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Concession-based fiscal regime. Signature bonuses are payable and are used as the basis of awarding leases. The contractor pays royalty on both oil and gas production, and federal and provincial income taxes. Following the recommendations of the Alberta Royalty Review Panel in September 2007, the Albertan government published its conclusions on a new royalty framework in October 2007, which came into effect on 1 January 2009. Under the new system for the conventional regime,...
Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.
This country report gives an overview of the key fiscal issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream fiscal summary report is your definitive commercial guide.
Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.
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Freehold mineral tax (FMT) is charged on freehold land in an attempt to equalise the value of freehold and crown production to both producer and government. FMT is calculated from the aggregate of tax payable for each component of production for each well on a petroleum and natural gas right. Calculation of each well component is based on the following formulae for liquids and gas respectively.
Federal income tax
Provincial income tax
Product pricing
Summary of modelled terms
Fiscal stability
Recent history of fiscal changes
Stability provisions
Economic analysis
Split of the barrel and share of profit
Effective royalty rate and maximum government share
Maximum government share and maximum state share
Maximum government share – onshore, oil
Progressivity
Fiscal deterrence
In this report there are 23 tables or charts, including:
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Country report | Mar 2017
Canada (Alberta) upstream fiscal summary
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