Turkey Upstream Fiscal and Regulatory Report – Corporate Income Tax Increases to 22% for 2018 to 2020
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In December 2017, Turkey increased its corporate income tax from 20% to 22% for the tax years 2018, 2019 and 2020, though the council of ministers has the authority to adjust the rate between 20% and 22%. Apart from the corporate income tax change, Turkey’s fiscal and regulatory framework has remained stable for the past sixty years, with licenses are issued under a simple royalty-tax scheme, levying a 12.5% royalty rate. The sector was slightly reformed with the introduction of the new petroleum law back in 2013, which reduced the participation of national oil company TPAO. Blocks are licenses through an open-door-policy, and no license bidding rounds have been held or are announced for 2018.
“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 Turkey’s 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 state’s take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Turkey’s 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 regime’s 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 Turkey’s upstream oil and gas sector
Evaluate factors determining profit levels in the industry
Identify potential regulatory issues facing investors in the country’s upstream sector
Utilize considered insight on future trends to inform decision-making
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