Issues of Taxation in the Oil and Gas Sector in Selected Countries: Lessons for Ghana

Emmanuel B. Amponsah, John A. Enahoro, Abdallah Ali-Nakyea

Abstract


Issues of Taxation in the Oil and Gas Sector in Selected Countries: Lessons for Ghana undertakes a review of petroleum taxation in selected countries around the world and seeks to fashion a way for Ghana’s infantile petroleum industry. In other words, the study seeks to facilitate a smooth tax regime and policy for Ghana. The study is based on literature arising from desk research as well as through telephone interviews. Petroleum taxation regimes of the countries under study portend to mitigate the current inconsistencies and resulting contentions from tax payers in Ghana.

Key words: Oil and gas; Petroleum; Crude oil; Hydrocarbon; Upstream petroleum operations; Taxation; Tax legislation; Royalty; Income tax


Keywords


Oil and gas; Petroleum; Crude oil; Hydrocarbon; Upstream petroleum operations; Taxation; Tax legislation; Royalty; Income tax

Full Text:

PDF

References


Alt Kiev (n. d.). Tax Consulting. Retrieved from http://www.msiglobal.org/firms/Alt_Kiev_Ukraine_Accountants&pdf=1

Boothroyd, R. (2011). Venezuela Increases Windfall Tax as a Result of Rising Oil Prices. Retrieved from http://venezuelanalysis.com/news/6148.

Eluniversal (2011). Venezuela Sets Oil Windfall Tax for Oil Price at USD 40-70. Retrieved July 24, 2012 from http://www.eluniversal.com/2011/04/29/venezuela- sets-oil-windfall-tax-for-oil-price-at-usd-40-70.shtml.

ETCN (2011). Venezuela Imposes High Taxes on Petroleum. Retrieved on July 24, 2012 from http://www.e-to-china.com/tariff_changes/global_tariff_changes/2011- /0429/-92731.html.

Heritage (2010). 2012 Index of Economic Freedom: United Arab Emirates. Retrieved from http://www.heritage.org/index/default.

Input Solutions (2004). Indonesia Awards 15 PSCs; Tax Regime To Be Improved. Retrieved on June 19, 2012 from http://www.thefreelibrary.com/Indonesia+Awa- rds+15+PSCs-%3b+Tax+Regime+To+Be+Improved.a0126394009

International Monetary Fund (IMF) (2011). Revenue Mobilization in Developing Countries. Retrieved on June 19, 2012 from http://policyschool.ucalgary.ca/sites/default/files/research/mintztechtaxoilgas.

Jewell, R. (n. d.). The Petroleum Profit Tax Act. Retrieved from http://www.ehow.com/facts_7285268_petroleum-profit-tax-act.html.

Legall, D. (n. d.). New Petroleum Industry Bill for Nigeria. Retrieved from http://www.ibanet.org/Article/Detail.aspx?ArticleUid=6fa3d18b-635f-41f4-b90d- bbfb85d00649.

Ley, E., & Boccardo, J. (2010). The Taxation of Motor Fuel: International Comparison. Washington, DC: The World Bank.

Main, P. (2009). Oil and Gas Opportunities in Africa. Retrieved from http://www.energyglobal.com/sectors/exploration/articles/oil_and_gas_opportunities_in_africa.aspx

Microsoft Encarta Dictionaries. (2008). Microsoft Corporation.

Mintz, J. (2010). Measuring Effective Tax Rates for Oil and Gas in Canada. University of Calgary: School of Public Policy Technical Papers. Retrieved from http://policyschool.ucalgary.ca/sites/-default/files/research/mintztech- taxoilgas.pdf.

National Petroleum Investment Management Services (NAPIMS) (2012). Petroleum Fiscal Systems in Nigeria. Retrieved from http://www.napims.com/fiscal.html

Nigeria-law. (2012). Guide to Business in Nigeria. Retrieved from http://www.nigeria-law.org/BusinessInNigeriaTaxation.htm.

Nwete, B. O. N. (n. d.). Mineral and Petroleum Taxation. Retrieved from http://www.dundee.ac.uk/cepmlp/car/html/car8_article14.pdf .

Okwe, M. (2012, July 24). Taxes Fetch N2.43tr. The Guardian. p. 6. Guardian Newspapers (Nigeria) Limited. www.ngrguardiannews.com.

Olajide & Associates. (n. d.). Homepage. Retrieved from http://www.olajideassociates.com/olajide/serv305.htm.

Osolake, V. O. (2010). An Appraisal of Petroleum Profits Tax (Amendment) Act, 2007. Retrieved from http://osvicom.blogspot.com/2010/09/appraisal-of- petroleum-profits-tax-act.html.

Republic of Ghana. (1987). Petroleum Income Tax Act (PITA) 1987 (PNDCL 188) of the Republic of Ghana. Accra: Government of Ghana.

Republic of Ghana. (1992). The 1992 Constitution of the Republic of Ghana. Retrieved from http://www.ghanaweb.com/GhanaHomePage/republic/-constitution.php?id=Gschedule2.html

Republic of Ghana. (1996). Customs, Excise and Preventive Service (CEPS) Law (PNDCL 144) 1986 of the Republic of Ghana. Tema: Ghana Publishing Corporation.

Republic of Ghana. (1998). Value Added Tax Act 546 (1998). Accra: Ghana Publishing Corporation Assembly Press.

Republic of Ghana. (2002). Internal Revenue Service Act 592, (2000) (as amended). Tema: Ghana Publishing Corporation.

Republic of Ghana. (2008). New Pensions Act (Act 766) of the Republic of Ghana Accra: National Pension Regulatory Authority. Retrieved from http://www.ssnit.com/pdf/Pension_ACT_766.pdf.

Republic of Ghana. (2010). Petroleum (Exploration and Production) Bill 2010 of the Republic of Ghana. Accra: Government of Ghana.




DOI: http://dx.doi.org/10.3968/j.ibm.1923842820120502.1085

Refbacks

  • There are currently no refbacks.


Copyright (c)



Share us to:   

Reminder

  • How to do online submission to another Journal?
  • If you have already registered in Journal A, then how can you submit another article to Journal B? It takes two steps to make it happen:

1. Register yourself in Journal B as an Author

  • Find the journal you want to submit to in CATEGORIES, click on “VIEW JOURNAL”, “Online Submissions”, “GO TO LOGIN” and “Edit My Profile”. Check “Author” on the “Edit Profile” page, then “Save”.

2. Submission

  • Go to “User Home”, and click on “Author” under the name of Journal B. You may start a New Submission by clicking on “CLICK HERE”.


We only use three mailboxes as follows to deal with issues about paper acceptance, payment and submission of electronic versions of our journals to databases: [email protected]; [email protected]; [email protected]

 Articles published in International Business and Management are licensed under Creative Commons Attribution 4.0 (CC-BY).

 INTERNATIONAL BUSINESS AND MANAGEMENT Editorial office

Address: 1055 Rue Lucien-L'Allier, Unit #772, Montreal, QC H3G 3C4, Canada.
Telephone: 1-514-558 6138 
Website: Http://www.cscanada.net Http://www.cscanada.org 
E-mail: [email protected]

Copyright © 2010 Canadian Research & Development Centre of Sciences and Cultures