Country report

Philippines upstream fiscal summary

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Report summary

The upstream regime in the Philippines is a straight forward Production Sharing Contract (PSC) despite being called service contracts. There is a fixed cost recovery ceiling and production sharing splits. Depending upon the level of participation of Filipino companies in the contract contractors can recover up to additional 7.5% of gross revenues as part of their cost recovery. Corporate income tax is generally paid on behalf of the contractor by the Government with few exception...

What's included

This report contains

  • Document

    Philippines upstream fiscal summary

    PDF 332.69 KB

Table of contents

  • Executive summary
  • Current licence, equity and fiscal terms
  • Fiscal stability
  • Economic analysis

Tables and charts

This report includes 18 images and tables including:

Images

  • Revenue flowchart: Philippines PSC
  • Fiscal stability: Image 1
  • Split of Barrel - oil
  • Split of barrel - gas
  • Share of profit - oil
  • Share of profit - 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

Tables

  • Fiscal stability: Table 1
  • Effective royalty rate and minimum state share
  • Maximum government share and maximum state share
  • Bonuses, rentals and fees
  • Indirect taxes
  • Current licence, equity and fiscal terms: Table 3
  • Summary of modelled terms
  • Current licence, equity and fiscal terms: Table 4

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