Israel upstream fiscal summary Report

Country Report 25 May 2023

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Report summary

Upstream licenses are awarded as concession agreements. There is no national oil or gas company or mandated government share. The main fiscal terms are royalties, windfall profits levy and income tax, all of which are governed by law. The fiscal term structure remained stable until the discovery in 2009 and 2010 of the Tamar and Leviathan fields, at which time the windfall profits levy was introduced.

Basis
Licence terms
Government equity participation
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- Windfall (Sheshinski) profit levy
- 12 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