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
Table of contents
- Executive summary
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Current licence, equity and fiscal terms
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Ring fencing
- Royalty
- Additional petroleum taxes
- Corporate income tax
- Product pricing
- Summary of modelled terms
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Fiscal stability
- Recent history of fiscal changes
- Stability provisions
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Economic analysis
- 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:
Images
- Revenue flowchart: Poland Concession
- Fiscal stability: Image 1
- 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
Tables
- Fiscal stability: Table 1
- Economic analysis: Table 1
- Economic analysis: Table 2
- Economic analysis: Table 3
- Economic analysis: Table 4
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Current licence, equity and fiscal terms: Table 4
- Special hydrocarbon tax
- Current licence, equity and fiscal terms: Table 6
- Current licence, equity and fiscal terms: Table 7
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