Country Report

Kyrgyzstan upstream fiscal summary

01 January 2021

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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.

Basis
Licence terms
Government equity participation
Fiscal terms
- 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