Country Report
Sierra Leone upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Upstream petroleum licences are awarded under concession terms, governed by the Petroleum (Exploration and Production) Act 2011 and the Extractive Industries Revenue Act 2018. Petroleum licences may be awarded through bids submitted via competitive bid rounds or direct negotiations. The state is entitled to an initial carried interest of at least 10%. Royalty rates are 10% for oil and 5% for gas. The income tax rate is 30% for petroleum operations. A Petroleum Resource Rent Tax (PRRT) is payable at 40% over the IRR threshold of 15%.
Table of contents
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- Corporate income tax
- 13 more item(s)...
- 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 the following images and tables:
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TimelineSplit of the barrel - oil
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Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate and minimum state shareMaximum government share and maximum state shareState share versus Pre-Share IRR - oilState share versus Pre-Share IRR - gas
- 5 more item(s)...
What's included
This report contains:
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