The IMF report on petroleum taxation and revenue management (Part I)

In last week’s article, we mentioned some of the key findings contained in the IMF report entitled “Guyana: A reform Agenda for Petroleum Taxation and Revenue Management”, dated November 2017. Those findings were gleaned from the various media reports. With the benefit of sight of a copy of the report, we now highlight, without comment, key aspects of the report which readers may find of interest as they reflect on the petroleum agreement between the Government of Guyana and ExxonMobil’s subsidiaries (Esso Exploration and Production Guyana Ltd., CNOOC Nexen Petroleum Guyana Ltd. and Hess Guyana Exploration Ltd.).

The report contains an Executive Summary and five chapters, namely: (i) Introduction (ii) Fiscal regimes for extractive industries; (iii) Extractive industries revenue management; (iv) A roadmap for petroleum sector reforms; and (v) Possible technical assistance and capacity building.

Executive Summary

The key findings are as follows:….

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The IMF report on petroleum taxation and revenue management (Part II)

Last week, we began to highlight the key findings contained in the IMF report entitled “Guyana: A reform Agenda for Petroleum Taxation and Revenue Manage-ment” dated November 2017.

The IMF reports on GRA, and petroleum taxation and revenue management

Accountability Watch welcomes last Thursday’s release of the agreement between ExxonMobil’s subsidiaries and the Government of Guyana, notwithstanding that it was not a voluntary act on the latter’s part.

Assessing Guyana’s economic performance in 2017 and the 2018 budget measures (Part II)

The Conflict of Interest and Ethics Commissioner of Canada has found that Prime Minister Justin Trudeau violated some provisions of the Conflict of Interest Act when he vacationed last Christmas season on a private island owned by the Aga Khan, including the use of the Agha Khan’s private helicopter.

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Government has failed its first test of transparency and proper accountability for oil revenues

In our last article, we referred to the US$18 million signing bonus that the Government received from ExxonMobil.

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Assessing Guyana’s economic performance in 2017 and the 2018 budget measures (Part I)

We must all express our gratitude and appreciation to Mr. Christopher Ram for disclosing that the Government was in receipt of a signing bonus of US$20 million from ExxonMobil.

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