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Vol 23 No 11 Nov/Dec 2018

Book of the Month

Cover of Paget's Law of Banking

Paget's Law of Banking

Edited by: John Odgers, Pagets
Price: £559.99

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Lexis banking
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Tolley's International Taxation of Upstream Oil and Gas 2nd ed

ISBN13: 9780754555421
Previous Edition ISBN: 9780754550099
Published: December 2017
Publisher: LexisNexis Butterworths
Country of Publication: UK
Format: Paperback
Price: £146.95

Low stock.

The scope of this title is to introduce and review significant international tax issues for upstream oil and gas operations.

The book is based on introducing and explaining practical upstream tax issues, with an emphasis on tax risk management and related tax planning. Readers will develop skills in identifying tax exposures and opportunities, managing tax negotiations, and applying tax planning solutions.

The book is intended to benefit accountants, lawyers, economists, financial managers and government officials. The book aims to be the first choice for the new starter in upstream oil and gas taxation.

It also aims to be the best introduction of international tax issues relating to upstream oil and gas, enabling the reader to analyse and understand new situations and circumstances, rather than an encyclopaedic reference of tax issues.

Taxation, Energy and Natural Resources Law
Chapter I. Introduction
1. Upstream Oil and Gas - Background
2. Oil and Gas Producing Countries
3. Largest Upstream Companies
4. Largest Service Providers
Chapter II. International Tax
1. Introduction
2. International Investment
3. International Income Flows
4. Transfer Pricing
5. Domestic Tax Laws
6. Tax Treaties
Chapter III - Tax Regimes
1. Concession Regimes Tax and Royalties
2. Production Sharing Contracts Profit and Cost Oil
3. Service Contract Regimes
4. Royalties
5. Production and Signature Bonuses
6. Area Rentals
7. State Equity and Carried Interests
8. Excise Tax
9. Indirect Taxes - VAT and State taxes
Chapter IV - Country Tax Regimes - Examples and Selected Issues
1. Introduction
2. Algeria
3. Angola
4. Australia
5. Brazil
6. Canada
7. Denmark
8. Greenland
9. Kazakhstan
10. Mexico
11. Nigeria
12. Norway
13. Qatar
14. Saudi Arabia
15. United Kingdom
16. United States
Chapter V - Tax Rate Increases and Bilateral Investment Treaties
Chapter VI - Foreign Exploration Losses
Chapter VII - Oil and Gas Operations and Permanent Establishments
1. Permanent Establishments
2. Contracting Services
3. External Consortium
4. Tripartite Agreements
5. Tax Grossing Up
6. Recovery if Withholding credited
Chapter VIII - Capital Gains
1. Holding Companies
2. Treaty protection
3. Tax Treaty Example - Netherlands
4. Tax Treaties and Indirect Transfers - Australia
Chapter IX - Mergers and Acquisitions
1. Acquire Assets or Target Company
2. Interest Deductions - Debt Push Down
3. Depreciation and Asset Step Up
4. Tax Losses
5. Merger Relief
6. Sale and Purchase Agreements
7. M&A Issues to Review
8. Seller Warranties
9. Seller imposing tax on Purchaser - Grossing Up
10. Buyer Protection - Indemnity Clause
11. Tax Due Diligence
12. Buyers Information Request List
13. Input to Financial Modelling
14. Accounts and Deferred Tax Balances
Chapter X - Intellectual Property
1. Oil and Gas IP Structures
2. Switzerland
3. Netherlands
4. Luxembourg
5. United Kingdom
6. Brazil
Chapter XI - Leasing
1. Introduction
2. Operating Leasing and Permanent Establishments
3. Sale and Leaseback
4. Singapore Example
5. Specific Assets
6. Tax Treaties - Leasing into the USA
Chapter XII - Decommissioning
Chapter XIII - Oil and Gas Financing
1. Introduction
2. Group treasury centres and In-house banking
3. Thin capitalization
4. Controlled Foreign Corporation (Subpart F)
5. Hybrid Entities and Hybrid Securities
6. Sale and Repurchase (Repo) - USA and UK
7. Interest on Share Equity - Brazil
8. Limited Partnership - China
Chapter XIV - Profit Repatriation and Planning
1. Branches and Head Office Costs
2. Subsidiaries and Dividends
3. Capital Gains
4. Technical Service and Administration Fees
Chapter XV - Procurement
1. Planning Structures
2. Netherlands, Hong Kong and Singapore
Chapter XVI - Oil and Gas Trading
1. Planning Structures
2. Derivatives - Options, Forwards and Swaps
3. Switzerland
Chapter XVII - Transfer Pricing Concepts
1. OECD and UN approaches
2. Branch Profit Allocation
3. Defence Files and Audit
4. TP and Tax Treaties
5. Advance Pricing Agreements (APAs)
Chapter XVIII - Transfer Pricing and Upstream Oil and Gas
1. Oil and Gas Sales
2. Seismic Surveys
3. Drilling
4. Financial and Environmental Guarantees
5. Transfer Pricing and Procurement
6. Transfer Pricing and Oil and Gas Trading
Chapter XIX - Transfer Pricing and Intellectual Property (IP)
1. Intellectual Property in Oil and Gas
2. Royalties or Cost Sharing
3. Performance Based Royalties
Chapter XX - Transfer Pricing and Administration
1. Allocating Costs - Including Finance, IT, HR, and Legal
2. Branch Issues, including capital allocation
Chapter XXI - Transfer Pricing and Financing Structures
Case Studies
I. Tax Treaties and Permanent Establishments - Equipment
II. Tax Treaties and Permanent Establishments - Exploration and Drilling
III. Mergers & Acquisitions - Structuring - Brazil
IV. Mergers & Acquisitions - Due Diligence - Canada
V. Transfer Pricing - Drilling Products
VI. Transfer Pricing - Intellectual Property - USA Oil Co and the IRS