Country Report
Italy upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Italy’s upstream licences are awarded under concession terms. The main elements are a royalty and corporate income tax. There is also a regional income tax applied to onshore operations. The royalty rate depends on the permit location and hydrocarbon type. An initial volume of production is exempt from royalty each year. Corporate income tax changes have been implemented by the government on a regular basis. Companies can apply for available acreage at any time and there is no state participation.
Table of contents
- Basis
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Licence terms
- Duration
- Relinquishment
- Government equity participation
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Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Ring fencing
- Corporate income tax
- Ring fencing
- Base
- 5 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
Tables and charts
This report includes the following images and tables:
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TimelineTimeline detailsSplit of the barrel - oil
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Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate - onshore, oilEffective royalty rate - shelf/deepwater, oilEffective royalty rate - onshore/shelf/deepwater, gasMaximum government share - onshore. oil and gasMaximum government share - shelf/deepwater, oilMaximum government share - shelf/deepwater, gas
- 10 more item(s)...
What's included
This report contains:
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