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  • Third-party revenues


  • Related-party revenues


  • Total revenues


  • Profit before tax


  • Corporate income tax paid


  • Corporate income tax accrued


  • Stated capital


  • Accumulated earnings


  • Tangible assets


  • Other payments to governments


Shell's footprint

Shell has a 45% interest in an exploration licence in Namibia and is currently conducting exploration activities in its licence area with the objective of identifying commercial hydrocarbon resources.

Country financial analysis

The statutory corporate income tax rate in Namibia is 35%. The loss figure in the table reflects exploration costs, for which there is no immediate tax relief. Should the project start production, these costs can be deducted against profits for tax purposes in compliance with local legislation. Our Payments to Governments Report for 2022 shows that Shell paid around $108,363 in fees.

Read more in Payments to Governments Report(

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.
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Fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded from this report. Also excluded are payments made in return for services provided by a government.
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