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Total tax contribution


Taxes borne


Taxes collected


  • 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 been active in Brazil since 1913 and has upstream, downstream and renewables activities. The acquisition of BG Group in 2016 made Shell the largest international investor in Brazil's conventional deep-water oil fields. In our Downstream business, we have a 44% stake in Raízen, which produces sugar-cane ethanol and supplies and distributes fuels. Raízen is one of the world's largest biofuel producers, producing around 3 billion litres per year. In 2022, Shell completed the sale of its Lubricants business to Raízen.

Country financial analysis

The statutory corporate income tax rate in Brazil is 34%. In 2022, Shell paid $553 million in corporate income tax and received a tax refund of $75 million related to corporate income tax overpayments made in previous years. The increase in revenues, and consequently in profit, in 2022 is mainly the result of the higher oil price. In 2022, Shell made use of a tax incentive in Brazil that allows companies to support culture and sport with up to 1% of their tax due. As a result, Shell directed $15 million of its tax due to support the initiative. Our Payments to Governments Report for 2022 shows that Shell paid around $3.9 billion in production entitlements, royalties, bonuses and fees.

Read more in Total tax contribution and in Payments to Governments Report(

Payments for bonuses usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced or production has reached a milestone.
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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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Royalties are generally payments due for the use of an asset. Mineral royalties are payments to governments or other owners for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken. See Trademark royalties.
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