Fiscal Elements of TEFCEL Model


Fiscal element of TEFCEL constitutes any and all elements related to the fiscal regime of the projects and contracts, including but not limited to the costs and fees to be legally paid under the prevailing laws and regulations e.g. taxes, SSO, levies, charges, fees, royalties, bonuses, tariffs, custom duties etc.; and the fiscal regime defined under the various types of the petroleum contracts such as buy-back, PSA, IPC, Royalty & Tax system, and concession;

Further issues and related explanations should be elaborated in the particular course of TEFCEL Model