Country Report
Lithuania upstream fiscal summary
Report summary
Lithuania’s concession regime is relatively simple. The main elements are an additional petroleum tax and corporate income tax. The additional petroleum tax is effectively a royalty and consists of a flat basic rate and a compensatory rate based on any the use of state funding. Lithuania has no commercial gas reserves so all terms are related to oil. There is no state oil company and no mandated minimum state equity share.
Table of contents
- Basis
-
Licence terms
- Duration
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Additional petroleum tax
- Ring fencing
- Base
- Rate
- Payment schedule
- Corporate income tax
- Ring fencing
- Base
- Rate
- Payment schedule
- Fiscal treatment of decommissioning
- 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 18 images and tables including:
- Timeline
- Timeline details
- Split of the barrel - Oil
- Share of profit - Oil
- Split of the Mcf - Gas
- Share of profit - Gas
- Effective royalty rate - onshore, Oil & Gas
- Effective royalty rate - shelf, Oil & Gas
- Maximum government share – onshore, Oil & Gas
- Maximum government share – shelf, Oil & 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 - Oil
- Assumed terms by location - gas
What's included
This report contains:
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