Country Report
Ireland upstream fiscal summary
Report summary
The Irish government has outlined legislation to prohibit licences for new oil and gas exploration. No new applications will be accepted and there will be no future licensing rounds. The most recent licences operate under a relatively simple concession system. The main elements are a Petroleum Production Tax (PPT) and corporate income tax. The PPT is determined by an R-factor with a minimum annual payment. PPT is deductible for calculating corporate income tax.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Additional petroleum taxes
- Petroleum Production Tax
- Corporate income tax
- Solidarity contribution
- Ring fencing
- Base
- Rate
- Payment schedule
- 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 19 images and tables including:
- Licence Terms
- Timeline
- Timeline details
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate and minimum state share
- Maximum government share and maximum state share
- 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 and Fees
- Area Rentals
- Application Fees
- Indirect Taxes
- R Factor
- Ireland Concession Terms
What's included
This report contains:
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