South Africa

Employees

538

Total tax contribution

$1,906,943,413

Taxes borne

$21,574,153

Taxes collected

$1,885,369,260

• Third-party revenues

  $5,327,581,487

• Related-party revenues

  $270,266,571

• Total revenues

  $5,597,848,058

• Profit before tax

  $(74,326,678)

• Corporate income tax paid

  $20,017,839

• Corporate income tax accrued

  $1,220,845

• Stated capital

  $167,529,132

• Accumulated earnings

  $517,384,692

• Tangible assets

  $1,258,683,215

• Other payments to governments

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Shell's footprint

Shell has been present in South Africa since 1902. Shell Downstream South Africa (Pty) Ltd (SDSA) supplies petroleum products to a wide network of retail mobility sites and to customers in commercial fuels, lubricants, aviation fuels and marine fuels. SDSA jointly owns the Shell & BP South African Petroleum Refineries (Pty) Limited refinery, which is currently non-operational following extensive flood damage in April 2022. As a result, SDSA is importing most of its petroleum products while the refinery is non-operational. Shell in South Africa also has investments in upstream ventures, which are still in the pre-exploration phase.

Country financial analysis

The statutory corporate income tax rate in South Africa is 28%. Shell in South Africa reported a loss in 2022, largely as a result of high commodity prices, the impact on income from the damaged refinery and a challenging local operating environment of low economic growth, currency volatility and higher import costs of finished products. Because corporate income taxes are paid in advance, based on estimated taxable income for the reporting year, SDSA is expecting a refund of the tax paid for 2022 at the end of 2023. This is because of a material difference between the estimated and actual taxable income for 2022 due to the impact on profit from the damaged refinery.