Fiscal Regimes For Extractive Industries Design And Implementation
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Fiscal Regimes For Extractive Industries Design And Implementation
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-16
Fiscal Regimes For Extractive Industries Design And Implementation written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-16 with Business & Economics categories.
Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
Administering Fiscal Regimes For Extractive Industries
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Author : Mr.Jack Calder
language : en
Publisher: International Monetary Fund
Release Date : 2014-07-18
Administering Fiscal Regimes For Extractive Industries written by Mr.Jack Calder and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-18 with Nature categories.
This handbook is one of the first of its kind to focus attention on effectively administering revenues from extractive industries. It provides policymakers and officials in developing and emerging market economies with practical guidelines to establish a robust legal framework, organization, and procedures for administering revenue from these industries. It discusses transparency and how to promote it in the face of increasing demands for clarity and how developing countries can strengthen their managerial and technical capacity to administer these revenues.
Fiscal Analysis Of Resource Industries
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Author : Ms.Oana Luca
language : en
Publisher: International Monetary Fund
Release Date : 2016-02-24
Fiscal Analysis Of Resource Industries written by Ms.Oana Luca and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-24 with Business & Economics categories.
This manual introduces key concepts and methodology used by the Fiscal Affairs Department (FAD) in its fiscal analysis of resource industries (FARI) framework. Proper evaluation of fiscal regimes for extractive industries (EI) requires economic and financial analysis at the project level, and FARI is an analytical tool that allows such fiscal regime design and evaluation. The FARI framework has been primarily used in FAD’s advisory work on fiscal regime design: it supports calibration of fiscal parameters, sensitivity analysis, and international comparisons. In parallel to that, FARI has also evolved into a revenue forecasting tool, allowing IMF economists and government officials to estimate the composition and timing of expected revenue streams from the EI sector, analyze revenue management issues (including quantification of fiscal rules), and better integrate the EI sector in the country macroeconomic frameworks. Looking forward, the model presents a useful tool for revenue administration practitioners, allowing them to compare actual, realized revenues with model results in tax gap analysis.
The Taxation Of Petroleum And Minerals
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Author : Philip Daniel
language : en
Publisher: Routledge
Release Date : 2010
The Taxation Of Petroleum And Minerals written by Philip Daniel and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
"A timely and welcome guide to policy makers and advisers in the area of resource taxation, combining theoretical underpinings with. sound practical advice over a range of relevant topics, from tax design, through fiscal and financial modeling to tax administration. It will be an invaluable reference in countries such as my own, where the discovery of major new oil and gas reserves, a large. established mining sector, and new and renewed investor interest have attracted national and international interest, with particular focus on the generation, collection, sharing and management of extractive industry revenues." Joseph Amoake-Tuffour, Advisor, Ministry of Finance and Economic Planning, Republic of Ghana "This book is a rich source of reference for all who are concerned with the fiscal regimes for natural resources. The revenues which natural resources generate are often their main contribution to economic development. Thus, it is critical that governments and their citizens understand the fiscal alternatives available to them, the historical experience and what may be expected of these regimes, and the practical problems of administration and implementation. Those charged with making wise and informed decisions, especially where natural resources bulk large, will profit greatly from the contributions assembled here." Joseph C. Bell, Chair, Advisory Board, Revenue Watch Institute "This book is an essential tool for government and company officials, practitioners, advisers, and civil society advocates in working to promote efficient and equitable petroleum and minerals tax systems. Norway's Oil for Development Program works to further beneficial management of petroleum resources in a wide range of developing countries. The contributors to this book take stock of current knowledge about how to do this in the area of fiscal regime design---and extend it. There are no unique solutions, but this book offers insights and analytical techniques that can greatly enhance the capacity of decision-makers to design the right solutions for their own environments." Petter Nore (Director, Oil for Development Programme, Norwegian Agency for Development (NORAD) "Taxes on non-renewable natural resources provide more than 50% of fiscal revenues in some 20 countries. How do you design an effective system for raising this tax? There are trade-offs between rent capture, development incentives and risk sharing, all in an environment of long run investments, asymmetric information, and price, geological, and political risk. In response, fiscal systems employ a bewildering combination of profits taxes, royalties, production sharing, and revenues from sale of production rights. This volume brings together a fine combination of economists and practitioners who make sense of these challenging issues and provide essential reading for policy makers faced with these choices." Professor Tony Venables, B.P. Professor of Economics and Director of the Oxford Centre for the Analysis of Resource Rich Economies
International Taxation And The Extractive Industries
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Author : Philip Daniel
language : en
Publisher: Routledge
Release Date : 2016-09-23
International Taxation And The Extractive Industries written by Philip Daniel and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-23 with Business & Economics categories.
