Country Report
Bulgaria upstream fiscal summary
Report summary
Bulgaria has a simple concessionary fiscal regime, with royalty rates varying by project profitability. In addition to corporate income tax, there are a few minor indirect taxes, rentals and fees. There is no state participation. The government licenses acreage via competitive bidding or direct negotiations. Royalties and corporate income tax are ring-fenced at the concession and country level respectively.
Table of contents
- Basis
-
Licence terms
- Duration
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Corporate income tax
- Ring fencing
- Base
- Rate
- Solidarity contribution
- Ring fencing
- Base
- Rate
- Payment schedule
- Fiscal treatment of decommissioning
- 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 16 images and tables including:
- Timeline
- Timeline detail
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - oil and gas
- Maximum government share – 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
- Royalty rates
- Assumed terms by location
What's included
This report contains:
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