Country Report
Canada (British Columbia) upstream fiscal summary
Report summary
Concession-based fiscal regime. Signature bonuses are biddable and can vary significantly by area and play. Oil and gas royalty based on revenue minus cost framework. A flat rate is applied when the drilling cost has not bee recovered or during the first 12 month of production. Otherwise, price sensitive sliding scale formulae is applied. Federal and Provincial income taxes are fixed and consolidated at the company level. There is no state participation but negotiations are conducted directly with government.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Carbon taxes
- Federal income tax
- Ring fencing
- Base
- Income
- Deductions
- Rate
- Depreciation
- Payment schedule
- Provincial income tax
- Ring fencing
- Base
- Income
- Deductions
- Rate
- Payment schedule
- Additional Taxes
- Freehold production tax (FPT)
- Ring fencing
- Base
- Rate
- 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 26 images and tables including:
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - Oil
- Effective royalty rate - Gas
- Maximum government share and maximum state share - Oil
- Maximum government share and maximum state share - 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 – Oil
- Royalty rates – Gas
- Oil Royalty Rate
- Gas Royalty Rate
- British Columbia carbon tax history
- Oil FPT Rate
- Gas FPT Rate
- Assumed terms by location - oil and gas
- Timeline
- Timeline details
What's included
This report contains:
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