Turkey upstream fiscal summary Report

Country Report 25 May 2023

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Report summary

Upstream licences in Turkey are awarded under concession terms. The system includes a royalty and corporate income tax. A flat-rate royalty is levied on both oil and gas. Companies can consolidate their upstream activities for income tax purposes. There are rentals and indirect taxes. Turkey has an open-door licensing policy, where companies can directly bid for open blocks. The national oil company has no mandatory participation rights in any licence.

Basis
Licence terms
- Duration
- Relinquishment
Government equity participation
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Ring fencing
- Rate
- Corporate income tax
- Ring fencing
- Base
- Rate
- Fiscal treatment of decommissioning
- 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