Country Report

Israel upstream fiscal summary

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04 July 2018

Israel upstream fiscal summary

Report summary

Very simple Concession fiscal regime, with royalty and corporate income tax payable. An additional profits levy was enacted in 2010 following the discovery of the Tamar and Leviathan fields. A moratorium on new license awards, imposed in after very large gas discoveries, was lifted in 2016 and the first offshore license round was launched. Awards are expected in late 2017.

Table of contents

  • Executive summary
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Windfall profit levy
      • Corporate income tax
      • Fiscal treatment of decommissioning
      • 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 20 images and tables including:

  • Revenue flowchart - Israel Concession
  • Timeline
  • Fiscal stability: Table 1
  • 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 - Oil
  • Effective royalty rate and minimum state share - Gas
  • Maximum government share – oil
  • Maximum government share – 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
  • Windfall profits levy
  • Assumed terms by location - oil
  • Assumed terms by location - gas

What's included

This report contains:

  • Document

    Israel upstream fiscal summary

    PDF 302.90 KB