Country Report

Kyrgyzstan upstream fiscal summary

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01 January 2021

Kyrgyzstan upstream fiscal summary

Report summary

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.

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Bonuses, rentals and fees
    • Indirect taxes
    • Royalty
    • Ring fencing
    • Base
    • Rate
    • Payment schedule
    • Additional petroleum taxes
    • Base
    • Rate
    • Payment schedule
    • Base
    • Rate
    • Payment schedule
    • Ring fencing
    • Base
    • Rate
    • Payment schedule
    • Corporate income tax
    • Base
    • Rate
    • Payment schedule
    • Fiscal treatment of decommissioning costs
    • 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 15 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 - onshore , oil and gas
  • Maximum government share – onshore, oil and 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
  • Assumed terms by location

What's included

This report contains:

  • Document

    Kyrgyzstan upstream fiscal summary

    PDF 891.10 KB