What Does Rent Give to Federal Budget (on the Russia's Budget Dependence upon "Oil Dollars")

2004 ◽  
pp. 51-69 ◽  
Author(s):  
E. Sharipova ◽  
I. Tcherkashin
Keyword(s):  
Oil And Gas ◽  
Strong Dependence ◽  
Oil Prices ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Resource Rent ◽  
Tax Legislation ◽  
Russian Economy ◽  
The Government

Federal tax revenues from the main sectors of the Russian economy after the 1998 crisis are examined in the article. Authors present the structure of revenues from these sectors by main taxes for 1999-2003 and prospects for 2004. Emphasis is given to an increasing dependence of budget on revenues from oil and gas industries. The share of proceeds from these sectors has reached 1/3 of total federal revenues. To explain this fact world oil prices dynamics and changes in tax legislation in Russia are considered. Empirical results show strong dependence of budget revenues on oil prices. The analysis of changes in tax legislation in oil and gas industry shows that the government has managed to redistribute resource rent in favor of the state.

General financial environment 2014

2014 ◽  
Vol 54 (1) ◽  
pp. 467
Author(s):  
Max Williamson
Keyword(s):  
Research And Development ◽  
Oil And Gas ◽  
Carbon Tax ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Resource Rent ◽  
Oil And Gas Exploration ◽  
Tax Legislation ◽  
Oil Shock ◽  
The Government

Research available from oil and gas industry commodity traders and bankers suggests relatively stable pricing of key commodities for the next two to three years. Barring another oil shock, or similar major international event, that will mean a positive atmosphere for longer term decision making by project developers and regulators. With a new, stable Federal Government and similar persuasion State Governments focused on repealing the carbon tax and developing key infrastructure around Australia including ports, it is not unreasonable to expect a period of real growth and project development, including a resurgence of interest in oil and gas exploration. Doubtless continuing pressure from political lobby groups and parties to try and claim some ground in areas like groundwater re-treatment and usage, and the repeal of the Mineral Resource Rent Tax and the carbon tax legislation packages, will be apparent. How the government may achieve these legislation changes will have significant impact on project feasibility and how projects are designed, operated and managed. Some of the fascinating developments in researching aspects of how the Australian industry will achieve its technical objectives and how they are supported by the research and development tax incentives are worth more than a cursory financial review. With a historically cheap cost of capital there will be increased focus on borrowing methodologies and supporting techniques, with equity only being freely available to the majors. The funding of exploration programs and the determination of what is research and development in those programs will be critical for smaller companies.

Taxation aspects of climate change management measures

2010 ◽  
Vol 50 (1) ◽  
pp. 253
Author(s):  
David Lewis
Keyword(s):  
Climate Change ◽  
Financial Reporting ◽  
Oil And Gas ◽  
Global Climate ◽  
Action Plan ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Resource Rent ◽  
Management Measures ◽  
The Government

Climate change is undoubtedly one of the greatest economic, social, and environmental challenges now facing the world. The present Australian Government is committed to acting on climate change and Australia’s progress towards its emissions reduction targets is being closely watched internationally. To contribute effectively to global climate change action, Australia must demonstrate its ability to implement robust and sustainable domestic emissions management legislation. The Carbon Pollution Reduction Scheme (CPRS), modelled after the cap-and-trade system, continues to be debated by our policymakers, as the Government moves to re-introduce its preferred CPRS legislative package for the third time. The advent of climate change legislation is inevitable and its impact will be far-reaching. This paper reviews the fiscal aspects of the proposed CPRS legislation in the context of the oil and gas industry, and whether it is conducive to creating incentives for appropriate climate change response by the industry. In particular, this paper will consider: the direct and indirect tax features specifically covered in the proposed CPRS legislation and their implications; the areas of taxation that remain uncanvassed in the proposed CPRS legislation and aspects requiring clarification from the tax administration; the interaction between Petroleum Resource Rent Tax (PRRT) and the CPRS measures; the flow-on impacts to taxation outcomes resulting from proposed accounting and financial reporting responses to the CPRS legislation; the income tax and PRRT treatment of selected abatement measures; and, elements of a good CPRS tax strategy and compliance action plan.

