PROFIT BEFORE TAX
Main Business Activities
- New Energies
Shell has been active in Brazil since 1913 and has a mix of upstream, downstream and New Energies activities. The acquisition of BG Group in 2016 made Shell the largest international investor in Brazil´s conventional deep-water oil fields.
In Downstream, we have a lubricants business and a 50% stake in Raízen, which manufactures sugar cane ethanol and supplies and distributes fuels. Raízen is one of the world’s largest producers of sugar cane ethanol, producing more than 2 billion litres of ethanol per year.
Country Financial Analysis
The statutory corporate income tax rate in Brazil is 34%.
Shell Brazil reported a 2019 loss before tax and no corporate income tax was due. The tax paid and tax accrued numbers are related to withholding tax. In addition to the above taxes paid, our joint venture Raízen also had a corporate income tax charge of $100 million.