Profit before tax
Main Business Activities
- Holding investments
Shell has holding companies in the Cayman Islands.
Shell inherited BG Exploration and Production India Limited (BGEPIL) when it acquired BG Group in 2016. BGEPIL is incorporated in the Cayman Islands and has a branch in India. Income earned by BGEPIL is subject to tax in India. BGEPIL’s exploration and production activities in India ended in December 2019 and it is now carrying out decommissioning activities.
Shell Bolivia Corporation is incorporated in the Cayman Islands and was also inherited from BG Group. It has investments in Bolivia that are subject to tax there.
As part of a 2020 acquisition from Kosmos Energy, Shell acquired Portfolio Holdings and its three subsidiaries owning interests in offshore blocks in São Tomé and Príncipe, Namibia and Suriname. These four Cayman Islands entities are in the process of being liquidated or restructured.
Country Financial Analysis
The Cayman Islands does not apply a corporate income tax system.
The profit stated in the table above refers to interest income, which is not taxed in the Cayman Islands.