Country Report
Thailand 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
The fiscal regime in Thailand is governed by Concession and Production Sharing Contract (PSC) terms. Future licences and licence extensions will be taxed under Thai III (post-20th round) terms, PSCs and service contracts, depending on the amount of initial reserves and the location of the block. Under Concession terms, royalty rates range from 5-15% and are based on a sliding scale linked to production, with a discount applied to deepwater licences. The Special Remuneratory Benefit (SRB) is a tax with a unique calculation method. Its rates are based on the annual revenue and the cumulative metres of wells drilled in the concession area, with an adjustment for geological complexity. Corporate income tax of 50% is payable on profits. Under PSC terms, royalty is payable at 10% of gross revenue and cost recovery ceiling is set to 50%. Government profit share is biddable, with a minimum of 50%. Corporate income tax of 20% is also payable on profits.
Table of contents
- Basis
- Licence terms
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Government equity participation
- Concession
- PSC
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Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Base
- Rate (concession)
- Rate (PSC)
- Payment schedule
- 28 more item(s)...
- Recent history of fiscal changes
- Stability provisions
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Split of the barrel and share of profit
- Concession
- PSC
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Effective royalty rate and maximum government share
- Concession
- PSC
- Concession
- PSC
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Progressivity
- Concession
- PSC
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Fiscal deterrence
- Concession
- PSC
Tables and charts
This report includes the following images and tables:
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TimelineTimeline detailsBonuses, rentals and fees
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Indirect taxesRoyalty rates - concessionRoyalty rates (oil) - concessionRoyalty rates (gas) - concessionSRB rates (concession)SRB rates (concession)Assumed terms by location - concessionAssumed terms by location - PSCSplit of Barrel - oil
- 21 more item(s)...
What's included
This report contains:
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