Country Report

Hungary upstream fiscal summary

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04 July 2018

Hungary upstream fiscal summary

Report summary

Hungary’s concession-based fiscal regime is relatively simple. The main elements include a royalty, corporate income tax and an additional profits tax (the Solidarity tax). Royalty is a biddable term and varies with production rates. Corporate income tax includes a one year tax holiday and is ring-fenced at the country level. There are also local business and indirect taxes. There is no state participation.

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Ring fencing
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • Additional petroleum taxes
    • Corporate income tax
    • Product pricing
    • Summary of modelled terms
  • 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 15 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 - onshore , oil and gas
  • Maximum government share – onshore, 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
  • Bonuses, rentals and fees
  • Indirect taxes
  • Assumed terms by location

What's included

This report contains:

  • Document

    Hungary upstream fiscal summary

    PDF 878.96 KB