All current production falls under the Concession regime, although the government defined the fiscal terms for Production Sharing Contracts (PSCs). Concessions pay royalty, sales tax, excise tax, property tax and corporate income tax of 10%. They are exempt from export duty, unlike PSCs. The PSC terms are negotiable. Profit oil splits vary between 60:40 and 80:20, in favour of the state. Signature and production bonuses are negotiable. The state (via Kyrgyz Petroleum Company) may participate in the projects, and it is generally accepted that foreign investors and joint ventures can negotiate substantial tax privileges.