High-Level Summary Technical Assistance Report: Namibia –Petroleum Fiscal Regime Review

Following a surge in petroleum sector exploration, the Namibian authorities requested a review of their petroleum upstream fiscal regime. The petroleum fiscal regime balances investor and government interests and is fit for purpose although untested in practice.
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Volume/Issue: Volume 2024 Issue 023
Publication date: June 2024
ISBN: 9798400279591
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Taxation - General , government interest , Namibian authorities , petroleum sector policy design , inter-agency petroleum modeling team , petroleum sector regulator , Oil , gas and mining taxes , Oil

Summary

Following a surge in petroleum sector exploration, the Namibian authorities requested a review of their petroleum upstream fiscal regime. The petroleum fiscal regime balances investor and government interests and is fit for purpose although untested in practice. A number of recommended policy measures if implemented would provide clarity and simplicity for taxpayers while safeguarding government revenue collections. Fiscal transparency can be enhanced by publishing petroleum agreements while the costs and benefits of state participation should be considered.