The Taxation of Petroleum and Minerals

The Taxation of Petroleum and Minerals
Author: Philip Daniel
Publisher: Routledge
Total Pages: 471
Release: 2010-04-15
Genre: Business & Economics
ISBN: 1136966951

Oil, gas and mineral deposits are a substantial part of the wealth of many countries, not least in developing and emerging market economies. Harnessing some part of that wealth for fiscal purposes is critical for economic development: in few areas of economic life are the returns to good policy so large, or mistakes so costly.

Fiscal Regimes for Extractive Industries—Design and Implementation

Fiscal Regimes for Extractive Industries—Design and Implementation
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
Total Pages: 82
Release: 2012-08-16
Genre: Business & Economics
ISBN: 1498340067

Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación

Natural Resource Taxation in Mexico: Some Considerations

Natural Resource Taxation in Mexico: Some Considerations
Author: Ms. Alpa Shah
Publisher: International Monetary Fund
Total Pages: 36
Release: 2021-10-18
Genre: Business & Economics
ISBN: 1513599666

Mexico has large extractive industries and it traditionally has raised sizable fiscal revenues from the oil and gas sector. A confluence of factors—elevated commodity prices, financial challenges of the state-owned oil company Pemex, and revenue needs for financing social and public investment spending over the medium term—suggest that a review of Mexico’s taxation regimes for natural resources would be opportune, against the backdrop of a comprehensive approach to tackling Mexico’s challenges. This paper identifies opportunities for redesigning mining taxation to increase somewhat the revenue intake while maintaining the favorable investment profile of the sector. It also discusses recent reforms to the oil and gas fiscal regime and future reform considerations, with attention to the attractiveness of investment on commercial terms—an issue that should be placed in the context of an overall reform of Pemex’s business strategy and possibly of the energy sector more generally.

Hemingway Oil and Gas Law and Taxation

Hemingway Oil and Gas Law and Taxation
Author: Richard W. Hemingway
Publisher: West Academic Publishing
Total Pages: 842
Release: 2004
Genre: Law
ISBN:

This work covers the substantive law of oil and gas and federal income taxation of oil and gas transactions. The first three chapters examine interests and transactions in the mineral estate. The fourth chapter covers surface and subsurface issues. Chapters five through eight examine in detail the oil and gas lease. Chapter nine addresses the issue of transfers by the lessor and the lessee. Chapters 10 through 12 are devoted to oil and gas taxation. Students will see that this work gives them quick access to the law of oil and gas and the law of oil and gas taxation.

South Africa

South Africa
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
Total Pages: 154
Release: 2015-09-08
Genre: Business & Economics
ISBN: 1513514806

This Technical Assistance report reviews South Africa’s tax system and also examines the fiscal regime with a view to generating a sustainable revenue contribution from mining and petroleum in future. Mining has historically been the mainstay of the South African economy. Mineral exports remain the principal contributor to foreign exchange earnings on the current account. South Africa is not yet a significant producer of crude oil or natural gas. Oil and gas exploration nevertheless shows promise. Taxation is far from top of the list in current challenges facing the development of extractive industries in South Africa. The national goal of economic and social transformation in favor of Historically Disadvantaged South Africans has major impact on the mining sector.

International Taxation and the Extractive Industries

International Taxation and the Extractive Industries
Author: Philip Daniel
Publisher: Taylor & Francis
Total Pages: 381
Release: 2016-09-23
Genre: Business & Economics
ISBN: 1317330145

The taxation of extractive industries exploiting oil, gas, or minerals is usually treated as a sovereign, national policy and administration issue. This book offers a uniquely comprehensive overview of the theory and practice involved in designing policies on the international aspects of fiscal regimes for these industries, with a particular focus on developing and emerging economies. International Taxation and the Extractive Industries addresses key topics that are not frequently covered in the literature, such as the geo-political implications of cross-border pipelines and the legal implications of mining contracts and regional financial obligations. The contributors, all of whom are leading researchers with experience of working with governments and companies on these issues, present an authoritative collection of chapters. The volume reviews international tax rules, covering both developments in the G20-OECD project on ’Base Erosion and Profit Shifting’ and more radical proposals, identifying core challenges in the extractives sector. This book should become a core resource for both scholars and practitioners. It will also appeal to those interested in international tax issues more widely and those who study environmental economics, macroeconomics and development economics.

Issues in Extractive Resource Taxation

Issues in Extractive Resource Taxation
Author: Mr.James L. Smith
Publisher: International Monetary Fund
Total Pages: 26
Release: 2012-12-06
Genre: Business & Economics
ISBN: 1475573464

This paper provides a conceptual overview of economists’ attempts to learn about the effects of taxes on extractive resources. The emphasis is on research methods and techniques, with no attempt to provide a comprehensive tabulation of previous empirical results or policy conclusions regarding preferred tax instruments or systems. We argue, in fact, that the nature of such conclusions largely depends on the researcher’s choice of modeling framework. Many alternative frameworks and approaches have been developed in the literature. Our goal is to describe the differences among them and to note their strengths and limitations.

Key Issues in Natural Resource Taxation and Revenue Management in the Commonwealth

Key Issues in Natural Resource Taxation and Revenue Management in the Commonwealth
Author: Daniel Wilde
Publisher: Commonwealth Secretariat
Total Pages: 49
Release: 2016-10-11
Genre: Business & Economics
ISBN: 1849291608

Public policies in taxation and revenue management are key to ensuring natural resource wealth results in economic development. Tax policy and systems should ensure that whenever natural resources are extracted, the host state receives a fair share of revenue. Revenue management policies are required to ensure that government revenues from natural resources are wisely used to finance sustainable economic development. This Economic Paper analyses key issues in natural resource taxation and revenue management and recommends policies that can improve countries’ economic performance. The discussion draws on economic theory, empirical evidence and the work of the Commonwealth Secretariat.

Mining Royalties

Mining Royalties
Author: James Otto
Publisher: World Bank Publications
Total Pages: 328
Release: 2006
Genre: Business & Economics
ISBN:

This book discusses the history of royalties and the types currently in use, covering issues such as tax administration, revenue distribution and reporting. It identifies the strengths and weaknesses of various royalty approaches and their impact on production decisions and mine economics. A section on governance looks at the management of mining revenue by governments and the need for transparency. There is an attached CD with examples of royalty legislation from over 40 countries.