2014 Global oil and gas tax guide

This guide summarizes the oil and gas corporate tax regimes in 80 countries. Use either the map below or the menu at right to see the guide’s information for a country.

This guide summarizes the oil and gas corporate tax regimes in 80 countries. Use the menu below to see the guide’s information for a country.

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“Countries’ fiscal policy has never been so important to the oil and gas industry, by both maximizing their revenue from hydrocarbon production and creating a stable fiscal environment for efficient resource development. In addition, it allows the countries’ to attract large-scale investments.”
-Says Alexey Kondrashov, Oil & Gas Tax Leader at EY

Competition drives tax policies

In competition for exploration investments, governments are working on making oil and gas tax regimes competitive and attractive to investors.

Forward thinking governments review and revise their regimes as quality and economies of basins evolve over time. Other basin challenges also affect the speed at which regimes change, for example declining production within basins caused by the maturity of fields.

Unconventionals in the spotlight

Some countries continue to develop tax policies specifically around unconventional as well as difficult-to-recover oil and gas, in an effort to provide incentives for such projects. Governments see the potential of shale within their counties energy mix and want to create the right conditions for industry to explore and unlock that potential.

Going forward though, unconventional fiscal changes may impact the available cash to establish reserves which can negatively affect the balance sheet.

This year’s guide includes six new countries

  • Cambodia
  • Germany
  • Laos
  • Lebanon
  • Myanmar
  • Tunisia

About the EY Global Oil & Gas Center

The Center supports a global network of more than 9,600 oil and gas professionals with extensive experience in providing assurance, tax, transaction and advisory services across the upstream, midstream, downstream and oilfield service sub-sectors.

For more information, please visit www.ey.com/oilandgas.

Tax information

The content is based on information current on 1 January 2014, unless otherwise indicated in the text of the chapter.

This publication should not be regarded as offering a complete explanation of the tax matters referred to and is subject to changes in the law and other applicable rules. Local publications of a more detailed nature are frequently available, and readers are advised to consult their local EY professionals for more information.