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Tax Effects Upon Oil Field Development in Venezuela

Osmel Manzano

出版	Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research, 2000
URL	http://books.google.com.hk/books?id=u4zlNwAACAAJ&hl=&source=gbs_api

註釋

Important reforms have been made to the oil sector tax code in Venezuela. Given its diversity of oil resources, there was a concern that some resources were not being exploited because of the structure of the tax code. This paper uses traditional theoretical models to review these reforms. Then, a panel of 821 Venezuelan oil fields was used to estimate the effects of the reforms. The major conclusion reached is that reforms based on the development of marginal fields -fields that will not produce because of the tax structure- may overlook the distortions generated by the tax system in non-marginal fields, distortions that can be greater than is the case in marginal fields.