Ireland · Reporting regimes beyond the financial statements
Entity and consolidated reports on payments to governments, and the exemptions
the Companies Act 2014 · sections 1450 to 1453 and 1457 to 1460
Where the problem is
The report is required by activity and by size together. Subject to sections 1454, 1455 and 1456, the directors of a company that is a large company or a relevant company must prepare a report where the company is a mining or quarrying company or a logging company of the kind section 1450 describes. A holding company that is a large company or a relevant company must act as section 1451(1) requires, including where it is obliged to prepare group financial statements.
The anti-avoidance rule is explicit and it is drafted against exactly the two techniques companies reach for. Payments, activities and projects may not be artificially split or aggregated to avoid the application of the Part (section 1452(4)). Disclosure must reflect the substance rather than the form of each payment, activity or project (section 1452(5)). Where payments in kind are made to a government, the report must state their value and, where applicable, their volume, and the directors must act as section 1452(6) requires.
What the Companies Act 2014 requires
Section 1452(1) sets what the entity payment report must include in relation to relevant activities, beginning with the government to which each payment was made. Section 1453(1) sets what a holding company must include in respect of its consolidated payment report for each financial year. Sections 1454 to 1457 carry the exemptions from the entity report and the consolidated report.
Sections 1458 to 1460 govern approval, signing and delivery. A company whose directors are required to prepare an entity payment report under section 1450, or a consolidated payment report under section 1451, must act as section 1459(1) requires. A company whose directors are exempt under section 1455 or 1456 must act as section 1460(1) requires, so the exemption itself has a filing consequence.
The tool that solves it
Files 180, 181 and 182 of the IE-COMPANY package cover this situation. File 180 works through the obligation to prepare an entity payment report and the content required. File 181 works through the consolidated payment report and each exemption from it. File 182 works through approval, signing and delivery of the reports, including the position where an exemption is claimed.
This situation is covered by these files from the pack IE-COMPANY
- File 180 · The obligation to prepare a report on payments to governments
- File 181 · The consolidated payment report and the exemptions from it
- File 182 · Approval, signing and delivery of payment reports
Files for this situation
Free · this situation only
The working files named above cover this situation. You take them from your free ComplianceSME account when this situation arises, and you come back to the site for the next situation.
You take the starter pack first: PRINT_ME_FIRST.pdf, the training file T_TRAIN, the four volumes of the reference file T_HELP, and File 1, which builds the ENTITY_PASSPORT.md that the other files require. The situations open in your account once you have taken the starter pack.
Take the files for this situationThe free system
Free · with a free account
The ComplianceSME system for the Companies Act 2014 is free. It needs a free ComplianceSME account and runs inside your own Claude account. It holds 215 working files, the training file, the reference file in four volumes, the regulation analysis, the final review with the gap analysis, and the report assembly. You take the starter pack first, and after that the files for one situation at a time, as each situation arises.
The starter pack holds PRINT_ME_FIRST.pdf, the training file T_TRAIN, the four volumes of the reference file T_HELP, and File 1, which builds the ENTITY_PASSPORT.md that every other working file requires. Print PRINT_ME_FIRST.pdf and read it before any other file.
The system runs in your own Claude account. Upload the files, type START, and the system asks you one question at a time until it has built your documentation, citing the section at every point.
Take the starter packComplianceSME tracks the Companies Act 2014 and issues update files through the membership, so that you are never working from a superseded version. Membership