Administering Fiscal Regimes for Extractive Industries : A Handbook.

Cover -- Contents -- Foreword -- Acknowledgments -- Introduction and Overview -- Abbreviations and Acronyms -- CHAPTER 1 WHAT'S SPECIAL ABOUT NATURAL RESOURCE REVENUE ADMINISTRATION? -- What's Special about Natural Resources? -- A Simple Business? -- Nonrenewability -- Varied Scale and Profitability -- Rent-Generating Potential -- Uncertainty and Risk -- Need for Substantial Capital Investment and Technological Expertise -- Long Development and Operating Periods -- High Sunk Costs and Abandonment Costs -- Geographic Concentration -- High Level of Exports and Imports -- Distinctive Commercial Risk-Sharing Arrangements -- Transfers of Natural Resource License Interests -- State Control and Ownership -- Poor Governance -- Consequences for Natural Resource Revenue Administration -- Logical Framework for Evaluating and Strengthening Natural Resource Revenue Administration -- CHAPTER 2 POLICY AND LEGAL FRAMEWORK -- Accessibility of Natural Resource Taxation Law -- Tax Administration and Tax Policy -- Implementation and Design of Natural Resource Taxes -- Royalties Versus Profit and Rent Taxes -- Unnecessary Complexity of Natural Resource Taxation -- Badly Designed Natural Resource Fiscal Provisions -- Stability Clauses -- Nontax Revenues -- Government Equity Participation -- Community Service and Infrastructure Obligations -- CHAPTER 3 ORGANIZATION AND COOPERATION -- Organization of Natural Resource Revenue Administration between Agencies -- Integrated Administration by Tax Department -- Fragmented Administration -- Integrated Administration by Natural Resource Department or National Resource Company -- Transfer of Responsibilities to Tax Department -- Natural Resource Department Responsibilities -- National Resource Company Responsibilities -- Provincial and Local Government Responsibilities -- Nuisance Tax Responsibilities.

Organization of Natural Resource Revenue Administration within the Tax Department -- Cooperation and Exchange of Information -- Obstacles to Integrated Administration and Second Best Options -- CHAPTER 4 PROCEDURES -- Tax Procedure Codes -- Routine Functions -- Registration -- Returns, Assessments, Payments: Importance of Self-Assessment -- Simplifying Routine Procedures -- Nonroutine Functions -- Risk Assessment and Management -- Segmentation and Compliance Strategy -- Enforcement -- Taxpayer Services -- Physical Audit -- Benchmark Pricing -- Audit -- Appeals and Dispute Resolution -- CHAPTER 5 GOVERNANCE AND TRANSPARENCY -- Clarity of Roles and Responsibilities -- Open Budget Processes -- Public Availability of Information -- EITI -- Assurances of Integrity -- CHAPTER 6 ADMINISTRATIVE CAPACITY -- Sta Numbers -- Salaries -- Recruitment -- Training -- Performance Management -- Information Technology -- Funding and Autonomy -- The Role of the Private Sector -- Implementing Reform Successfully -- APPENDIX 1 SPECIAL NATURAL RESOURCE TAX PROVISIONS -- Natural Resource Valuation and Transfer Pricing -- Financing Costs -- Hedging -- General Conditions for Tax Deductibility of Costs -- Ring-Fencing of Costs -- Tax Holidays -- Capital Expenditure -- Social Infrastructure Costs -- License Transfers -- Unitizations and Redeterminations -- Withholding Taxes and Double Tax Agreements -- VAT and Customs Import Exemptions -- Domestic Processing and Consumption Incentives -- APPENDIX 2 ILLUSTRATIVE HARMONIZED ADMINISTRATIVE FRAMEWORK FOR NATURAL RESOURCE TAXATION -- APPENDIX 3 THE ROLE OF ECONOMIC MODELING -- APPENDIX 4 SAMPLE ANNUAL REPORT ON NATURAL RESOURCE REVENUES -- References -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- U -- V -- W.

Revenues from natural resources often pose unique challenges for tax administration. This Handbook is one of the first of its kind to focus attention on effectively administering revenues from extractive industries. It provides policymakers and officials in developing and emerging market economies with practical guidelines to establish a robust legal framework, organization, and procedures for administering revenue from these industries. It discusses transparency and how to promote it in the face of increasing demands for clarity and accountability in the administration of public revenues from extractive industries, and discusses how developing countries can strengthen their managerial and technical capacity to administer these revenues.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.