Profit before tax
Main Business Activities
- New Energies [A]
- Upstream and Integrated Gas
- Trading and Supply
- Other support activities
Shell has been present in the Netherlands for more than 100 years. Shell’s global headquarters are in The Hague. Our activities include retail sites, fast-charging sites for electric vehicles, a chemical complex, a technology centre and a refinery. Shell is also involved in the development of solar parks, wind farms and geothermal heat.
Shell has a 50% interest in Nederlandse Aardolie Maatschappij B.V. (NAM), which produces oil and gas. In the table above, the Shell share of NAM is included in profit before tax and accumulated earnings.
Shell’s global Integrated Gas and Renewables and Energy Solutions, Upstream and Projects & Technology businesses are all based in the Netherlands. Many support services are also performed at Shell’s headquarters, including trading, holding and treasury activities.
[A] New Energies was rebranded to Renewables and Energy Solutions in 2021.
Country Financial Analysis
The statutory corporate income tax rate in the Netherlands is 25%.
In 2020, Shell reported a loss before tax in the Netherlands of $3.4 billion. The loss before tax figure in the table above of $2.2 billion includes (for country-by-country reporting purposes) the share of profit or loss from certain joint ventures and associates held by Shell. Losses for the year reflect the COVID-19 pandemic, related economic impacts, and include related impairment charges.
The tax paid of $107 million and the tax accrued of around $70 million relate mainly to foreign withholding taxes. These are taxes incurred on dividends, interest and service fees received by Shell companies in the Netherlands. These taxes are mainly paid to foreign governments. Shell paid $30 million in corporate income taxes and royalties in the Netherlands, $16 million of which was paid through our 50% participation in NAM.