Country Report
Croatia upstream fiscal summary
Report summary
The Croatian government introduced its current model PSC in 2014, as it launched its first licensing rounds. The PSC features relatively simple fiscal terms, including royalty and corporate income tax. Contractor profit sharing is based on an R-factor. There is no state equity participation required other than INA's working interest in a project. There are legacy concession and PSC contracts that apply to onshore and offshore production, respectively
Table of contents
- Basis
-
Licence terms
- Duration
- Relinquishment
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- PSC production sharing
- Ring fencing
- PSC cost recovery
- Base
- Rate (cost recovery ceiling)
- Recoverable costs
- Unrecovered costs
- PSC profit sharing
- Base
- Rate
- Payment schedule
- Corporate income tax
- Ring fencing
- Base
- Deductions
- Rate
- Payment schedule
- Extra profit tax (solidarity contribution)
- Ring fencing
- Base
- Rate
- Payment schedule
- Fiscal treatment of decommissioning costs
- 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 20 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 - oil and gas
- Effective royalty rate - oil and gas
- Maximum government share – oil and gas
- Maximum government share – oil and 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 and fees
- Area rentals
- Indirect taxes
- Profit sharing R-factor rates
- Contractor profit share (oil and gas)
- Assumed terms by location - oil and gas
What's included
This report contains:
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