Country Report
Faroe Islands 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
Upstream licences in Faroe Islands are awarded under concession terms through licensing rounds or direct applications for licencing. Within the concession terms contractors pay corporate income tax and an additional profits tax which varies with project profitability. The special tax is ring-fenced at the field level with corporate income tax at the company level. There is no government equity participation.
Table of contents
- Basis
-
Licence terms
- Duration
- Relinquishment
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Corporate income tax
- Ring fencing
- Base
- Rate
- Additional petroleum taxes
- Special Petroleum Tax (SPT)
- 2 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
Tables and charts
This report includes the following images and tables:
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TimelineTimeline detailsSplit of the barrel - oil
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Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate and minimum state shareMaximum government share – deepwater/shelf, oil and gasState share versus Pre-Share IRR - oilState share versus Pre-Share IRR - gasInvestor IRR versus Pre-Share IRR - oilInvestor IRR versus Pre-Share IRR - gas
- 4 more item(s)...
What's included
This report contains:
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