10 How best to auction natural resources
Author:
International Monetary Fund
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Language:
English
Print Publication Date:
19 Apr 2010
Keywords:
BOOK; government; country; economic rent; State participation; rate of return; tax authorities; cash flow; government share; host government; Resource rent tax; Oil; Tax administration core functions; Corporate income tax; Oil sector; Africa; Global; North America; Caribbean; Sub-Saharan Africa

Abstract

This chapter examines the design of auctions for natural resources, such as oil and mineral rights, focusing especially on issues faced in developing countries. Of course, auctions are not the only approach to assigning oil and mineral rights. Rights are sometimes assigned via informal processes, such as first-come-first-served, or other formal processes, such as beauty contests (an administrative process). The advantage of an auction is that it is a competitive and transparent method of assignment, which if well designed, can maximize revenues for the developing country.

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Cover The Taxation of Petroleum and Minerals
The Taxation of Petroleum and Minerals
Principles, Problems and Practice
ISBN:
9780415781381
Publication Date:
19 Apr 2010
Publisher:
Routledge
DOI:
https://doi.org/10.5089/9780415781381.071
Pages:
471