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Turkey Upstream Fiscal and Regulatory Report-Corporate Income Tax Increases to 22% for 2018 to 2020

Published By :

GlobalData

Published Date : Feb 2018

Category :

Power

No. of Pages : 16 Pages

Turkey Upstream Fiscal and Regulatory Report - Corporate Income Tax Increases to 22% for 2018 to 2020

Summary

"Turkey Upstream Fiscal and Regulatory Report - Corporate Income Tax Increases to 22% for 2018 to 2020", presents the essential information relating to the terms which govern investment into Turkeys upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the states take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Turkeys upstream oil and gas investment climate.

Scope

- Overview of current fiscal terms governing upstream oil and gas operations in Turkey
- Assessment of the current fiscal regimes state take and attractiveness to investors
- Charts illustrating the regime structure, and legal and institutional frameworks
- Detail on legal framework and governing bodies administering the industry
- Levels of upfront payments and taxation applicable to oil and gas production
- Information on application of fiscal and regulatory terms to specific licenses
- Outlook on future of fiscal and regulatory terms in Turkey

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Turkeys upstream oil and gas sector
- Evaluate factors determining profit levels in the industry
- Identify potential regulatory issues facing investors in the countrys upstream sector
- Utilize considered insight on future trends to inform decision-making
1 Table of Contents
1 Table of Contents 1
1.1. List of Tables 2
1.2. List of Figures 2
2. Regime Overview 3
3. State Take Assessment 5
4. Key Fiscal Terms 6
4.1. Royalties, Bonuses and Fees 6
4.1.1. Rental Fees 6
4.1.2. Royalties 6
4.2. Direct Taxation 7
4.2.1. Corporate Income Tax 7
4.2.2. Deductions and Depreciation 7
4.2.3. Withholding Tax 8
4.3. Indirect Taxation 8
4.3.1. Value Added Tax 8
4.3.2. Stamp Duties 8
4.3.3. Real Estate Tax 8
4.3.4. Customs Duties 8
5. Regulation and Licensing 9
5.1. Legal Framework 9
5.1.1. Governing Law 9
5.1.2. Contract Type 10
5.1.3. Title to Hydrocarbons 10
5.2. Institutional Framework 11
5.2.1. Licensing Authority 11
5.2.2. Regulatory Agency 11
5.2.3. National Oil Company 12
5.3. Licensing Process 12
5.3.1. Licensing Rounds 12
5.3.2. Pre-qualification 12
5.3.3. Bidding 12
5.4. License Terms 12
5.4.1. Duration and Relinquishments 12
5.4.2. Work Obligation 13
5.5. Local Content 13
5.6. Contract Stability 13
6. Outlook 14
7. Appendix 15
7.1. Contact Us 15
7.2. Disclaimer 15

1.1 List of Tables
Table 1: Regime Overview 3
Table 2: Turkey, Annual Rental Fees, Licenses Granted Prior to June 11, 2013 6
Table 3: Turkey, Corporate Income Tax 7

1.2 List of Figures
Figure 1: Turkey, Regime Flow Chart 4
Figure 2: Turkey, Indicative NPV10/boe, IRR and State Take Comparison, Regional 5
Figure 3: Turkey, Legal Framework 9
Figure 4: Turkey, Institutional Framework 11

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