Country Report

France upstream fiscal summary

04 July 2018

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04 July 2018

France upstream fiscal summary

Report summary

Simple Concession fiscal regime, with royalty, corporate income tax and some local taxes. Royalty rates and local taxes vary with production rates and the vintage of the field development. Offshore fields are exempt from royalty and local taxes. Split of the Barrel The barrel = lifetime revenue / field reserves. Profit = revenue – costs from barrel charts. For further details see New Investment: Methodology. Source: Wood Mackenzie

Executive summary
Current licence, equity and fiscal terms
- Basis
- Licence terms
- Government equity participation
  - There is no state equity participation.
- Fiscal terms
  - Ring fencing
  - Bonuses, rentals and fees
  - Indirect taxes
  - Royalty
  - Additional petroleum taxes
  - Corporate income tax
  - Product pricing
  - Summary of modelled terms
Fiscal stability
- Recent history of fiscal changes
- Stability provisions
Economic analysis
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence