Country Report
Morocco upstream fiscal summary
Report summary
Upstream licences in Morocco are awarded under concession terms which are governed by the 2003 hydrocarbon law and 2014 petroleum agreement. The application and awarding of licences are done on an ad hoc basis. Royalty rates vary by location and oil/gas, with an initial volume exempt from royalty. Corporate income tax is levied at 31% with a 10 year tax holiday. State-owned L'Office national des Hydrocarbures et des Mines (ONHYM) participates in an exploration agreement or commercial discovery development with an equity stake of up to 25%.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect Taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- Corporate income tax
- Ring fencing
- Base
- Rate
- Payment schedule
- Additional petroleum tax (National Solidarity Levy)
- 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 22 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 and minimum state share
- Maximum government share - onshore, oil
- Maximum government share - shelf/deepwater, oil
- Maximum government share - onshore, gas
- Maximum government share - shelf/deepwater, 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
- Royalty rates
- National Solidarity Levy
- Assumed terms by location - oil
- Assumed terms by location - Gas
What's included
This report contains:
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