Payments overview
Key figures in 2020
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Total revenue and other income
$183.2 billion
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Total expenditure
$210.2 billion
-
(Loss)/income before taxation
$(27.0) billion
-
Corporate income tax paid [A]
$3.4 billion
-
Taxation (credit)/charge
$(5.4) billion
-
Effective tax rate
20.1%
OECD average corporate income tax rate 23.1%
Overview of tax and other payments to governments
$ billion
Dividend
After payment of costs and taxes, a company may choose to make a dividend payment to its shareholders as a return on their investment in the company. After payments of dividends, any remaining surplus is termed ‘retained earnings’ and is available for reinvestment into the business.
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Withholding taxes
A withholding tax is an income tax to be paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. Withholding taxes usually apply to royalties, interest or dividends.
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