There are few areas of economic policy-making in which the returns to good decisions are so high—and the punishment of bad decisions so cruel—as in the management of natural resource wealth. Rich endowments of oil, gas and minerals have set some countries on courses of sustained and robust prosperity; but they have left others riddled with corruption and persistent poverty, with little of lasting value to show for squandered wealth. And amongst the most important of these decisions are those relating to the tax treatment of oil, gas and minerals.
This book will be of interest to Economics postgraduates and researchers working on resource issues, as well as professionals working on taxation of oil, gas and minerals/mining.
Preface
1. Introduction Part 1: Conceptual Overview
2. Theoretical
Perspectives on Resource Tax Design
3. Principles of Resource Taxation for
Low-Income Countries Part 2: Sectoral Experiences and Issues
4. Petroleum
Fiscal Regimes: Evolution and Challenges
5. International Mineral Taxation:
Experience and Issues
6. Natural Gas: Experience and Issues Part 3: Special
Topics
7. Evaluating Fiscal Regimes for Resource Projects: An Example from
Oil Development
8. Resource Rent Taxes: A Re-Appraisal
9. State Participation
in the Natural Resources Sectors: Evolution, Issues and Outlook
10. How Best
to Auction Natural Resources Part 4: Implementation
11. Resource Tax
Administration: The Implications of Alternative Policy Choices 12 Resource
Tax Administration: Functions, Procedures and institutions
13. International
Tax Issues for the Resources Sector Part 5: Stability and Credibility
14.
Contractual Assurances of Fiscal Stability
15. Time Consistency in Petroleum
Taxation: Lessons from Norway
Philip Daniel is Deputy Head, Tax Policy Division, in the Fiscal Affairs Department of the International Monetary Fund.
Michael Keen is Assistant Director in the Fiscal Affairs Department of the International Monetary Fund, where he was previously head of the Tax Policy and Tax Coordination divisions.
Charles McPherson is Technical Assistance Adviser in the Fiscal Affairs Department of the International Monetary Fund with particular responsibilities for fiscal and financial policies in resource rich countries.
