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Country Report

Burundi upstream fiscal summary

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25 May 2023

Burundi upstream fiscal summary

Report summary

Relatively simple Concession-based fiscal regime. Burundi has no active hydrocarbon legislation and our fiscal model is based on the Mining Codes of 2013 and 1976. The 1976 Mining code does not separate mining and hydrocarbons and still apply to petroleum sector. Licences are issued through direct negotiation with the government. Royalty rates are fixed and the basic rate is set at 7%. Corporate income tax is levied at a 30% rate.

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Ring fencing
    • Royalty
    • Corporate income tax
    • Product pricing
  • 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 15 images and tables including:

  • Timeline
  • Timeline details
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate and minimum state share - onshore/shelf/deepwater
  • Maximum government share and maximum state share - onshore/shelf/deepwater
  • 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
  • Summary of modelled terms

What's included

This report contains:

  • Document

    Burundi upstream fiscal summary

    PDF 918.94 KB