Shell companies paid over $10B in corporate income tax
BAKU, Azerbaijan, Dec.17
By Leman Zeynalova – Trend:
Royal Dutch Shell companies paid over $10 billion in corporate income tax in 2018, reads the company’s Tax Contribution Report.
“In 2018, Shell companies paid $10.1 billion in corporate income tax and $5.8 billion in royalties around the world. On behalf of governments, we also collected some $48.2 billion in excise duties, sales taxes and similar levies on our fuel and other products,” Trend reports citing Shell.
The Tax Contribution Report provides information about the corporate income tax Shell paid in countries and locations in which we have a taxable presence across all our businesses.
Shell’s overall effective tax rate was 32.9 percent in 2018.
“Transparency is important for Shell - showing who we are and what we do is one of the best ways we can demonstrate the many contributions we make to society,” said Jessica Uhl, Shell Chief Financial Officer.
“Shell is committed to tax compliance. We seek to comply with the applicable tax laws in all the countries and locations where we have a taxable presence. In 2018, we endorsed a set of responsible tax principles developed by the B Team, a not-for-profit organization whose mission is to help companies establish responsible business practices.”
The Tax Contribution Report is part of Shell’s commitment to these principles and includes country-by-country report data.
Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.
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