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Barbados upstream fiscal summary

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29 June 2018

Barbados upstream fiscal summary

Report summary

Concession fiscal regime with royalty, corporate income tax and an additional profits tax (APT).  The State-owned Barbados National Oil Company (BNOC) is guaranteed a maximum share of 25% in any license so long as it chooses to do so prior to the exploration license being awarded.  The State's interest is carried until a declaration of commerciality.  Royalty and income tax rates are fixed; APT is levied at 30% for a specified period on net profit whenever wellhead oil and gas prices exceed...

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Corporate income tax
      • Additional profits tax
      • Product pricing
      • Summary of modelled terms
    • Recent history of fiscal changes
    • Stability provisions
    • Split of the barrel and share of profit
    • Effective royalty rate and maximum government share
    • Progressivity
    • Fiscal deterrence

Tables and charts

This report includes 17 images and tables including:

  • Revenue flowchart: Barbados Concession
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - onshore, shelf and deepwater, oil and gas
  • Maximum government share – onshore, shelf and deepwater, oil and gas
  • State share versus Pre-Share IRR - oil
  • State share versus Pre-Share IRR - gas
  • Investor IRR versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Additional petroleum taxes - oil
  • Additional petroleum taxes - gas
  • Assumed terms by location - oil
  • Assumed terms by location - gas

What's included

This report contains:

  • Document

    Barbados upstream fiscal summary

    PDF 285.38 KB

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