries of operation, Eni plays an active role in supporting the Initiative and preparing its reports. It is also a member of local Multi-Stakeholder Groups. In Indonesia, Kazakhstan, Mexico, Mozambique and Nigeria Eni is following the work of the countries’ Multi-Stakeholder Groups by signing up to local industrial and/or business associations.

EITI Countries & Non-EITI Countries

EITI countries Non-EITI countries
East Timor, Ghana, Indonesia, Iraq, Ivory Coast, Kazakhstan, Mexico, Myanmar, Mozambique, Nigeria, Republic of the Congo, Ukraine, United Kingdom. Algeria, Angola, Australia, China, Cyprus, Denmark, Egypt, Gabon, India, Kenya, Libya, Iran, Italy, Montenegro, Pakistan, Russia, South Africa, Tunisia, Turkmenistan, Venezuela, Vietnam.

Country-by-Country Report

In further moves to be transparent, and in keeping with Italian Law no. 208/2015, Eni draws up its Country-by-Country Report (CbC Report), as recommended in Action 13 of the project “Base Erosion and Profit Shifting ­(BEPS)”. The latter was started by the OECD, with the help of the G20, to fight “erosion of the tax basis and transferral of profits” by multinationals. The CbC Report is a collection of data on the overall volume of business, profits and taxes recorded in the places in which Eni does business. It is a tool for assessing fiscal risk and is sent by the Italian tax administration to all other such administrations with which it has an agreement for exchanging information. The CbC 2019 edition will be released by the end of December 2020.

Furthermore, in line with its disclosure on “beneficial ownership”, Eni publishes its company structure in its Integrated Annual Report.

Payments overview 2019   (€ thousand)
Country Production
Entitlement
Taxes Royalties Bonuses Fees Infrastructure
Improvements
Total

Europe

 

Italy

-

-

169,278

453

1,321

-

171,052

Cyprus

-

-

-

4,000

530

-

4,530

Montenegro

-

-

-

-

392

-

392

Netherlands

-

283

-

-

-

-

283

United Kingdom

-

140,898

-

-

4,355

-

145,253

Africa

 

 

 

 

 

 

Algeria

-

241,741

6,065

77,891

-

-

325,697

Angola

1,128,402

225,894

90,958

-

88

-

1,445,342

Congo

104,016

148,621

180,435

-

-

-

433,072

Egypt

-

602,031

-

8,351

-

-

610,382

Ghana

167,059

-

90,825

-

925

-

258,809

Ivory Coast

-

-

-

2,680

-

-

2,680

Libya

-

1,984,855

242,494

-

-

-

2,227,349

Nigeria

1,035,539

101,356

171,700

-

48,122

-

1,356,717

Tunisia

98,882

22,300

7,650

-

-

-

128,832

Americas

 

 

 

 

 

 

Argentina

-

1,272

-

2,233

35

-

3,540

Mexico

24,473

-

7,505

-

7,768

-

39,746

United States

-

13,862

86,349

-

617

-

100,828

Asia

 

 

 

 

 

 

China

-

364

-

-

8

-

372

Indonesia

174,600

4,392

-

11,202

-

-

190,194

Iraq

-

30,789

-

-

-

-

30,789

Kazakhstan

-

171,847

-

7,146

-

-

178,993

Oman

-

-

-

-

134

-

 134

Pakistan

90,945

6,734

14,218

-

536

-

 112,433

Timor Leste

39,906

29,593

-

-

587

-

70,086

Turkmenistan

96,610

10,036

5,989

-

-

-

112,635

United Arab Emirates

-

468,234

214,480

174,825

520

-

858,059

Australia and Oceania

 

 

 

 

 

 

Australia

-

(903)

-

-

1,457

-

554

Total

2,960,432

4,204,199

1,287,946

288,781

67,395

-  8,808,753
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Fighting corruption at every level

Fighting corruption is based, above all, on prevention. This is why we have adopted an Eni’s Anti-Corruption Compliance Program, which we ask all our staff to respect and act upon consistently. Such Compliance Progra is inspired also by our Code of Ethics and provides the principles and rules to follow, in compliance with anti-corruption law, for everyone we employ and work with around the world. We believe that it is important not just to ensure Eni employees conduct themselves properly, but also to extend that conduct to the places in which we work and among our peers.

We respect the tax rules in the countries in which we work

Through our work we make a significant contribution to tax revenues – and therefore the development and socio-economic wellbeing of the countries in which we operate – both by paying taxes and transacting directly with governments.

Eni is aware of how important these financial activities are to countries’ collective wellbeing and conducts itself with transparency, honesty, probity and good faith, as set out in its Code of Ethics.

In practical terms, our strategy is to calculate the correct taxes in the different systems under which Eni works, mitigate the risk of double taxation (both legal and financial) on our profits and prevent any disputes with legal or tax authorities in the countries in which we work.

 

With this in mind, Eni adopted the principles in the OECD Guidelines for Multinational Enterprises (2011 version), according to which companies should:

  • Contribute to the public finances of host countries by making timely payment of their tax liabilities.
  • Comply with both the letter and spirit of the tax laws and regulations of the countries in which they operate.
  • Promptly give the relevant authorities all information required by law or needed to correctly determine taxes due.
  • Determine transfer prices between groups in line with the OECD Guidelines on such prices for multinationals and tax administration.

Tax strategy

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PDF 208.53 KB

Representing interests through working in partnership

Representing our interests at all our different offices is challenging – not only in terms of protecting the company, but also in properly assessing the impact of our work on local areas and improving the effects, and effectiveness, of our interventions. This is why we establish transparent dialogues with state institutions and civil organisations in all countries. As an energy company, it is only right that we should hold consultations to work out policies, pooling our expertise in energy and the environment. In 2017, for example, Eni took part in an Italian consultation on energy strategy, organised by the Ministry of Economic Development and the Ministry for Environment, Land and Sea Protection. It put forward opinions and suggestions to the institutions involved in defining Italy’s long-term energy strategy.