Canada
The extraction companies in Canada pay several kinds of taxes.
The entities extracting oil and natural gas in Canada pay several kinds of taxes:
- federal tax: the base rate is 38 percent but it is lowered in order to leave the "tax leeway" for the local governments of the individual provinces; in 2012 the actual rate of this tax was 28 percent,
- CIT taxes in individual provinces rich in resources range from 10 to 12 percent,
- in the case of projects connected with oil sand extraction (unconventional source) there are slightly different rules of calculating the tax base (the tax rates themselves are all the same) - the sands are treated as "mineral resources" and not as typical "oil and gas" which has certain consequences in taxing accounting matters.
- in Alberta there is a commission deducted from the resource extracted from a given deposit; it depends on the quantity of the produced resource and from the current prices of oil or gas; the commission value ranges from 1 to 9 percent in projects that have not achieved commercial scale and for 25 to 40 percent of commercial projects, the tax base is calculated every month,
- other provinces also deduct commissions which are calculated similarly as in Alberta (depending on the resource production and type) and they range from 10 to 45 percent.