Country Report
Ukraine upstream fiscal summary
Report summary
Ukraine’s concession regime forms the basis of our analysis. However, the government does offer Production Sharing Contracts (PSCs) to investors. A subsoil use tax (SUT) and corporate income tax form the main elements of the Ukraine concession system. The SUT behaves like a standard royalty and varies depending on hydrocarbon type, reservoir depth and shore status. We expect Ukraine to offer regular bid rounds alongside open-door policy for awarding new licences. The state does not have a mandatory equity participation in the concession regime.
Table of contents
- Basis
-
Licence terms
- Duration
- Relinquishment
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty- Subsoil Use Tax (SUT)
- Ring fencing
- Base
- Rate
- Liquids
- Gas
- Payment schedule
- Corporate income tax
- Ring Fencing
- Base
- Losses
- 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 25 images and tables including:
- Timeline
- Timeline detail
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - onshore, oil
- Effective royalty rate - shelf/deepwater, oil
- Effective royalty rate - onshore, gas
- Effective royalty rate - shelf/deepwater, gas
- Maximum government share – onshore, oil
- Maximum government share – shelf/deepwater, oil
- Maximum government share – onshore, gas
- Maximum government share – shelf/deepwater, 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
- Subsoil use tax rates for oil/condensate
- Subsoil use tax rates for gas
- Suboil use tax rates for oil and gas
- Assumed terms by location - oil and gas
What's included
This report contains:
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