New annual taxes on exclusive exploration permits for hydrocarbons and geothermal deposits
The 2017 Amending Finance Act creates two annual taxes proportional to the area of exclusive exploration permits, payable by the permit holder: on liquid or gaseous hydrocarbons (€5/km² in the first period, €10/km² after the first extension, €30/km² after the second) and on high-temperature geothermal deposits (€2, €4 then €12/km²). The revenue goes to the departments, or to the territorial authorities of French Guiana or Martinique, where the permit is located.
Measure originators
A positive amount is revenue or savings for public finances; a negative amount is a cost or lost revenue.
Measure impact
About fifteen holders of hydrocarbon exploration permits and a few geothermal permit holders. Example from the impact assessment: €13,000 a year for the largest mainland permit (2,650 km²). Revenue estimated at €810,000 in 2018 for hydrocarbons and €40,000 for geothermal energy.
Official references
Sources
Procedure timeline
Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.
Administrative implementation
Entrée en vigueur de la mesure et mise en œuvre par l'administration
Possible referral to Constitutional Council
Décision de conformité / censure partielle
President of the Republic signature
Publication au Journal officiel
National Assembly has the final say
Si échec CMP
Joint committee
Désaccord éventuel
Debate and vote
Debate and vote
Débat et vote en séance publique à l'Assemblée nationale, ou engagement de la responsabilité du Gouvernement (article 49.3)