Country Report
Dominican Republic upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
All licences in the Dominican Republic operate under a PSC regime. Blocks are awarded during licensing rounds. The first licensing round took place in November 2019. There are no biddable or negotiable fiscal terms at present. The fiscal regime consists of royalty, corporate income tax and minimum state profit share. Separate royalty rates for oil and gas are linked to production and price and depend on shore status. Rates vary between 3% and 25% for oil and between 2% and 8% for gas. Contracts have stability clauses protecting them against royalty rate changes. Corporate income tax is charged at the standard rate of 27%. The Minimum Participation Tax, which guarantees Government a minimum profit share of 40%, is calculated based on a ratio of cumulative undiscounted profits to cumulative Government share.
Table of contents
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- State Shared Income (Royalty)
- Corporate income tax
- Minimum Participation Tax
- Fiscal treatment of decommissioning
- Summary of modelled terms
- Stability provisions
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Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes the following images and tables:
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Split of the barrel - oilSplit of the barrel - gasShare of profit - oil
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Share of profit - gasArea RentalsOnshore liquids SSI ratesOffshore liquids SSI ratesOnshore liquids SSI ratesOffshore liquids SSI ratesOnshore gas SSI ratesOffshore gas SSI ratesOnshore gas SSI rates
- 19 more item(s)...
What's included
This report contains:
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