Country Report
France upstream fiscal summary
Report summary
In 2017, the government introduced a moratorium banning the issue of new exploration licences. The existing concession regime includes a royalty, corporate income tax, solidarity contribution and local levies. Royalty rates and local levies vary with production and the vintage of a fields development. Offshore fields are exempt from royalty and local levies. Royalties and corporate income tax are ring fenced at the licence and company level respectively.
Table of contents
- Basis
-
Licence terms
- Duration
- Relinquishment
- Government equity participation
-
Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Payment schedule
- Local levies
- Ring fencing
- Base
- Rate
- Payment schedule
- Corporate income tax
- Ring fencing
- Base
- Income
- Deductions
- Rate
- Payment schedule
- Solidarity contribution
- Ring fencing
- Base
- Rate
- Payment schedule
- Product pricing
- Fiscal treatment of decommissioning
- 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 19 images and tables including:
- Timeline
- Timeline details
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - Oil
- Effective royalty rate - onshore, Gas
- Effective royalty rate - oil and gas
- Maximum government share - Onshore, Oil
- Maximum government share - Onshore, Gas
- Maximum government share - Oil and 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
- Indirect taxes
- Royalty rates
- Assumed terms by location - oil and gas
What's included
This report contains:
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