Guyana

Argentina
Brazil S
O
Chile U
T
Colombia H

Ecuador A
M
Peru E
R
Uruguay .
Venezuela

C
A
Trinidad and Tobago R
I
C
O
M
 Fiscal Regime (PSA-Production Sharing
Agreement, SVC - Service Contract,
Country CON - Concession) Other Revenue Source(s)

GUYANA PSA Royalties

Royalties, Corporate Income Tax

(CIT), Withholding Tax
ARGENTINA PSA, CON (WHT),Turnover Tax

Royalties, Corporate Income Tax

(CIT), Profits-based Special Taxes,
BRAZIL PSA, CON Withholding Taxes (WHT)

CHILE CON Corporate Income Tax (CIT)

Royalties, Corporate Income Tax

(CIT), Profits-based Special Taxes,
COLOMBIA CON Withholding Taxes (WHT)

Royalties, Corporate Income Tax

(CIT), Exploration and Exploitation
EQUADOR PSA, SVC Service Fee, Sovereignty Margin

Royalties, Corporate Income Tax

PERU SVC (CIT)

Royalties, Corporate Income Tax

URUGUAY CON (CIT)
 Royalties - 33.33% of crude oil
extracted, Corporate Income Tax
(CIT) - 50% of net profits, Tax on
Capital Gains - 50%, Alternative
Minimum Tax (AMT) - 50% on
VENEZUELA CON gross profits

Royalties - 12.5% of crude oil and

natural gas extracted, Petroleum
Profits Tax (PPT) - 50% of taxable
profits, Petroleum Production
Levy- 4% of income from crude
oil, Unemployment Levy (UL) - 5%
of taxable profits, Corporate
TRINIDAD AND Income Tax (CIT), Green Fund Levy
TOBAGO PSA, CON - 0.3% of gross sales
VAT Application (NA - Not
Applied) VAT Rate

Imports 14%

Import of goods, services. 21%

Manufacturing, Imported Assets 0%-365%

Sales, Services, Real Estate 19%

Sales, Services, Imports 19%

Imports, Provision of Goods and

Services 12%

Construction, Sales in Peru 18%

Goods,Services in Uruguay 22%

Sale of tangible property, the
final import of goods, the
rendering of services in
exchange for payment, the
export of tangible property and
the export of services. 16%

Imports 12.50%
Key Points
It should be noted that concessions may be available in respect of the
applicability of VAT in the petroleum sector.

This rate is reduced for certain taxable events

(e.g., sales, manufacturing, fabrication or construction, and definitive imports
of goods that qualify as “capital assets” according to a list included in the VAT
law and on interest, commissions and fees on loans granted by financial
institutions, subject to certain conditions).

According to the Brazilian Federal Constitution, local sales, intrastate sales or the
importation of oil products, including crude oil and its by-products, are not
subject to the Federal VAT (IPI) tax.

The VAT rate on imported goods for the oil and gas sector is generally 19%.

The VAT rate on imported goods for the oil and gas sector is generally 19%.

VAT paid on the purchase of goods or services to produce exported goods may
be recovered (this benefit is not applicable in the case of the oil and gas
industry).

The import of goods and inputs required for exploration activities is free from
any taxes (based on a list detailing such goods approved by the Government
authorities).

As long as the extracting company is VAT-registered (as a PE, subsidiary or

other structure), it can recover input VAT on local purchases of goods and
services.
Sales of hydrocarbons by mixed companies to PDVSA are considered exports
from a VAT perspective, and are subject to zero (0%) VAT rate.

It should be noted that natural gas, crude oil, and specified vessels and
rigs used in offshore drilling and exploration are zero-rated goods and,
therefore, are subject to VAT at the rate of 0%.
COUNTRY GDP GROWH DATA (10 YEARS)
YEARS 2009 2010 2011 2012 2013 2014 2015 2016
Guyana 3.55% 4.14% 5.20% 5.28% 5.00% 3.85% 3.16% 3.32%
Argentina -5.92% 10.13% 6.00% -1.03% 2.41% -2.51% 2.73% -2.08%
Brazil -0.13% 7.53% 3.97% 1.92% 3.00% 0.50% -3.55% -3.31%
Chile -1.56% 5.84% 6.11% 5.32% 4.05% 1.77% 2.30% 1.67%
Colombia 1.21% 4.35% 7.36% 3.90% 4.57% 4.73% 2.96% 2.09%
Ecuador 0.57% 3.53% 7.87% 5.64% 4.95% 3.79% 0.10% -1.23%
Peru 1.10% 8.33% 6.33% 6.14% 5.85% 2.38% 3.26% 3.96%
Uruguay 4.24% 7.80% 5.16% 3.54% 4.64% 3.24% 0.37% 1.69%
Venezuela -3.20% -1.49% 4.18% 5.63% 1.34% -3.89% ECONOMIC CRISIS
Trinidad and Tobago -4.39% 3.32% -0.29% 1.29% 2.01% -0.97% 1.78% -6.51%
 2017 2018 MEAN S.D
2.08% 3.44% 3.90% 0.01
2.67% -2.51% 0.99% 0.05
1.06% 1.12% 1.21% 0.03
1.28% 4.02% 3.08% 0.02
1.35% 2.66% 3.52% 0.02
2.37% 1.38% 2.90% 0.03
2.52% 3.98% 4.39% 0.02
2.59% 1.62% 3.49% 0.02
0.43% 0.04
-1.90% 0.70% -0.50% 0.03
2.34% 0.03