Tax effects upon oil field development in Venezuela
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 p...
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| Format: | Working Paper |
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MIT Center for Energy and Environmental Policy Research
2009
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| Online Access: | http://hdl.handle.net/1721.1/44970 |
| _version_ | 1811074008805801984 |
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| author | Manzano, Osmel |
| author2 | Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research. |
| author_facet | Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research. Manzano, Osmel |
| author_sort | Manzano, Osmel |
| collection | MIT |
| description | 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. |
| first_indexed | 2024-09-23T09:41:38Z |
| format | Working Paper |
| id | mit-1721.1/44970 |
| institution | Massachusetts Institute of Technology |
| last_indexed | 2024-09-23T09:41:38Z |
| publishDate | 2009 |
| publisher | MIT Center for Energy and Environmental Policy Research |
| record_format | dspace |
| spelling | mit-1721.1/449702019-04-10T11:14:26Z Tax effects upon oil field development in Venezuela Manzano, Osmel Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research. 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. Supported by the MIT Center for Energy and Environmental Policy Research. 2009-04-03T17:04:32Z 2009-04-03T17:04:32Z 2000 Working Paper 2000-006 http://hdl.handle.net/1721.1/44970 52316780 MIT-CEEPR (Series) ; 00-006WP. 62 p application/pdf MIT Center for Energy and Environmental Policy Research |
| spellingShingle | Manzano, Osmel Tax effects upon oil field development in Venezuela |
| title | Tax effects upon oil field development in Venezuela |
| title_full | Tax effects upon oil field development in Venezuela |
| title_fullStr | Tax effects upon oil field development in Venezuela |
| title_full_unstemmed | Tax effects upon oil field development in Venezuela |
| title_short | Tax effects upon oil field development in Venezuela |
| title_sort | tax effects upon oil field development in venezuela |
| url | http://hdl.handle.net/1721.1/44970 |
| work_keys_str_mv | AT manzanoosmel taxeffectsuponoilfielddevelopmentinvenezuela |