PROFIT BEFORE TAX
Main Business Activities
- Trading and Supply
Shell has been present in Pakistan since 1947.
In 2018, Shell Petroleum Company Ltd., a UK-registered company, sold 28.57% of its interest in Pakistan Refinery Ltd., retaining a 3.57% holding. This remaining 3.57% holding was disposed of during 2019. Shell Petroleum Company Ltd. also has a 76.11% interest in Shell Pakistan Ltd. Shell Pakistan Ltd. has a wide retail network and sells petroleum products and compressed natural gas. It also blends and markets various kinds of lubricating oils.
Country Financial Analysis
The statutory corporate income tax rate in Pakistan is 29%.
The oil industry felt the impact of some of the continued macro-economic challenges being faced by the country, primarily owing to the unprecedented devaluation of the rupee against the US dollar. Profits have reduced as a result of the declining fuels market and volatility in international oil prices. Tax paid in 2019 is the payment of a minimum level of tax due under local law.