Country Report

Denmark upstream fiscal summary

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11 October 2018

Denmark upstream fiscal summary

Report summary

Danish licences operate under a concession fiscal regime. The fiscal terms are not biddable or negotiable. The current fiscal regime comprises corporate income tax and an additional profits tax, known as the hydrocarbon tax. In 2017, the parliament approved incentives such as a higher capital uplift and an accelerated depreciation for capital costs. The Danish state holds a 20% equity stake in all new licences via Nordsoefonden.

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Royalty
    • Corporate income tax (Hydrocarbon Chapter 2 corporate income tax)
    • Ring fencing
    • Base
    • Rate
    • Payment schedule
    • Additional petroleum tax (Hydrocarbon Chapter 3A hydrocarbon tax)
    • Ring fencing
    • Base
    • Rate
    • Payment schedule
    • 2017 HT incentives
    • 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 17 images and tables including:

  • Bonuses, rentals and fees
  • Indirect Taxes
  • 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
  • Maximum government share and maximum state share
  • 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
  • Depreciation schedule
  • Surtax
  • Denmark Concession

What's included

This report contains:

  • Document

    Denmark upstream fiscal summary

    PDF 898.56 KB

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