The taxation of extractive industries exploiting oil, gas, or minerals is usually treated as a sovereign, national policy and administration issue. This book offers a uniquely comprehensive overview of the theory and practice involved in designing policies on the international aspects of fiscal regimes for these industries, with a particular focus on developing and emerging economies. International Taxation and the Extractive Industries addresses key topics that are not frequently covered in the literature, such as the geo-political implications of cross-border pipelines and the legal implications of mining contracts and regional financial obligations. The contributors, all of whom are leading researchers with experience of working with governments and companies on these issues, present an authoritative collection of chapters. The volume reviews international tax rules, covering both developments in the G20-OECD project on ’Base Erosion and Profit Shifting’ and more radical proposals, identifying core challenges in the extractives sector. This book should become a core resource for both scholars and practitioners. It will also appeal to those interested in international tax issues more widely and those who study environmental economics, macroeconomics and development economics.
Fiscal Regimes For Extractive Industries Design And Implementation
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Author : Internationaler Währungsfonds
language : en
Publisher:
Release Date : 2012
Fiscal Regimes For Extractive Industries Design And Implementation written by Internationaler Währungsfonds and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues 'macro-critical' - especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years - driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: Also available in French: Regimes fiscaux des industries extractives: conception et application Also available in Spanish: Regimenes fiscales de las industrias extractivas: Diseno y aplicacion.
Fiscal Systems For Hydrocarbons
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Author : Silvana Tordo
language : en
Publisher: World Bank Publications
Release Date : 2007-01-01
Fiscal Systems For Hydrocarbons written by Silvana Tordo and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Technology & Engineering categories.
Although host governments and investors may share one common objective - the desire for projects to generate high levels off revenue - their other goals are not entirely aligned. Host governments aim to maximize rent for their country over time, while achieving other development and socioeconomic objectives. Investors aim to ensure that the return on investment is consistent with the risk associated with the project, and with their corporations' strategic objectives. To reconcile these often conflicting objectives, more and more countries rely on transparent institutional arrangements and flexible, nuetral fiscal regimes. This paper examines the key elements of the legal and fiscal frameworks utilized in the petroleum sector and aims to outline desirable features that should be considered in the design of fiscal policy with the objective of optimizing the host government's benefits, taking into account the effect this would have on the private sector's investment.
Transparent Governance In An Age Of Abundance
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Author : Juan Cruz Vieyra
language : en
Publisher: Inter-American Development Bank
Release Date : 2014-10-31
Transparent Governance In An Age Of Abundance written by Juan Cruz Vieyra and has been published by Inter-American Development Bank this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-31 with Business & Economics categories.
During the last decade, the Latin American and Caribbean region has experienced unprecedented natural resources abundance. This book highlights how transparency can help realize the benefits and reduce negative externalities associated with the extractive industries in the region. A central message is that high-quality and well-managed information is critical to ensure the transparent and effective governance of the sector. The insights from experiences in the region can help policymakers design and implement effective regulatory reforms and adopt international standards that contribute to this goal. This is particularly important at a time when the recent boom experienced by extractives in the region may be coming to an end.
Value Added Tax In The Extractive Industries
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Author : Artur Swistak
language : en
Publisher: International Monetary Fund
Release Date : 2023-10-27
Value Added Tax In The Extractive Industries written by Artur Swistak and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-27 with Business & Economics categories.
Lower capacity countries often struggle to administer the Value Added Tax (VAT) in the extractive industries, partly due to the large VAT refunds needs of this capital and export-intensive sector. Assuming that the first-best policy (apply the standard VAT to the extractive industry) is not possible in the medium-term, what should countries do? This paper systemically analyzes second-best VAT policy designs considering the impact of the VAT on three key stakeholders: the investor, domestic suppliers, and the tax administration. The analysis concludes that the generally preferred policy is to provide a VAT exemption for imports and either fully tax or exempt domestic supplies, although country characteristics (and, specifically the relative weighting of stakeholders) matter. Moreover, governments should make efforts to shorten refund delays and transition to a standard VAT over the longer-term.
South Africa
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-08
South Africa written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-08 with Business & Economics categories.
This Technical Assistance report reviews South Africa’s tax system and also examines the fiscal regime with a view to generating a sustainable revenue contribution from mining and petroleum in future. Mining has historically been the mainstay of the South African economy. Mineral exports remain the principal contributor to foreign exchange earnings on the current account. South Africa is not yet a significant producer of crude oil or natural gas. Oil and gas exploration nevertheless shows promise. Taxation is far from top of the list in current challenges facing the development of extractive industries in South Africa. The national goal of economic and social transformation in favor of Historically Disadvantaged South Africans has major impact on the mining sector.