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UK Tax Strategy


Our UK tax strategy is guided by our global commitment to act responsibly and our internal financial risk management process.

Risk Management and Governance

It is our policy to comply with all applicable UK tax legislation, regulations and reporting requirements. We manage our UK tax affairs through our established internal governance framework. We ensure that experienced and senior personnel are involved in identifying, assessing and managing all UK tax risks so that they are accounted for appropriately. Day-to-day management of UK tax affairs is led by our International Tax Manager who reports through the International Finance team.

UK Tax Planning and Tax Risk

In the context of Occidental’s global business, the UK business is relatively small and the taxable profit arising to the UK branches and associated entities is commensurate with Occidental’s activities undertaken in the UK. For the UK branches, profits are attributed in accordance with the guidance issued by the Organization for Economic Co-operation and Development.

In accordance with our core values and internal financial risk management approach, we do not engage in artificial or aggressive UK tax planning, and we adopt a low risk approach when considering our UK tax affairs.

Working with HM Revenue & Customs (HMRC)

As we have been compliant in paying and reporting UK taxes and do not have complex tax issues in the UK, we do not generally have extensive interaction with HMRC. We are committed to a collaborative and constructive relationship with them and, when we do liaise with HMRC, it is on a transparent basis.

Other Information

This strategy applies to the UK branch offices of:

  • Occidental of Algeria LLC
  • 1PointFive International, LLC

This information above applies in relation to the UK tax affairs of each of the above-stated entities. Each entity regards the publication of the statements above as compliant with their duties under paragraph 22(2) or paragraph 19(2) as applicable, of Schedule 19 to the Finance Act 2016.

December 2023