Country Report

Serbia upstream fiscal summary

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28 June 2018

Serbia upstream fiscal summary

Report summary

Concession-based fiscal regime where taxes are paid in Royalties and Corporate Income Tax. Overall the Upstream tax level is very low, with Excise Taxes and VAT making up the bulk of government revenue.

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
    • Fiscal terms
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • 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 18 images and tables including:

  • Revenue flowchart - Serbia Concession
  • Timeline
  • Timeline detail
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate - onshore, oil
  • Effective royalty rate - onshore, gas
  • Maximum government share – onshore, oil
  • Maximum government share – onshore, gas
  • State share versus pre-share IRR - oil
  • State share versus pre-share IRR - gas
  • Bonuses, rentals and fees
  • Indirect taxes
  • Assumed terms by location - oil and gas
  • Economic analysis: Image 7
  • Investor IRR versus pre-share IRR - gas

What's included

This report contains:

  • Document

    Serbia upstream fiscal summary

    PDF 282.88 KB

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