PROFIT BEFORE TAX
Main Business Activities
Shell has been present in Albania since 2012 and has been exploring for oil and gas there through an Albanian branch of a Dutch company, Shell Upstream Albania B.V.
In 2019, a new branch of a Dutch company, Shell Albania Block 4 B.V., was set up to manage a new production-sharing contract.
Country Financial Analysis
The corporate income tax rate for the exploration and production of hydrocarbons in Albania is 50% and is determined by the production-sharing contract with the Albanian Government.
The loss before tax arose as a result of exploration costs. As the fields have not been developed or started production there are no profits to tax.