Country Report
Israel upstream fiscal summary
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.
Table of contents
- 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
- Ring fencing
- Base
- Rate
- Payment schedule
- Corporate income tax
- Ring fencing
- Base
- Rate
- Payment schedule
- 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:
- 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 - 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
- Sheshinski Levy Rate
- Windfall (Sheshinski) profits levy
- Assumed terms by location - oil
- Assumed terms by location - gas
What's included
This report contains:
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