Facing the challenges of oil price fluctuations and their impact on the income tax of foreign oil companies

Abstract

The research seeks to identify the oil prices and the factors affecting them, and then to the types of oil contracts and the income tax on foreign oil companies, this is in the theoretical aspect. As for the practical aspect, the laws, instructions and tax controls approved in Iraq were reviewed, and then the tax revenue for a sample of oil companies in Iraq and the mechanism Tax accounting for foreign companies, and perhaps the most important conclusions reached by the research, the most important of which is that “there is joint cooperation between the Ministry of Oil and the General Tax Authority, as the foreign partner’s share is not paid until after taxes are deducted, which is 35%.”