Country Report
Seychelles upstream fiscal summary
Report summary
Concession regime based governed by the Seychelles Petroleum (Taxation) Act 2008 (amended in 2013) including royalties, income tax and a Petroleum Additional Profits Tax. A 10% royalty is applied for oil and 5% for gas. Oil royalties may be reduced to 5% for marginal fields. The Petroleum Additional Profits Tax is payable on a sliding scale, linked to the contractors rate of return, and is a biddable item. Corporate income taxes are also payable, at the standard rate of 35%.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- 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
Tables and charts
This report includes 17 images and tables including:
- Timeline
- Timeline details
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate and minimum state share
- Maximum government share and maximum state share
- 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
- Bonuses, rentals and fees
- Indirect taxes
- Assumed terms by location
What's included
This report contains:
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