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Summary“Netherlands Upstream Fiscal and Regulatory Report - Attractive Offshore Fiscal Regime Could See Further Improvements”, GlobalData's latest release, presents the essential information relating to the terms which govern investment into the Netherlands'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 the Netherlands's upstream oil and gas investment climate.Scope- Overview of current fiscal terms governing upstream oil and gas operations in the Netherlands- Detail on legal framework and governing bodies administering the industry- Levels of upfront payments and taxation applicable to oil and gas production- Explanation of the special incentives offered for marginal fields- Assessment of the current fiscal regime's attractiveness to investors- Outlook on future of fiscal and regulatory terms in the NetherlandsReasons to buy- Understand the complex regulations and contractual requirements applicable to the Netherlands'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 Fiscal Take Assessment 54 Key Fiscal Terms 64.1 Upfront Payments 64.1.1 Rentals 64.1.2 Severance Tax (Cijns) 64.2 Direct Taxation 64.2.1 State Profit Share 64.2.2 Corporation Tax 74.2.3 Deductions and Depreciation 74.3 Production Incentives 74.3.1 Small Fields Policy 74.3.2 Marginal Field Tax Allowance 74.3.3 R&D Incentives 84.4 Indirect Taxation 84.4.1 Value Added Tax 84.4.2 Import Duty 84.4.3 EU Emissions Trading Scheme 85 Regulation and Licensing 95.1 Legal Framework 95.1.1 Governing Law 95.1.2 Contract Type 95.1.3 Title to Hydrocarbons 95.2 Institutional Framework 105.2.1 Licensing Authority 105.2.2 Regulatory Agency 105.2.3 National Oil Company 115.3 Licensing Process 115.3.1 Qualification 115.3.2 Bidding 115.4 License Terms 115.4.1 Duration and Relinquishment 115.4.2 Obligations 125.5 State Participation 125.6 Environmental Regulation 125.7 Restrictions on Hydraulic Fracturing 136 Outlook 147 Contact Information 151.1 List of TablesTable 1: Summary 3Table 2: Netherlands, Rental Fees, 2015 6Table 3: Netherlands, Onshore Severance Tax Rates, 2015 6Table 4: Netherlands, Historical Corporation Tax Rates (%), 1984-2015 7Table 5: Annual Government Fallow Acreage Relinquishment Procedure Timeline 121.2 List of FiguresFigure 1: Regime Flow Chart 4Figure 2: Netherlands, Indicative NPV10/boe, IRR and Fiscal Take Comparison - Regional, 2015 5Figure 3: Netherlands, Indicative NPV10/boe, IRR and Fiscal Take Comparison - Resource Peer Group, 2015 5Figure 4: Netherlands, Legal Framework 9Figure 5: Netherlands, Institutional Framework 10