The Assessment of Taxation Models in the Oil Sector of Russia and Foreign Countries

2015 ◽  
Vol 2015 (5) ◽  
pp. 22-45
Author(s):  
Alla Bobyleva ◽  
Elena Zhavoronkova ◽  
Olga Lvova
Keyword(s):  
Oil Industry ◽  
Tax Burden ◽  
Tax System ◽  
Oil Companies ◽  
Strategic Review ◽  
Foreign Countries ◽  
Tax Regimes ◽  
Oil Sector

The article focuses on the key parameters of the modern tax system in the oil industry of Russia and foreign countries, the tax burden of the largest Russian and foreign oil companies and their investment and financial opportunities resulting from different tax regimes, as well as recent changes in the economic and geopolitical conditions. On the basis of the research, the conclusion about the feasibility of the strategic review of the tax regime in the Russian oil industry is made and the main directions of its improvement are suggested.

scholarly journals TAX POLICY OF THE STATE IN THE OIL INDUSTRY AS AN INSTRUMENT OF ENSURING FINANCIAL SAFETY OF THE RUSSIAN FEDERATION IN THE PERIOD OF AN UNSTABLE ECONOMIC AND POLITICAL COUNTRY SITUATION

2017 ◽  
Vol 13 (1-2) ◽  
pp. 97-101
Author(s):  
Elena N Gorbunova
Keyword(s):  
Russian Federation ◽  
Tax Reform ◽  
Oil Industry ◽  
The State ◽  
Oil Companies ◽  
First Results ◽  
The Russian Federation ◽  
Ministry Of Finance ◽  
Oil Sector ◽  
Effective Result

Oil extraction taxation in our country was and remains a subject of special discussion. This article deals with actual problems of the taxation of the entities of an oil sector in the conditions of financial crisis, the sanctions imposed against Russia and the low prices of oil are considered. The object of research are topical issues of the taxation of the oil industry, in particular the mechanism of the taxation of the added income of the oil companies. The main options of tax mechanisms offered by the Ministry of Finance of the Russian Federation and the Ministry of Energy of the Russian Federation are considered and also opinions of heads of the largest oil companies of the Russian Federation of rather operating system of the taxation of the oil industry are analyzed. The special attention is paid to the analysis of the first results of the carried-out tax reform concerning entering of tax maneuver as one of the main mechanisms of financial safety of the state. The main conclusions of research is that receipt of effective result requires system work concerning reform of the taxation of the oil industry, a phased transition from tax maneuver to the taxation of the added income of the oil companies.

Study on Causes of Taxation System’s Inefficiency: Evidence from Uzbekistan

2018 ◽  
Vol 4 (3) ◽  
pp. 61-72
Author(s):  
Islambek Niyazmetov
Keyword(s):  
Current System ◽  
Fundamental Principle ◽  
Tax Burden ◽  
Tax System ◽  
Tax Legislation ◽  
Tax Regimes

This paper is intended to find main reasons of taxation system’s inefficiency leading to frequent changes in tax legislation. Uzbekistan’s tax system has been chosen as a sample for the study and has been analyzed using qualitative analyzes, such as logical comparison, analyzes of legislation, detextualization. We found that the main reason of frequent changes in tax legislation in Uzbekistan is the structure of tax system, where the fundamental principle is not followed. Beside of it, allowance of the current system to have an unequal tax burden on taxpayers, existence number of inefficient tax forms and constraints associated with the need to operate with too differentiated types of taxes and tax regimes have shown that can be the cause of overall inefficiency of the tax system of the country.

