Country Report
Canada (Newfoundland and Labrador) upstream fiscal summary
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Report summary
Simple concession-based fiscal regime. The 2007 Energy Plan stated that the government of Newfoundland and Labrador would take 10% equity in all future projects via Nalcor Energy (it is expected that Nalcor would take up its equity at the development plan approval stage and would negotiate payment of its share of exploration costs and pre-development costs incurred). Royalty is levied on a two tier system, basic royalty and net royalty, according to a sliding scale at rates linked to...
What's included
This report contains
Table of contents
- Executive summary
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Current licence, equity and fiscal terms
- Basis
- The following summary and model assumptions are based on standard terms recorded as per the time of publication.
- Licence terms
- Government equity participation
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Fiscal terms
- Ring fencing
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Bonuses, rentals and fees
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Indirect taxes
- VAT/Sales Taxes
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Royalty
- Onshore royalty
- Super-royalty
- Federal income tax
- Provincial income tax
- Product pricing
- Summary of modelled terms
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Indirect taxes
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Fiscal stability
- Recent history of fiscal changes
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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 - Onshore, Oil
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes 22 images and tables including:
Tables
- Bonuses, rentals and fees
- Timeline details
- Effective royalty rate and minimum state share - Offshore, Oil
- Effective royalty rate and minimum state share - Gas
- Assumed terms by location - oil
- Economic analysis: Table 3
- Maximum government share and maximum state share - Offshore, Oil
- Maximum government share and maximum state share - Gas
- Royalty rate - Oil onshore
- Royalty rate - Oil offshore
- Royalty rate - Gas
Images
- Revenue flowchart: Newfoundland 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
- Current licence, equity and fiscal terms: Image 1
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