Democratic Republic of Congo upstream fiscal summary Report

Country Report 27 July 2023

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Report summary

The Petroleum Law introduced in 2015 states that all future licences will be production sharing contracts (PSCs), and will be awarded via licensing rounds. No contracts have been signed under the 2015 Petroleum Law and it is still in the bidding phase. The Petroleum Law splits the country up into yet-to-be-defined zones (A, B, C, and D). The actual tax rates are biddable and will be defined via competitive tender in the licensing rounds. The new PSC comprises royalty, super profit oil (SPO), cost recovery, excess cost oil, and profit share. State equity is minimum 20%. Corporate income tax (CIT) will be paid by the government.

Basis
Licence terms
Government equity participation
Fiscal terms
- Ring fencing
- Bonuses, rentals, fees
- Indirect taxes
- Royalty
- PSC cost recovery
- Base
- Cost recovery ceiling
- Recoverable costs
- 14 more item(s)...
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