In 2003, ITIC launched a triangle project bringing together leading public finance and legal experts in the petroleum sector with public-sector officials from the Iraqi Government and industry representatives to develop tax, legal and regulatory options for the redevelopment of the Iraqi petroleum sector. ITIC commissioned a study, published as "Petroleum and Iraq's Future: Fiscal Options and Challenges," and assembled experts from Iraqi Ministry of Finance, Ministry of Oil, Ministry of Planning, the International Monetary Fund, World Bank, and international oil companies for an inaugural meeting in Beirut, Lebanon in January 2005. A series of follow-up workshops and studies were conducted, including publication of "Iraq's Oil Future: Finding the Right Framework," by Dr. Carole Nakhle of Surrey Energy Economics Centre, University of Surrey.
The workshops were transformed into ITIC’s Iraq Petroleum Taxation Working Group. This working group meets several times per year in Dubai, Baghdad and as part of the annual MENA Tax Forum. The working group has become an established platform for bringing together senior officials from the General Commission on Taxation (GCT), General Commission on Customs (GCC), Ministry of Finance, and the PCLD of the Ministry of Oil with industry tax and finance officers and independent experts.
ITIC's Senior Advisors for the Iraq program are Dr. Azez Jaafar Hassan and Mr. Reggie Mezu.
"The ITIC meetings provide a place for my colleagues to sit with the IOCs to clearly understand how contract regimes work in other countries."
"As Libya looks to reform its policies to make it more competitive, it's important that we understand best practices in the region and around the world. We want to thank ITIC for this workshop to help bring us this knowledge."