PROFIT BEFORE TAX
Main Business Activities
- Trading and Supply
Shell has had a presence in the Bahamas since 2002, following the acquisition of Enterprise Oil. The entity Shell acquired, formerly called Shell E&P Ireland Offshore Inc., held upstream investments that have since been divested. In 2019, Shell E&P Ireland Offshore Inc. was renamed Shell Bahamas Power Company Inc. (SBPC). SBPC is the designated company for the implementation of the proposed liquified natural gas (LNG) regasification and power plants project with a third party, Bahamas Power and Light Company Limited.
Since 2018, Shell in the Bahamas has included Shell Western Supply and Trading Ltd., a crude oil trading business serving West African and Latin American markets.
Country Financial Analysis
The Bahamas does not impose corporate income tax on International Business Companies (IBC) operating in the country and so Shell Western Supply and Trading Ltd. pays no tax. While IBC companies are not subject to direct taxes, they are subject to indirect taxes and fees. The profits reported by Shell Western Supply and Trading Ltd. reflect the business activities there.