The Financial Significance of the Oil and Gas Sector for the Russian Economy

2012 ◽  
pp. 76-91
Author(s):  
L. Eder ◽  
I. Filimonova
Keyword(s):  
Oil And Gas ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
International Markets ◽  
Balance Of Payments ◽  
Financial Indicators ◽  
Gas Industry ◽  
Russian Economy ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

The article describes the complex of economic and financial indicators reflecting the results of Russia’s oil and gas industry in 2011. Price environment of the major energy resources with regard to their realization at the domestic and international markets is analyzed. Main indicators of economic performance of the oil and gas industry (revenue, profit, profitability) are reviewed with differentiation by companies. The authors consider the tax burden for the oil and gas companies; show their role in forming federal budget revenues. The paper presents the analysis of specialized funds and reserves that are formed at the expense of oil and gas industry sources; examines Russia’s balance of payments as well as revenues generated by oil and gas exports. The stock market structure of Russia and the world is described with consideration of particular oil and gas companies.

scholarly journals MANAGEMENT AUTHORITY OF OIL AND GAS RESOURCES IN ACEH TERRITORY AFTER SIGNING THE GOVERNMENT REGULATION NUMBER 23 YEAR 2015

2018 ◽  
Vol 3 (Number 2) ◽  
pp. 59-69
Author(s):  
Azhari Yahya ◽  
Nurdin MH
Keyword(s):  
Government Regulation ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Oil And Gas Fields ◽  
Oil And Gas Resources ◽  
Free Aceh Movement ◽  
The Government ◽  
Gas Fields ◽  
Energy Law

The oil and gas industry in Indonesia has been started since 1871 by Royal Dutch Shell. Meanwhile, the oil and gas industry in Aceh began in 1971 which was marked by the discovery of the Arun oil and gas fields. At that time, the management of oil and gas is done centrally by not involving the Government of Aceh as a regional producer. This led to armed conflict between the Government of Indonesia and the Free Aceh Movement and prolonged conflict (for 32 years) ended with the approval of the joint oil and gas management pattern found in the territory of Aceh as stipulated in the MoU Helsinki on August 15 2005, Law No. 11 of 2006 concerning the Government of Aceh and Government Regulation No. 23 of 2015 concerning Joint Management of Oil and Gas in Aceh. In order to finalize joint oil and gas management in Aceh, universities, especially the Faculty of Law, need to immediately prepare human resources who are competent in the oil and gas and energy law so that they are skilled at negotiating and drafting a Production Sharing Contracts (PSC) for oil and gas or Kontrak Bagi Hasil (KBH). For this purpose, law faculties need to immediately incorporate oil and gas and energy law courses into their curriculum.

scholarly journals MANAGEMENT OF THE OIL AND GAS INDUSTRY IN INDONESIA MANAGERIAL PERSPECTIVE (STUDY IN THE INDONESIAN UPSTREAM OIL AND GAS INDUSTRY)

2021 ◽  
Vol 2 (3) ◽  
pp. 381-395
Author(s):  
Kasman Arifin ◽  
Dina Hidayat ◽  
Iqbal Maulana Arifin
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Developed Countries ◽  
Financial Accounting ◽  
Exploratory Research ◽  
Literature Study ◽  
Gas Industry ◽  
State Income ◽  
The Government ◽  
Managerial Perspective

This article discusses the organization of upstream oil and gas industri in Indonesia from managerial perspective. For Indonesian context, actually this has been arranged by the Statement Oil and Gas Standard Accountancy No.29 Year 2009. In developed countries such as United States there is Standard Financial Accounting Statement issued by Financial Accounting Standard Board (FASB). In order to obtain clarity and transparency and to avoid different interpretation between the contractors and the government, therefore there ought to be explicit principles and methods in production sharing contract and desired accountancy period so that the similar method can be applied on APBN (National Planning and Expenditure Budget). This is since accountancy method affects financial report. With the latter, contractor’s performance and state income can be measured. Research methodology are ground research and exploratory research, reaseacher assumption based on field condition and resolve problem from literature study.

