Country Report
Hungary 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
Hungary’s concession-based fiscal regime is relatively simple. The main elements include a royalty (extra profit tax), corporate income tax, and an additional profits tax (Energy Suppliers tax). Royalty is a biddable term but the government has set a minimum rate. The extra profit tax is levied via increased royalty rates for 2022 and 2023. Standard royalty rates apply from 2024. The energy suppliers tax has the same tax base as corporate income tax resulting in a marginal tax rate of 40%. Both are ring-fenced at the country level. There are also local business and indirect taxes. There is no state participation.
Table of contents
- Basis
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Licence terms
- Duration
- Relinquishment
- Government equity participation
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Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- Additional petroleum taxes
- 23 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 - onshore, oilEffective royalty rate - onshore, gasMaximum government share – onshore, oilMaximum government share – onshore, gasState share versus pre-share IRR - oilState share versus pre-share IRR - gas
- 9 more item(s)...
What's included
This report contains:
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