Topic: Fiscal Regime of Oil and Gas

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OGMT – Feb 2020 – L1 – Q2 – Finance Lease

Explain the concept of a finance lease and its tax treatment under the Income Tax Act, 2015 (Act 896).

Explain the following concepts and their tax treatment:

a) Finance Lease;

b) Operating Lease;

c) Ring Fencing and state how it is provided for in respect of Petroleum Operations under the Income Tax Act, 2015 (Act 896).

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OGMT – Feb 2020 – L1 – Q1 – Host Government Contracts

Identify and explain the three main Host Government Contracts for oil and gas exploration and production rights.

a) Countries grant exploration and production rights to oil and gas companies under various contractual arrangements. But there are three main ones referred to as Host Government Contracts or World Fiscal Systems for oil and gas. Identify and explain the main features of the three Host Government Contracts.

b) Ghana’s upstream petroleum fiscal regime has been described in some fora as “a hybrid of the Royalty Tax Regime and Production Sharing Contract.” Do you agree with this description? If yes, explain; and if not, explain the fiscal regime of Ghana.

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OGMT – Aug 2020 – L1 – Q2 – Ring Fencing

Explain Ring Fencing and its provisions under the Income Tax Act for mining operations.

(a). Explain briefly the concept of Ring Fencing and state how it is provided for in respect of Minerals and Mining Operations under the Income Tax Act, 2015 (Act 896).

(b). Write short notes on Additional Participating Interest and Additional Oil Entitlement.

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OGMT – Feb 2020 – L1 – Q2 – Finance Lease

Explain the concept of a finance lease and its tax treatment under the Income Tax Act, 2015 (Act 896).

Explain the following concepts and their tax treatment:

a) Finance Lease;

b) Operating Lease;

c) Ring Fencing and state how it is provided for in respect of Petroleum Operations under the Income Tax Act, 2015 (Act 896).

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You're reporting an error for "OGMT – Feb 2020 – L1 – Q2 – Finance Lease"

OGMT – Feb 2020 – L1 – Q1 – Host Government Contracts

Identify and explain the three main Host Government Contracts for oil and gas exploration and production rights.

a) Countries grant exploration and production rights to oil and gas companies under various contractual arrangements. But there are three main ones referred to as Host Government Contracts or World Fiscal Systems for oil and gas. Identify and explain the main features of the three Host Government Contracts.

b) Ghana’s upstream petroleum fiscal regime has been described in some fora as “a hybrid of the Royalty Tax Regime and Production Sharing Contract.” Do you agree with this description? If yes, explain; and if not, explain the fiscal regime of Ghana.

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OGMT – Aug 2020 – L1 – Q2 – Ring Fencing

Explain Ring Fencing and its provisions under the Income Tax Act for mining operations.

(a). Explain briefly the concept of Ring Fencing and state how it is provided for in respect of Minerals and Mining Operations under the Income Tax Act, 2015 (Act 896).

(b). Write short notes on Additional Participating Interest and Additional Oil Entitlement.

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