Profit before tax
Main Business Activities
Shell has been present in Uruguay since the acquisition of BG Group in 2016. BG (Uruguay) S.A. (BGU), a wholly owned Shell subsidiary, provides technical services and advice to Gasoducto Cruz del Sur S.A. under the concession agreement for the construction and operation of a pipeline between Punta Lara (Argentina) and Montevideo (Uruguay). In 2017, BGU agreed to relinquish three offshore exploration blocks to the Uruguayan government.
Country Financial Analysis
The statutory corporate income tax rate in Uruguay is 25%.
In 2020, BGU carried forward a 2019 loss to offset 2020 profits. The offset resulted in no tax being due in 2020. However, Uruguayan law levies a minimum amount of corporate income tax which BGU paid.