Profit before tax
Main business activities
Shell has been present in South Africa since 1902. Shell has a wide network of retail sites and is active in commercial fuels, lubricants, aviation fuels, marine and upstream exploration. Shell also jointly owns the Shell & BP South African Petroleum Refineries (Pty) Limited refinery in Durban (Shell interest 50%). The refinery manufactures a variety of petroleum products including gasoline, diesel, paraffin, aviation fuel, liquid petroleum gas, base oil, solvents and marine fuel oil.
Country financial analysis
The statutory corporate income tax rate in South Africa is 28%.
In South Africa, corporate income taxes are paid in advance, based on estimated taxable income. The tax credit is mainly due to a disputed prior-year overpayment, which has since been refunded to Shell in 2022. Shell recorded profit before tax in 2021 as a result of increased economic activity following the lifting of COVID-19 restrictions and higher commodity prices.