Country Report
South Africa upstream fiscal summary
Report summary
Concession-based fiscal regime. The state has the option to participate in upstream developments, through PetroSA, with an interest of up to 10%. There is also a maximum 10% farm-in provision for Black Economic Empowerment (BEE) companies at pre-defined commercial terms. Relatively straightforward royalty/tax system although the mechanics of the royalty calculation are unusual compared to most petroleum fiscal systems. Licences are typically awarded on an ad-hoc basis and the vast majority of the active blocks were awarded through direct negotiations.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate
- Payment schedule
- Corporate income tax
- Ring fencing
- Base
- Rate
- Payment schedule
- 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 15 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:
Other reports you may be interested in
Country Report
Malaysia upstream fiscal summary
Detailed analysis of the fiscal system applicable to new licences.
$1,650
Country Report
Namibia upstream fiscal summary
Detailed analysis of the fiscal system applicable to new licences.
$1,650
Country Report
Mexico upstream fiscal summary
Detailed analysis of the fiscal system applicable to new licences.
$1,650
