Fiscal Regimes for Extractive Industries—Design and Implementation

Date:	August 16, 2012
Electronic Access:	Full Text
Summary:Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: النظم المالية العامة للصناعات الاستخراجية: التصميم والتطبيق Also available in French: Régimes fiscaux des industries extractives: conception et application
Series :	Policy Paper
Subject(s):	Fiscal policy | Mining sector | Natural resources | Revenues | Taxation | Tax administration | Transparency