Profit before tax
Main Business Activities
- Trading and Supply
Shell has been present in Turkey since 1923. In 2006, Shell established Shell & Turcas Petrol A.S. (Shell interest 70%) with local distribution company Turcas to expand Shell’s branded retail network. Shell & Turcas Petrol A.S. has a wide network of over 1,000 retail sites and is active in lubricants, fleet solutions and commercial fuels. Shell also has a lubricants and grease production plant in Derince. Shell’s activities in Turkey also include chemicals, aviation, marine, gas and power. In 2011, Shell again started upstream activities in partnership with the national oil company Turkish Petroleum.
Country Financial Analysis
The statutory corporate income tax rate in Turkey is 22%.
In 2020, Shell Turkey recorded an overall loss across a number of entities because of the impact of the COVID-19 pandemic. In Turkey, losses are not offset against profits. In 2020, tax is paid on entities with profit in their local financial statements without relief for losses that arose in other entities.