Singapore
3,617 Employees
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Third-party revenues
$38,135,992,987
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Related-party revenues
$46,546,223,669
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Total revenues
$84,682,216,656
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Profit before tax
$937,089,191
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Tax paid
$30,962,038
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Tax accrued
$20,505,871
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Tangible assets
$10,139,101,251
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Stated capital
$11,363,033,039
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Accumulated earnings
$1,344,125,806
Main business activities
- Downstream
- Manufacturing
- Trading and Supply
- Support activities
Shell’s footprint
Shell has been present in Singapore since 1891. Shell’s activities include refining and manufacturing of petroleum and petrochemical products, lubricants and greases. Shell in Singapore also undertakes trading and supply of a range of energy products. Shell operates a network of retail sites in Singapore, including charging for electric vehicles; owns and operates ships, tankers and cargo carriers; and acts as an LNG marketing and trading business. There are also treasury operations, pension fund management and pension trustee services for Shell in Asia-Pacific.
Country financial analysis
The statutory corporate income tax rate in Singapore is 17%. Shell in Singapore generates significant revenue but also incurs substantial operational costs. In 2021, profit continued to fall due to changes in market dynamics. Shell’s manufacturing and chemical businesses in Singapore continued to make capital investments. Singapore allows current-year capital allowances on such investments and losses to be offset against the taxable profits of most entities. Tax accrued in one year is typically paid in the following year.
Singapore has granted some Shell companies tax incentives based on our contribution to the local economy, including local employment, local business expenditure and strategic partnerships with local industry participants.