Turning potential collision into cooperation in Ghana’s oil industry

2015 ◽  
Vol 10 (2) ◽  
pp. 118-131 ◽  
Author(s):  
Kwesi Amponsah-Tawiah ◽  
Kwasi Dartey-Baah ◽  
Kobena Osam
Keyword(s):  
Oil And Gas ◽  
Oil Industry ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Content Type ◽  
Oil Companies ◽  
Critical Issues ◽  
Oil Sector ◽  
Stakeholder Interactions ◽  
Corporate Social

Purpose – This paper aims to examine the potential impact of the presence of oil resource on the Ghanaian society. Specifically, the paper investigates the relationship between key stakeholders in the oil sector, how stakeholder interactions create the potential for collision and advances measures aimed at turning possible collision into cooperation. Design/methodology/approach – The paper uses a literature review-based approach, drawing on existing literature in a number of areas including corporate social responsibility (CSR), oil and gas industry in Ghana and Nigeria as well as communication. Findings – The paper advances that expectations of stakeholders as regards oil being a panacea to all their problems must be managed to avoid possible collision. Additionally, Ghana’s oil industry must identify and engage all stakeholders in planning suitable and sustainable CSR programmes for economic development, thus fostering a friendly environment for oil companies. Transparency and accountability are also needed to promote cooperation rather than collision among stakeholders in Ghana’s oil industry. Originality/value – This paper raises and brings to the fore critical issues that can lead to potential collisions in the oil and gas industry in Ghana if not well-managed, and thus an innovative work in that regard.

scholarly journals Tax planning as an effective method to reduce the tax burden of organizations in the Russian Federation

2020 ◽  
Vol 210 ◽  
pp. 13007
Author(s):  
Elena Sivolapenko ◽  
Ekaterina Sapozhnikova
Keyword(s):  
Cost Effectiveness ◽  
Economic System ◽  
Russian Federation ◽  
Tax Planning ◽  
The State ◽  
Planning Method ◽  
Tax Burden ◽  
Tax System ◽  
Tax Regimes ◽  
The Russian Federation

Taxes are an integral part of the economic system, not only of any state, but also of each individual organization. The influence of the tax system on the state and development of the economy is an indisputable fact. Tax planning is an effective tool to reduce the tax burden of organizations in the Russian Federation. However, today it is not a recognized method of reducing the costs of an organization, despite its cost-effectiveness, legality and stability. The purpose of this article is to study the tax planning method as an effective tool to reduce the tax burden used by organizations in the Russian Federation. The result of the study is the analysis of the calculations of the tax burden of the organization when applying various tax regimes provided for by the current legislation for individual entrepreneurs.

SCENARIOS FOR THE DEVELOPMENT OF THE RUSSIAN OIL INDUSTRY IN MODERN CONDITIONS

2020 ◽  
Vol 13 (2) ◽  
pp. 139-145
Author(s):  
D.F. Kudriakov ◽  
◽  
T.M. Mazurchuk ◽  
D.R. Grinchenko ◽  
◽  
...  
Keyword(s):  
Oil Industry ◽  
Scientific Work ◽  
Petroleum Products ◽  
Potential Contribution ◽  
Internal Factors ◽  
Oil Companies ◽  
Foreign Countries ◽  
Political Conditions ◽  
The Russian Federation ◽  
The Impact

In the scientific work, a study is carried out of possible scenarios for the development of the Russian oil industry in modern non-stationary economic and political conditions. The hydrocarbon market is undergoing significant changes, largely accompanied by sharp price fluctuations and an excess of supply over demand, so it is important to assess under what conditions the Russian oil industry will be able to maximize its benefits. The aim of the study is to build objective scenarios for the development of the Russian oil industry and its position in the global hydrocarbon market. It also assesses the potential contribution of the Russian Federation to the reduction of oil production in the framework of the renewed OPEC+ transaction involving new oil exporting countries, as well as the combined effect of the agreements affecting oil prices. For making objective forecasts, internal factors are taken into account, among which are: access to hard-to-recover reserves, discovery and development of new deposits, investments in intensification of production, as well as external factors: agreements to reduce production by exporting countries, the impact of the coronavirus pandemic (Covid-19) on the volume of sales of petroleum products, political and other economic conditions that have a direct impact on the global hydrocarbon market. The actual basis of the work is the forecasts of independent experts, analytical agencies, state statistical services, as well as reporting by oil companies in Russia and foreign countries.

scholarly journals The Possibility of Nationalization by the Kurdistan Regional Government of Iraq under the Light of Signed Petroleum Contracts and Establishment of Kurdistan National Oil Company (KNOC)