Contemporary fiscal issues impacting M&A in the oil and gas sector

2012 ◽  
Vol 52 (1) ◽  
pp. 149
Author(s):  
Kenneth Wee
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Regular Feature ◽  
Gas Industry ◽  
Resource Rent ◽  
Petroleum Resource ◽  
Recent Developments ◽  
Australian Economy ◽  
To Come ◽  
Oil And Gas Sector

Ongoing growth in deal activity in the oil and gas industry is one of the critical forces underpinning the sustained robustness of the Australian economy. Australian oil and gas assets continue to attract significant international interest and are actively pursued by global and domestic investors alike. On the supply side, exploration players are seeking the necessary funding and technical support to commercialise prospective oil and gas discoveries, while on the demand side, major established oil and gas companies are seeking to acquire viable targets as a means of rapidly replenishing their reserves. Consequently, merger and acquisition (M&A) deals and asset trades have become a regular feature of the corporate oil and gas scene in Australia. In time to come, a wave of industry consolidation is likely to emerge. This paper discusses key fiscal aspects of M&A transactions, as affected by recent developments in the Australian taxation landscape, and their impact on the overall economics of, and extracting value from, an investment in the oil and gas sector, including: the taxation of farm-in/farm-out arrangements, asset swaps and carry arrangements; structuring the deal consideration for fiscal efficiency; takeover and acquisition vehicle structures; the M&A issues associated with the extension of the Petroleum Resource Rent Tax (PRRT) to the onshore oil and gas industry; consideration associated with capital management, capital structure and financing trends for the industry; exit and repatriation routes—do all roads lead to tax?; managing transaction costs; and, managing tax risks in M&A deals.

Tax issues impacting acquisitions in the Australian oil and gas industry

2011 ◽  
Vol 51 (2) ◽  
pp. 669
Author(s):  
Chad Dixon
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Investment Decision ◽  
Oil And Gas Industry ◽  
Capital Gains ◽  
Capital Gains Tax ◽  
Gas Industry ◽  
Resource Rent ◽  
Goods And Services ◽  
Petroleum Resource

Understanding the tax implications and structuring options of a transaction is critical when assessing and comparing new opportunities. When undertaking any transaction involving Australian oil and gas assets, the applicable taxation regime should be carefully explored and understood. From an Australian perspective, taxes such as corporate income tax, petroleum resource rent tax, capital gains tax, and goods and services tax have significant potential to influence the investment decision. This presentation will focus on the tax implications applicable to the acquisition and disposal of Australian oil and gas assets, providing valuable insights for both Australian companies and inbound investors.

Recent Developments in the Law of Interest to Oil and Gas Lawyers

1985 ◽  
Vol 24 (1) ◽  
pp. 143
Author(s):  
Robert P. Desbarats ◽  
Lorne W. Carson ◽  
Donald E. Greenfield
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Separate Paper ◽  
Judicial Decisions ◽  
Tax Legislation ◽  
Recent Developments ◽  
Federal Income Tax ◽  
The Subject

The purpose of this paper is to discuss recent developments in the la w which are of interest to lawyers whose practice relates to the oil and gas industry. It deals with both judicial decisions and statutory developments during the last year. Some of the cases discussed do not pertain directly to the oil and gas industry. These cases have been included either because they involve situations analogous to those which occur frequently in the oil and gas business or because they concern principles of law which are applicable to that industry. In order to place some limit on the scope of the paper, only federal and Alberta legislative developments are reported. In addition, we have not discussed federal income tax legislation, which is the subject of a separate paper delivered at this year's conference. The review of the legislation is effective as of May 1, 1985.**

Russian depreciation policy: causes and solutions

2017 ◽  
Vol 30 (1) ◽  
pp. 126-135 ◽  
Author(s):  
A. N. Ivanov
Keyword(s):  
Historical Perspective ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Russian Economy ◽  
Fixed Assets ◽  
High Level ◽  
Very High

Today the Russian economy has a very high level of the depreciation of fixed assets, which more and more brightly expressed in the reduction of competitiveness of oil and gas industry. The main reason is an ineffective system of depreciation policy in the country. This article deals with the main «weaknesses» of Russian depreciation policy, their causes in historical perspective, and provides experts’ solutions and the author's vision on the necessary updates.

Sign in / Sign up

Export Citation Format

Share Document