Country Report
Canada (Nova Scotia) upstream fiscal summary
Report summary
Concession-based fiscal regime. Royalty is levied on a two tier system – gross royalty and net royalty. Gross royalty is levied on wellhead revenues at 2% until project payback and at 5% thereafter (project payback is determined on the basis of cumulative wellhead revenues less cumulative gross and net royalties less cumulative capital and operating costs less uplift less a return allowance). Net royalty is levied on net revenues at varying rates according to the project's IRR. Federal...
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Carbon taxes
- Federal income tax
- Provincial income tax
- Product pricing
- Summary of modelled terms
- Recent history of fiscal changes
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes 19 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, Oil
- Effective royalty rate and minimum state share - deepwater, Oil
- Maximum government share and maximum state share - Onshore/shelf, Oil
- Maximum government share and maximum state share - deepwater, Oil
- 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
- Royalty rates - Basic Royalty
- Royalty rates - Net Royalty
- Federal carbon tax history
- Assumed terms by location - oil
What's included
This report contains:
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