2020 ◽  
Vol 6 (1) ◽  
pp. 35
Author(s):  
Arez Mohammed Sediq Othman
Keyword(s):  
Oil And Gas ◽  
Oil Industry ◽  
Regional Government ◽  
Oil Companies ◽  
Production Sharing ◽  
Direct Support ◽  
Oil Sector ◽  
Oil Contracts ◽  
The Government ◽  
Oil Company

In the past 20 years, Kurdistan Regional Government (KRG) of Iraq has signed hundreds of Production Sharing Contracts with many international oil companies to expand investment and develop its oil sector. According to the applicable laws in the region, in particular Oil and Gas Law No.22 of 2007, government shall work to establish Kurdistan National Oil Company (KNOC) to take charge of petroleum operations. Meanwhile, according to the same law, the duration of petroleum production sharing contracts shall not exceed 20 years with the possibility of five years extension. Despite the fact that KRG is abided to many legal obligations to share the produced oil under production sharing contracts, there is always a question of whether KRG will be able to administer its oil industry and what will be the future of these oil contracts? This paper argues that KRG cannot nationalize (by appropriating the whole oil industry and assets of foreign oil companies) its petroleum sector even after the establishment of KNOC as there are many legal terms preventing it from nationalizing the oil industry besides the lack of technical ability to run the sector without the direct support from foreign oil companies. Moreover, the paper also discusses different possibilities after the end of oil contracts with foreign international companies; Does KRG continue with the current contractual form or it will shift to other forms of contract such as service contract to develop oil industry in the region? It suggests that the best practice for the government is to institutionalize its oil sector with receiving direct support from oil companies. The establishment of KNOC is considered to be an effective step towards institutionalization of oil sector in the Iraqi Kurdistan Region.

scholarly journals Granting preferences in the taxation of small and medium-sized enterprises: the conformity of approaches in foreign countries and Russia

2020 ◽  
pp. 6-17
Author(s):  
Е.А. Юдин
Keyword(s):  
Economic Indicators ◽  
Tax Burden ◽  
Economic Activities ◽  
Tax System ◽  
Foreign Experience ◽  
Foreign Countries ◽  
Domestic Practice

В статье рассмотрена структура налоговых преференций, предоставляемых субъектам малого и среднего предпринимательства, с учетом действующих принципов их формирования. Проведено сопоставление налоговых преференций в зарубежной и отечественной практике. Отмечена необходимость применения позитивного зарубежного опыта предоставления преференций в России, исходя из национальной специфики ее налоговой системы. Приведены меры снижения налоговой нагрузки на малый и средний бизнес, сформулированные в действующих правовых актах, публикациях, предложениях граждан. Показаны основные экономические показатели и результаты финансово-хозяйственной деятельности в сфере малого и среднего бизнеса The article considers the structure of tax preferences, provided to small and medium-sized enterprises, taking into account the current principles of their formation. A comparison of tax preferences in foreign and domestic practice performed. The necessity of applying positive foreign experience in providing preferences in Russia taking into account the national specifics of its tax system is noted. Measures to reduce the tax burden on small and medium-sized businesses, formulated in existing legal acts, publications, and citizens' proposals, are indicated. The main economic indicators and the results of financial and economic activities in the field of small and medium-sized businesses are shown.

New Challenge in Latin American and Caribbean Oil Spill Control: Offshore Prevention and Response after the DWH Milestone

2014 ◽  
Vol 2014 (1) ◽  
pp. 1-13
Author(s):  
Carlos Sagrera
Keyword(s):  
Latin American ◽  
Oil Industry ◽  
Oil Companies ◽  
Incident Command ◽  
Emergency Situations ◽  
National Oil Companies ◽  
Production Stages ◽  
Oil Sector ◽  
Spill Control ◽  
Latin American And Caribbean

