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The Taxation of Natural Resources: Principles and Policy Issues

In: Taxing Choices for Managing Natural Resources, the Environment, and Global Climate Change

Author

Listed:
  • Robin Boadway

    (Queen’s University)

  • Frank Flatters

    (Queen’s University)

Abstract

This chapter by Boadway and Flatters presents principles of taxation of natural resources and policy issues that arise in practice in applying these principles. They discuss three alternative “ideal” ways for the government to divert a share of rents to the public sector: (a) levy a cash flow tax on rents; (b) require firms to bid for the rights to exploit resources; and (c) take a share of equity in the firm. They discuss these options in terms of their implications for the ability of firms to obtain finance, the allocation of risk, the share of rents accruing to the public sector, the extent of involvement of foreign firms, and other factors. The time has come in many countries, they say, when gains from a further refinement of imperfect existing taxes on resources are less than replacing them with simpler, more efficient forms of pure rent taxes.

Suggested Citation

  • Robin Boadway & Frank Flatters, 2023. "The Taxation of Natural Resources: Principles and Policy Issues," Springer Books, in: Anwar Shah (ed.), Taxing Choices for Managing Natural Resources, the Environment, and Global Climate Change, chapter 0, pages 17-81, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-22606-9_2
    DOI: 10.1007/978-3-031-22606-9_2
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    Cited by:

    1. Eduardo Engel & Ronald Fischer, 2008. "Optimal Resource Extraction Contracts under Threat of Expropriation," Levine's Bibliography 122247000000001833, UCLA Department of Economics.
    2. Ragimun Abdullah & Haula Rosdiana & Milla Sepliana Setyowati, 2021. "Strengthening of the Coal-Gasification Industry: Evidence from Indonesia," Journal of Economics and Behavioral Studies, AMH International, vol. 13(5), pages 55-62.
    3. Julien Daubanes & Pierre Lasserre, 2011. "Optimum Commodity Taxation with a Non-Renewable Resource," CER-ETH Economics working paper series 11/151, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    4. Patrick Gonzalez, 2013. "Taxing a Natural Resource with a Minimum Revenue Requirement," Cahiers de recherche CREATE 2013-6, CREATE.
    5. Sabaté, Oriol & Peres-Cajías, José, 2021. "Guerra, recursos naturales y hacienda pública: el caso de la Guerra del Pacífico (1879-1883)," Documentos de trabajo 1/2021, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana.
    6. Michaels, Guy, 2010. "Challenges for research on resource-rich economies," LSE Research Online Documents on Economics 55256, London School of Economics and Political Science, LSE Library.
    7. Boadway, Robin, 2005. "Income tax reform for a globalized world: The case for a dual income tax," Journal of Asian Economics, Elsevier, vol. 16(6), pages 910-927, December.
    8. Leiva, Benjamin, 2020. "Natural resource rent allocation, government quality, and concession design: The case of copper in Chile," Resources Policy, Elsevier, vol. 68(C).
    9. Klomp, Jeroen & de Haan, Jakob, 2016. "Election cycles in natural resource rents: Empirical evidence," Journal of Development Economics, Elsevier, vol. 121(C), pages 79-93.
    10. Lei, Qiu & Huang, Weiyun & Zhao, Fang & Sarwar, Saima & Chaudhary, Muhammad Gulzaib, 2023. "The importance of public sector size and resources volatility in carbon emissions: Empirical evidence from OECD countries," Resources Policy, Elsevier, vol. 85(PA).
    11. Orlov, Anton & Aaheim, Asbjørn, 2017. "Economy-wide effects of international and Russia's climate policies," Energy Economics, Elsevier, vol. 68(C), pages 466-477.
    12. Giorgio Brosio & Juan Pablo Jiménez, 2012. "The intergovernmental allocation of revenue from natural resources: finding a balance between centripetal and centrifugal pressure," Chapters, in: Giorgio Brosio & Juan P. Jiménez (ed.), Decentralization and Reform in Latin America, chapter 10, pages iii-iii, Edward Elgar Publishing.
    13. Sylvain Rossiaud, 2014. "Opening the upstream oil industry to private companies," Working Papers halshs-00960681, HAL.
    14. Brosio, Giorgio & Jiménez, Juan Pablo & Ruelas, Ignacio, 2018. "Territorial inequality, equalization transfers and asymmetric sharing of non-renewable natural resources in Latin America," Macroeconomía del Desarrollo 44368, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    15. Giorgio Brosio & Raju Jan Singh, 2014. "Revenue Sharing of Natural Resources in Africa : Reflections from a Review of International Practices," World Bank Publications - Reports 20062, The World Bank Group.
    16. Orlov, Anton, 2015. "An assessment of proposed energy resource tax reform in Russia: A static general equilibrium analysis," Energy Economics, Elsevier, vol. 50(C), pages 251-263.
    17. Leonardo G. Romeo & Mohamed El Mensi, 2011. "The Difficult Road to Local Autonomy in Yemen: Decentralization Reforms between Political Rationale and Bureaucratic Resistances in a Multi-party Democracy of the Arabian Peninsula," Chapters, in: Jorge Martinez-Vazquez & François Vaillancourt (ed.), Decentralization in Developing Countries, chapter 15, Edward Elgar Publishing.
    18. Claudio Agostini & Pablo Correa & Carla Maldonado & Max Spiess, 2021. "Hoja en blanco: hacia una nueva institucionalidad y régimen tributario para Chile," Estudios Públicos, Centro de Estudios Públicos, vol. 0(161), pages 153-186.
    19. Vining, Aidan R. & Moore, Mark A., 2017. "Potash ownership and extraction: Between a rock and a hard place in Saskatchewan," Resources Policy, Elsevier, vol. 54(C), pages 71-80.
    20. Sylvain Rossiaud, 2015. "L’ouverture de l’amont pétrolier à des compagnies privées. Un cadre d’analyse en termes d’économie des coûts de transaction," Post-Print hal-01162793, HAL.
    21. Jorge Martinez-Vazquez & François Vaillancourt (ed.), 2011. "Decentralization in Developing Countries," Books, Edward Elgar Publishing, number 14175.

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