Country Report
Turkey upstream fiscal summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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.
Table of contents
- 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
Tables and charts
This report includes 16 images and tables including:
- Timeline
- Timeline detail
- Split of Barrel - oil
- Split of barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - onshore, shelf and deepwater, oil and gas
- Maximum government share - onshore, shelf and deepwater, oil and gas
- 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
- Corporate income tax rate changes
- Assumed terms by location - oil and gas
What's included
This report contains:
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