ABSTRACT With offshore activities at different exploration and production stages in virtually all South American countries with sea coasts, a Central American country, and some Caribbean countries, the Deepwater Horizon (DWH) disaster has not gone unnoticed among the governments and the oil industry in the area. Organizational and human errors committed and highlighted in the investigations that have successively come to light in such a world power as the U.S.—a leader in the sector—, bring to mind the realities and systemic safety failures of the schemes and procedures in force, both in the oil industry and regulatory authorities, to control these potential environmental disasters. The offshore issue has become a priority in the Latin American and Caribbean oil industry and grows because of the recurrent confirmation of new oilfields and their successful exploration by international oil companies through block concessions, which is the only way to access the required effective technology for exploitation. Over the past decades and without exception, Latin America and the Caribbean has gone through emergency situations with spills from oil tankers, explosions and fires in refineries, pipeline fires and sabotage, and explosions and sinkings of oil rigs. The shy cooperation attempts between states and national oil companies obtained few concrete results despite the efforts of regional organizations such as ARPEL. This paper emphasizes the weaknesses in response procedures and standards through specific examples of recent incidents in “the Big Three” (Brazil, Mexico, and Venezuela), which could become worse in the current offshore deep and ultra-deep water scenario. It challenges the National Contingency Plans that must now include offshore goals and an organization scheme, such as the Incident Command System, which must be adapted as soon as possible due to the new scenarios and the need for effective inclusion of environmental actors previously relegated. The paper also outlines response strategies applied in DWH and their possible use in offshore scenarios in the region, which will require coordinated efforts by all stakeholders. It emphasizes that this is an excellent opportunity for operational improvement of the Latin American and Caribbean oil sector with respect to safety, emergencies, and spill control.

Major Trends in the Historiography of the Latin American Oil Industry

2010 ◽  
Vol 84 (2) ◽  
pp. 339-362 ◽  
Author(s):  
Marcelo Bucheli
Keyword(s):  
Latin American ◽  
Oil Industry ◽  
Oil Consumption ◽  
Cultural Impact ◽  
Organizational Evolution ◽  
Oil Companies ◽  
New Methodologies ◽  
Oil Sector ◽  
The 1960S

The historiography of Latin America's oil industry has evolved since the period between the 1960s and the 1980s, when most scholars were focusing on the rise of nationalism in reaction to the multinationals' control of the oil sector. Beginning in the 1990s, the emergence of new methodologies enabled historians to study other aspects of the industry, such as its environmental and cultural impact, local elites' role in its development, the industry's impact on the long-term development of Latin American countries, and the organizational evolution of state-owned oil companies. However, the literature continues to be dominated by studies of Mexico, while the subject of oil consumption is largely ignored.

scholarly journals Cluster analysis of the companies of the oil industry for the parameters of the tax load

2018 ◽  
Vol 11 (4) ◽  
pp. 377-386
Author(s):  
I. V. Filimonova ◽  
L. V. Eder ◽  
I. V. Provornaya ◽  
A. V. Komarova
Keyword(s):  
Oil And Gas ◽  
Federal Budget ◽  
Oil Industry ◽  
Tax Burden ◽  
Key Factors ◽  
Method Of Calculation ◽  
Oil Companies ◽  
Tax Deductions ◽  
Tax Payments ◽  
The Impact

The article analyzes the tax burden of oil companies for the period from 2010 to 2017 and with differentiation by types of taxes and the largest companies in the industry. The main stages of improving the taxation of the oil industry in Russia are singled out, with the identification of the goal and the main targets for reform. The role of oil and gas revenues (the tax on extraction of minerals and export customs duties) in the structure of federal budget revenues and the economy as a whole is shown. The methodical approaches of domestic authors to the determination of the tax burden have been studied. The authors proposed a methodology for determining the tax burden of companies, taking into account the specifics of taxation of the oil industry. Approbation of the methodology led to the conclusion that there has been a steady trend of reducing the tax burden of oil companies in recent years as a result of a change in the method of calculation and expansion of the spectrum of preferential categories of subsoil use objects. As part of the study, a factor analysis of company tax payments was carried out and key factors influencing their structure and dynamics were identified. The main factors that have influenced the increase in tax deductions are the growth of the dollar rate, an increase in the basic rate of the mineral extraction tax, an increase in the volume of oil production and export, and a decrease in the price of oil for a decrease. A quantitative assessment of the impact of these factors on changes in tax payments of companies is given. In conclusion, based on the calculations, the oil companies are divided into three clusters according to the tax burden indicators and recommendations are given.

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