Country Report
Namibia upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Concession-based fiscal regime, governed by the 1991 Petroleum Act and based on the 2007 model contract. Royalty and Petroleum Income Tax (PIT) rates are fixed and payable by the contractor. There is an additional profits tax (APT) payable on a sliding scale, linked to contractor's rate of return. First tranche of APT is defined in the law to be 25% between rates of return 15 to 20%. The second (20-25% IRR) and third (>25% IRR) tranches are negotiable. There is no mandatory state participation, but the state oil company NAMCOR may negotiate an interest as part of the licence award process.
Table of contents
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- 13 more item(s)...
- 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 the following images and tables:
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TimelineTimeline detailsSplit of the barrel - oil
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Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate and minimum state share - onshore/shelf/deepwaterMaximum government share and maximum state share - onshoreMaximum government share and maximum state share - shelf/deepwaterState share versus Pre-Share IRR – oilState share versus Pre-Share IRR - gasInvestor IRR versus Pre-Share IRR - oil
- 8 more item(s)...
What's included
This report contains:
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