Uganda: Technical Assistance Report-Fiscal Regimes for Extractive Industries: Next Phase

International Monetary Fund

No 2017/367, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Assistance Report discusses the advice provided by the IMF staff to the authorities of Uganda regarding extractive industry fiscal regimes. As Uganda’s portfolio of projects diversifies in the oil sector, the minimum take could be adjusted to allow for possible bonus bids, and for higher shares in the most successful projects. The royalty design also needs to take account of new provisions for distribution of a portion to local governments. The cost recovery limit could be set at 70 percent after deduction of royalty. In addition to work program, either a signature bonus or an upper tier of production sharing should form the bid variable in the licensing round, with all other items fixed and non-negotiable.

Keywords: ISCR; CR; income tax; government share; withholding tax; rate of return; import duty; resource company; cash flow; cost of capital; customs duty; flat rate; sliding scale; sensitivity analysis; export duty; tax treatment; intangible asset; Oil; Mining sector; Income and capital gains taxes; Production sharing; Africa; West Africa; Global (search for similar items in EconPapers)
Pages: 89
Date: 2017-12-13
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