Country Report

Kyrgyzstan upstream fiscal summary

04 July 2018

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04 July 2018

Kyrgyzstan upstream fiscal summary

Report summary

The government has defined the fiscal terms that could be applied in a Production Sharing Contract (PSC) or joint venture (concessions) in legislation. Most PSC terms were covered under Decree 308 (1993). Certain fiscal terms have been negotiated to provide beneficial treatment of the KPC joint venture, and it is generally accepted that foreign investors and joint ventures can negotiate substantial tax privileges. The Production Sharing Contract (PSC) terms are negotiable, although a...

Executive summary
Current licence, equity and fiscal terms
- Basis
- Licence terms
- Government equity participation
- Fiscal terms
  - Ring fencing
  - Bonuses, rentals and fees
  - Indirect taxes
  - Royalty
  - Corporate income tax
  - Product pricing
  - Summary of modelled terms
Fiscal stability
- Recent history of fiscal changes
- Stability provisions
Economic analysis
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
- Investor IRR versus pre-share IRR - oil