Fiscal challenges and risks of industry contracts
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.
Amongst the Fiscal services provided particularly in the oil and gas industry: Implication of Taxes in contracts, SSO, Lawful Levies, Fees, Charges, Corporate Income Tax, Hydrocarbon Tax, Royalty, Profit Sharing, Oil Pipeline Tariff, Bonuses, Special Petroleum Tax, Ring Fence Corporation Tax (RFCT), Environment Fees, CSR Fees.