Profit before tax
Main business activities
Shell has been present in Macao since 1989. Shell earns its revenues through business it conducts through locally appointed agents and dealers which operate retail sites and distribute lubricants and fuel products. The Shell company in Macao does not have activities or own any assets in Hong Kong. Shell in Macao has a small office and relies on administrative support from affiliate companies.
Country financial analysis
The statutory corporate income tax rate in Macao is 12%. Profit is derived from downstream global marketing activities in Macao and tax on this is paid in Macao. Tax is paid in arrears. The tax paid in 2021 is on the taxable profits from previous years.
Tax accrued is the expected corporate income tax on profits arising in 2021 but is due and payable in 2022.