Skip to main content
Shell

Shell online reporting suite 2021

Tools

Go to Shell Global Reporting hub

Venezuela

9 Employees

  • Third-party revenues

    $28,479

  • Related-party revenues

    $833,577

  • Total revenues

    $862,056

  • Profit before tax

    $(11,541,355)

  • Tax paid

    $1,651,509

  • Tax accrued

    $1,593,013

  • Tangible assets

    $534,426

  • Stated capital

    $823,525,356

  • Accumulated earnings

    $(914,951,445)

Main business activities

  • Integrated Gas
  • Support activities

Shell’s footprint

Shell has been present in Venezuela for 109 years. In 2018, Shell divested its interest in the Petroregional del Lago non-operated venture and in 2019 sold its lubricants business. Shell has paused its business activities in Venezuela because of the strengthening of sanctions in 2019 and 2020.

Country financial analysis

The statutory corporate income tax rate on our activities in Venezuela is between 15% and 34%. Tax paid in 2021 relates to withholding taxes on support services.

Corporate income tax
This is a direct tax imposed on companies’ profits. It is sometimes levied at a national level but can also be levied on a state or local basis.
View complete glossary
Withholding taxes
A withholding tax is an income tax to be paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. Withholding taxes usually apply to royalties, interest or dividends.
View complete glossary

You might also be interested in

On the picture are people in a business meeting. (photo)

Our approach to tax

More in this report

More on Shell websites