Country report

Brazil upstream fiscal summary

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Report summary

Complex Concession based fiscal regime. In addition to royalty and corporate income tax an additional profits tax (called the Special Participation Tax or SPT) is payable. SPT varies with time location and production rates. A key issue in Brazil is that a range of indirect taxes are payable and are very complex both at the federal state and local level adding on average around 15% to project investments and costs. The total tax burden from indirect taxes varies greatly from...

What's included

This report contains

  • Document

    Brazil upstream fiscal summary

    PDF 496.47 KB

Table of contents

  • Executive summary
  • Current licence, equity and fiscal terms
  • Fiscal stability
  • Economic analysis

Tables and charts

This report includes 37 images and tables including:

Images

  • Concession Flowchart
  • PSC Flowchart
  • Timeline
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • State share versus Pre-Share IRR - oil
  • State share versus Pre-Share IRR - 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
  • Investor IRR versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - gas
  • Government Profit Share differential by production and price per bbl
  • Marginal SPT rates: Onshore
  • Marginal SPT rates: Offshore <400m
  • Current licence, equity and fiscal terms: Image 4
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas

Tables

  • Fiscal stability: Table 1
  • Effective royalty rate - onshore
  • Effective royalty rate - offshore
  • Effective royalty rate
  • Maximum government share - onshore
  • Maximum government share - offshore
  • Maximum government share
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty rates
  • Profit sharing
  • Assumed terms by location - onshore
  • Assumed terms by location - offshore
  • Assumed terms by location - PSC

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