2019 Global Oil and Gas Tax Guide

This guide summarizes the oil and gas corporate tax regimes in 86 jurisdictions. Use either the map below or the menu at right to see the guide’s information for a jurisdiction.

This guide summarizes the oil and gas corporate tax regimes in 86 jurisdictions. Use the menu below to see the guide’s information for a jurisdiction.

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“The management of the potential supply surplus against uncertain demand growth has kept the oil price in a fairly narrow price corridor. That has resulted in an increasing demand for material projects with well-defined capex requirements and low operating costs. In certain jurisdictions, that has led to a change in the investor base and ongoing competition for capital. EY’s global oil and gas tax guide 2019 provides a valuable resource in setting out the relevant fiscal regimes for oil and gas exploitation and is underpinned by EY’s fiscal policy advisory and modeling capabilities.”
– Derek Leith, Global Oil & Gas Tax Leader

Our 2019 Global Oil and Gas Tax Guide summarizes the oil and gas corporate tax regimes in 86 jurisdictions and includes a directory of our global oil and gas tax and law contacts.

Transformation of the industry continues

The technology driven surge in supply, in the form of US shale, has changed the dynamics of the oil market for the foreseeable future. While the industry must adapt to this change, it also has a need to finance projects with multi-decade return horizons requiring the investment of trillions of dollars in an increasingly uncertain investment environment.

In response, tax structures and business models continue to develop and change. Digital technology not only drives efficiencies, but also brings new opportunities for existing and new entrants into the market.

Tax regime change

As a result of the industry transformation, governments are reconsidering their oil and gas fiscal regimes to achieve the necessary balance between being sufficiently attractive to compete for capital, and the need to drive immediate tax revenues to address current fiscal requirements and diversify their economies.

These changes, combined with governments’ ongoing efforts to implement the OECD’s Action Plan on Base Erosion and Profit Shifting, present an everchanging tax landscape that oil and gas tax professionals must ensure they are suitably equipped to navigate.

About EY’s Global Oil & Gas Sector

Our global network of more than 10,000 oil and gas professionals have 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 ey.com/oilandgas.

Tax information

The content is based on information current on 1 January 2019, 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.