Country report
Canada (British Columbia) upstream fiscal summary
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Report summary
Concession-based fiscal regime. Signature bonuses are biddable and can vary significantly by area and play. Natural gas royalty is levied on gross gas revenue less a gas cost allowance at rates which vary according to the age of the well and gas price. Oil royalty is levied on gross oil revenue at rates which vary according to the age of the well and well productivity with an additional incentive if the price is, effectively, lower than $50/bbl. Federal and Provincial income taxes are...
What's included
This report contains
Table of contents
- Executive summary
- Current licence, equity and fiscal terms
- Licence terms
- Government equity participation
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Fiscal terms
- Ring fencing
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Bonuses, rentals and fees
- Bonuses, rentals and fees
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Indirect taxes
- VAT/Sales Taxes
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Royalty
- Generic Royalty
- Royalty rates - Heavy Oil
- Net Profit Royalty
- Net Profit Royalty rates
- Royalty credits
- Federal income tax
- Provincial income tax
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Additional Taxes
- Freehold production tax (FPT)
- Oil FPT Rate
- Gas FPT Rate
- Fiscal treatment of decommissioning
- Product pricing
- Summary of modelled terms
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Fiscal stability
- Recent history of fiscal changes
- Stability provisions
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Economic analysis
- Split of the barrel and share of profit
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Effective royalty rate and maximum government share
- Maximum government share and maximum state share - Oil
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes 28 images and tables including:
Images
- Revenue flowchart: British Columbia Concession
- 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
- Investor IRR versus Pre-Share IRR - oil
- Investor IRR versus Pre-Share IRR - gas
- Oil Royalty Rate
- Gas Royalty Rate
- Current licence, equity and fiscal terms: Image 3
- Current licence, equity and fiscal terms: Image 4
- Current licence, equity and fiscal terms: Image 5
Tables
- Assumed terms by location - oil and gas
- Timeline details
- Effective royalty rate - Oil
- Effective royalty rate - Gas
- Current licence, equity and fiscal terms: Table 1
- Royalty rates - Oil
- Current licence, equity and fiscal terms: Table 3
- Royalty rates - Gas
- Current licence, equity and fiscal terms: Table 5
- Current licence, equity and fiscal terms: Table 6
- Current licence, equity and fiscal terms: Table 7
- Economic analysis: Table 3
- Maximum government share and maximum state share - Gas
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