Country Report

Hungary upstream fiscal summary

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04 July 2018

Hungary upstream fiscal summary

Report summary

Simple Concession-based fiscal regime.  Royalty rates vary with production rates.  In addition to corporate income tax, there is an additional profits tax (the Solidarity tax) plus some local business taxes and indirect taxes.  There is no state participation. In 2010, the corporate income tax rate was increased from 16% to 19%. However, the 4% solidarity surtax was abolished. Also from 2010, financial enterprises are entitled to carry forward their tax losses.   Split of...

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government 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
    • 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
    • Investor IRR versus pre-share IRR - oil

Tables and charts

This report includes 16 images and tables including:

  • Revenue flowchart: Hungary Concession
  • Timeline
  • Timeline details
  • Split of the barrel - oil
  • Economic analysis: Image 2
  • Economic analysis: Image 3
  • Economic analysis: Image 4
  • 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
  • Economic analysis: Image 7
  • 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 262.09 KB

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