Country report

Cyprus upstream fiscal summary

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Report summary

Contracts in Cyprus are in the form of Production Sharing Contracts. The rate of corporate tax in Cyprus is 10%. Within the PSC framework the amount of corporate tax due will be included in the Government's share of profit oil. The contractor will therefore have an effective corporate tax rate of 0%. In February 2007 the First Cyprus Offshore Licensing round was launched. In February 2012 the Second Cyprus Offshore Licensing round was launched with all unlicensed blocks on...

What's included

This report contains

  • Document

    Cyprus upstream fiscal summary

    PDF 353.04 KB

Table of contents

  • Executive summary
  • Current licence, equity and fiscal terms
  • Fiscal stability
  • Economic analysis

Tables and charts

This report includes 17 images and tables including:

Images

  • Revenue flowchart: Cyprus PSC
  • 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

Tables

  • Timeline details
  • Effective royalty rate and minimum state share
  • Maximum Government Share and maximum state share
  • Indirect taxes
  • Cyprus PSC Terms
  • Bonuses, rentals and fees
  • Profit Share

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