Fiscal Systems For Hydrocarbons
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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.
Petroleum Fiscal Systems And Contracts
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Author : Muhammed Abed Mazeel
language : en
Publisher: diplom.de
Release Date : 2014-04-11
Petroleum Fiscal Systems And Contracts written by Muhammed Abed Mazeel and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-11 with Business & Economics categories.
Inhaltsangabe:Introduction: The petroleum fiscal system for a country is essentially the taxation structure, including royalty payments, that has been established by legislation. More broadly, the fiscal system includes all aspects of the contractual and taxation framework that governs the relationship between the host government and an international oil company. Worldwide, there are many different fiscal systems with different taxation and contractual terms. These vary from country to country and some countries use more than one system. Countries, for example, may offer concessionary system arrangements or service and production sharing agreements. Whichever system prevails, the issue for an oil company is how can it recover costs expended and how will the profit be divided. This depends upon tax regulations and the principles of the economics of the life of a field. The focus of this book is on the mechanics of the various kinds of fiscal systems and the factors that drive exploration and development economics. The emphasis is on practical aspects of petroleum taxation and industry/government relationships. There is also fertile ground for considering the philosophy of petroleum taxation which has changed the industry. Legal and operational aspects of contract/fiscal terms are also examined to provide a foundation in the dynamics of international negotiations. Both industry and government viewpoints are addressed in this book since a complete grasp of the subject requires an understanding of the aims and concerns of both sides. There are few things more discouraging for a government s national oil company than an unsuccessful licensing round. Yet prolonged, inconclusive negotiations can be equally frustrating for oil companies. This book has been written for those interested in petroleum taxation and international negotiations, and the way to carry out successful exploration and development projects. Much of the subject has evolved years ago whilst some aspects of taxation are timeless. Examples are included to give the reader a wide perspective about the implementation of fiscal systems. The terminology has changed over the years and will continue to develop. There is little standardisation of terms in the industry and the abundance of jargon can be rather daunting. The subjects covered in this book are often simple concepts wrapped up with industry and legal jargon. A glossary is provided to help with this. Much of the material provided [...]
Petroleum Fiscal Systems
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Author : E. T. Jarlsby
language : en
Publisher: Pennwell Books
Release Date : 2018
Petroleum Fiscal Systems written by E. T. Jarlsby and has been published by Pennwell Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Petroleum industry and trade categories.
The book reviews the various instruments which may form the petroleum fiscal system of a jurisdiction, with numerous examples from countries having configured their systems very differently.
World Fiscal Systems For Oil
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Author : Barrows (Firm)
language : en
Publisher:
Release Date : 1994
World Fiscal Systems For Oil written by Barrows (Firm) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Petroleum categories.
International Fiscal Systems For Oil
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Author : DataMetrics Limited
language : en
Publisher:
Release Date : 1986
International Fiscal Systems For Oil written by DataMetrics Limited and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with categories.
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
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
Petroleum Fiscal Systems And Production Sharing Contracts International
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Author : Rector Press, Limited
language : en
Publisher:
Release Date : 1995-07-01
Petroleum Fiscal Systems And Production Sharing Contracts International written by Rector Press, Limited and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-07-01 with categories.
Natural Resource Taxation In Mexico Some Considerations
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Author : Ms. Alpa Shah
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-18
Natural Resource Taxation In Mexico Some Considerations written by Ms. Alpa Shah 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 2021-10-18 with Business & Economics categories.
Mexico has large extractive industries and it traditionally has raised sizable fiscal revenues from the oil and gas sector. A confluence of factors—elevated commodity prices, financial challenges of the state-owned oil company Pemex, and revenue needs for financing social and public investment spending over the medium term—suggest that a review of Mexico’s taxation regimes for natural resources would be opportune, against the backdrop of a comprehensive approach to tackling Mexico’s challenges. This paper identifies opportunities for redesigning mining taxation to increase somewhat the revenue intake while maintaining the favorable investment profile of the sector. It also discusses recent reforms to the oil and gas fiscal regime and future reform considerations, with attention to the attractiveness of investment on commercial terms—an issue that should be placed in the context of an overall reform of Pemex’s business strategy and possibly of the energy sector more generally.
Gas Oil And The Irish State
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Author : Amanda Slevin
language : en
Publisher: Manchester University Press
Release Date : 2016-07-22
Gas Oil And The Irish State written by Amanda Slevin and has been published by Manchester University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-22 with Social Science categories.
Gas and oil are pivotal to the functioning of modern societies, yet the ownership, control, production and consumption of hydrocarbons often provokes intense disputes with serious ramifications. Gas, oil and the Irish state examines the dynamics and conflicts of state hydrocarbon management and provides the first comprehensive study of the Irish model. Interpreting the Corrib gas conflict as a microcosm of the Irish state's approach to hydrocarbon management, the book articulates environmental, health and safety concerns underpinning community resistance to the project. It emphasises how the dispute exposed broader issues, such as the privatisation of Irish hydrocarbons in exchange for one of the lowest rates of government take in the world, and served to problematise how the state functions, its close relationship with capital and its deployment of coercive force to repress dissent. Analysis of these issues occurs within an original account of decision-making and policy formation around Irish hydrocarbons from 1957 to 2014. The book traces the development of the state's approach in tandem with occurrences in Irish political economy and examines the impact of global trends on different approaches to hydrocarbon management. A comparative case study of Norway reveals ideological, political, social and economic forces which influence how states manage their hydrocarbons - factors which the book uses as the basis for a rigorous critique of the Irish model.