Country Report
Iceland 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
Iceland’s concession regime includes an Extraction Levy, a Special Hydrocarbon Tax and Corporate Income Tax. All tax terms are fixed and are ring-fenced at the field level. The Special Hydrocarbon Tax rate increases in relation to a profit ratio. Permits are awarded through licensing rounds and the government has the right to participate. Norway also has the right to participate in any license awarded within the agreement zone on the continental shelf.
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
- Additional petroleum taxes
- Ring fencing
- 10 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 Barrel - oil
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Split of barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate and minimum state shareMaximum government share and maximum state shareState share versus Pre-Share IRR - oilState share versus Pre-Share IRR - gasInvestor IRR versus Pre-Share IRR - oilInvestor IRR versus Pre-Share IRR - gas
- 4 more item(s)...
What's included
This report contains:
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