Country Report

Ireland upstream fiscal summary

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04 July 2018

Ireland upstream fiscal summary

Report summary

Ireland’s concession regime is relatively simple. The main element is a Petroleum Production Tax (PPT) and corporate income tax. The PPT replaced the Profit Resource Rent Tax in 2014 and is calculated on a field's net income at a rate that is determined by an R-factor ratio. It is also deductible for calculating corporate income tax. There are also several rental fees and indirect taxes. Corporate income tax is ring-fenced within upstream activities at the company level.

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Ring fencing
    • Bonuses, rentals and fees
    • Royalty
    • Indirect taxes
    • Additional petroleum taxes
    • Petroleum Production Tax
    • 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 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:

  • Document

    Ireland upstream fiscal summary

    PDF 911.82 KB

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