Iraq

354 Employees

Third-party revenues

$0
Related-party revenues

$662
Total revenues

$662
Profit before tax

$(13,840,342)
Tax paid

$0
Tax accrued

$0
Tangible assets

$54,576
Stated capital

$0
Accumulated earnings

$0

Main Business Activities

Upstream and Integrated Gas

In 2013, Shell entered into the Basrah Gas Company (BGC), a joint venture with Iraq's South Gas Company and Mitsubishi. BGC focuses on processing gas that would otherwise have been flared, supplying this to the government of Iraq for power generation. The Shell entity which is a shareholder in BGC is based in the Netherlands. Shell’s share of results from BGC, which is an equity-accounted investment, is included in the country report for the Netherlands.

Country Financial Analysis

The statutory corporate income tax rate in Iraq is 15%.

Taxes are paid in arrears.

Corporate income tax

This is a direct tax imposed on companies’ profits. It is sometimes levied at a national level but can also be levied on a state or local basis.

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Country

Throughout this report, “country” is used as the primary descriptor for a geographical area because that is the word used by the OECD/G20 Base Erosion and Profit Shifting (BEPS) project in their proposal for country-by-country reporting (CbCR). This is one of the four minimum reporting standards to which over 100 countries have committed, covering the tax residence jurisdictions of nearly all large multinational enterprises (MNEs). In this report “country” may also refer to locations, jurisdictions or territories which have their own tax regimes or discrete rules.

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Iraq

354 Employees

Main Business Activities

Country Financial Analysis

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