秘鲁亏损弥补和篱笆圈规定对油气投资项目纳税及经济效益影响分析  

Influence of making up the deficit and ring-fence rule in Peru on taxation and economic performance of oil and gas investment projects

作　　者：朱斌 李勇明 李世群 朱磊 李晓锋 ZHU Bin;LI Yongming;LI Shiqun;ZHU Lei;LI Xiaofeng(CNPC PERU Corporation)

机构地区：[1]中国石油秘鲁公司

出　　处：《国际石油经济》2024年第9期68-77,共10页International Petroleum Economics

摘　　要：资源国有关亏损弥补和篱笆圈财税条款会影响油气投资项目纳税及经济效益。秘鲁国家财税制度的特别之处主要在于规定了两种亏损弥补方式,且同一公司持有的不同油气区块间不存在篱笆圈,这两条规定的结合为石油公司在秘鲁开展税收筹划以减少纳税、提高油气项目经济效益提供了空间。通过情景假设和模型测算,证明秘鲁的同一油气区块在不同税前利润情景下选择合适的亏损弥补方式可以减少纳税和提高项目经济效益。当石油公司在秘鲁获取两个以上区块时,通过提前统筹谋划区块的获取顺序和投产时间等,可以充分利用区块间合并纳税的优惠政策提高整体投资效益。在进行秘鲁油气项目投资组合评价时,应重视亏损弥补方式的选择和区块间合并纳税的影响。The fiscal terms for making up the deficit and ring-fence in resource-countries will affect the taxation and economic performance of oil and gas investment projects.In Peru's national fiscal and taxation system,it's unique that there are two methods for making up the deficit.In addition,there is no ring-fence between oil and gas blocks held by one company.Combining the two fiscal regulations,oil companies in Peru can implement tax planning to reduce taxes and improve project investment benefits.Through scenario assumptions and model calculation,it is proven that selecting an appropriate making up the deficit method for a certain oil and gas block under different pre-tax profit scenarios can reduce tax payment and improve economic efficiency.When oil companies acquire two or more blocks in Peru,they can make full use of the preferential policies of combined taxation between blocks to improve overall investment benefits by planning the acquisition sequence and the date of operation start-up of the blocks in advance.When evaluating the investment portfolio of Peru's oil and gas projects,it is important to pay attention to the choice of loss recovery methods and the impact of consolidated tax payments between blocks.

关 键 词：财税条款 亏损弥补 篱笆圈 油气项目 应纳税额 经济效益 投资组合 

分 类 号：F43[经济管理—产业经济] F47F424.6F416.22