Italy
262 Employees
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Third-party revenues
$1,691,216,872
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Related-party revenues
$737,313,468
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Total revenues
$2,428,530,341
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Profit before tax
$30,257,209
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Tax paid
$826,987
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Tax accrued
$21,040,918
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Tangible assets
$1,327,106,289
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Stated capital
$1,165,200,326
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Accumulated earnings
$(1,764,114,230)
Main business activities
- Upstream
- Integrated Gas
- Downstream
- Trading and Supply
- Other support activities
Shell’s footprint
Shell has been present in Italy since 1912. In 2021, Shell’s upstream activities include interests in the Val d’Agri and Tempa Rossa oil fields located in Basilicata. Shell’s downstream operations include the production and sale of lubricants and the sale of natural gas and electricity.
Country financial analysis
The statutory corporate income tax rate in Italy is 28%. Profit before tax was hit by impairments which are non-deductible for local tax purposes. Most of the tax on 2021 profits was paid in 2022. Arrears due to be paid in 2021 – calculated on previous year’s tax charge – were limited as a result of the loss made by Shell in 2020. Our Payments to Governments Report for 2021 shows that Shell paid around $55.8 million in royalties and fees.
