Country Report
Japan upstream fiscal summary
Report summary
Upstream licences are awarded under concession terms which are fixed by legislation. Only general corporate income tax of 30.62% applies in the upstream. The fiscal terms are very unstable with corporate income tax changes implemented almost every year. However, since 2012 the CIT rate has been steadily decreasing. Given high domestic needs relative to supply, all production is required to be sold domestically.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Corporate income tax
- Ring fencing
- Base
- Rate
- Payment schedule
- Fiscal treatment of decommissioning
- Product pricing
- Domestic Market Obligation (DMO)
- 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 14 images and tables including:
- Timeline
- Timeline details
- Split of Barrel - oil
- Split of 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
- Indirect taxes
- Assumed terms by location - oil and gas
What's included
This report contains:
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