Country Report

Poland upstream fiscal summary

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Report summary

Very simple concession-based fiscal regime, comprising fixed royalty and corporate income tax, together with some indirect taxes.  An additional profits tax called Special tax was abolished in 2007.  There is no state participation. Gas price reform is a condition of accession to the EU, and it is expected that domestic prices should match import prices by around 2012.  This is likely to depend on market conditions.   The barrel = lifetime revenue / field reserves. Profit = revenue –...

What's included

This report contains

  • Document

    Poland upstream fiscal summary

    PDF 280.93 KB

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • Additional petroleum taxes
      • Corporate income tax
      • 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
    • Investor IRR versus pre-share IRR - oil

Tables and charts

This report includes 24 images and tables including:

Tables

  • Timeline detail
  • Effective royalty rate - onshore/shelf , oil
  • Effective royalty rate - onshore/shelf , gas
  • Maximum government share - onshore/shelf , oil
  • Maximum government share - onshore/shelf , gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Royalty
  • Current licence, equity and fiscal terms: Table 4
  • Special hydrocarbon tax
  • Assumed terms by location - oil
  • Assumed terms by location - gas

Images

  • Revenue flowchart: Poland Concession
  • Timeline
  • Split of the barrel - oil
  • Economic analysis: Image 2
  • Economic analysis: Image 3
  • Economic analysis: Image 4
  • State share versus pre-share IRR - oil
  • State share versus pre-share IRR - gas
  • Economic analysis: Image 7
  • Investor IRR versus pre-share IRR - gas
  • Royalty
  • Special hydrocarbon tax

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