Iran

In early 2016, following the implementation day of the Iran nuclear deal, Shell explored how to progress business opportunities in the energy sector with the Iranian government. However, following geopolitical developments in 2018, Shell suspended its Iran-related activities until further notice.

Country Financial Analysis

The statutory corporate income tax rate in Iran is 25%.

The activities pertaining to Iran have been conducted outside the USA by non-US affiliates of Royal Dutch Shell plc. None of the payments disclosed were made in US dollars, nor are any of the balances disclosed held in US dollars. However, for disclosure purposes, all have been converted into US dollars at the appropriate exchange rate.

For more details, refer to the Section 13(R) of the US Securities Exchange Act of 1934 and the Shell Form 20-F for 2019 (p. 219).