Ukraine upstream fiscal summary Report

Country Report 25 May 2023

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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.

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
- 9 more item(s)...
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