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Summary“Denmark Upstream Fiscal and Regulatory Report - Incentives Introduced for Investments from 2017 to 2025”, presents the essential information relating to the terms which govern investment into Denmark's upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the state's take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Denmark's upstream oil and gas investment climate.Scope- Overview of current fiscal terms governing upstream oil and gas operations in Denmark- Assessment of the current fiscal regime's state take and attractiveness to investors- Charts illustrating the regime structure, and legal and institutional frameworks- Detail on legal framework and governing bodies administering the industry- Levels of upfront payments and taxation applicable to oil and gas production- Information on application of fiscal and regulatory terms to specific licenses- Outlook on future of fiscal and regulatory terms in DenmarkReasons to buy- Understand the complex regulations and contractual requirements applicable to Denmark's upstream oil and gas sector- Evaluate factors determining profit levels in the industry- Identify potential regulatory issues facing investors in the country's upstream sector- Utilize considered insight on future trends to inform decision-making
1 Table of Contents1 Table of Contents 11.1. List of Tables 21.2. List of Figures 22. Regime Overview 33. State Take Assessment 54. Key Fiscal Terms 64.1. Royalties, Bonuses and Fees 64.1.1. License Fee 64.1.2. Royalties (Abolished) 64.2. Profit Share (Sole Concession 2004-2012) 64.3. Direct Taxation 74.3.1. Corporate Income Tax 74.3.2. Hydrocarbon Tax 74.3.3. Additional Tax in High Oil Price 84.3.4. Deductions and Depreciation 84.3.5. Withholding Tax 94.4. Indirect Taxation 94.4.1. Value Added Tax 94.4.2. Import Duty 94.5. EU Emissions Trading Scheme 94.6. Oil Pipeline Tariff/Compensatory Fee (Abolished) 95. Regulation and Licensing 105.1. Legal Framework 105.1.1. Governing Law 105.1.2. Contract Type 115.1.3. Title to Hydrocarbons 115.2. Institutional Framework 115.2.1. Licensing Authority 125.2.2. Regulatory Agency 125.2.3. National Oil Company 125.3. Licensing Process 125.3.1. Open Door Procedure 125.3.2. Licensing Rounds 125.3.3. Contents of Application 125.3.4. Selection Criteria 135.4. License Terms 135.4.1. Duration 135.4.2. Work Obligations 135.5. Local Content 135.6. State Participation 146. Outlook 157. Appendix 167.1. Contact Us 167.2. Disclaimer 161.1 List of TablesTable 1: Regime Overview 3Table 2: Denmark, Royalty Rates for 2nd Round Licenses (Abolished 2014) 6Table 3: Denmark, Corporate Tax Rate, 2015 7Table 4: Denmark, Depreciation Rates 81.2 List of FiguresFigure 1: Regime Flow Chart 4Figure 2: Denmark, Indicative NPV10/boe, IRR and State Take Comparison, Regional 5Figure 3: Denmark, Legal Framework 10Figure 4: Denmark, Institutional Framework 11