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Shell online reporting suite 2022

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Puerto Rico

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Employees

0

  • Third-party revenues

    $0

  • Related-party revenues

    $142,890

  • Total revenues

    $142,890

  • Profit before tax

    $(340,606)

  • Corporate income tax paid

    $0

  • Corporate income tax accrued

    $500

  • Stated capital

    $32,605,000

  • Accumulated earnings

    $(28,517,006)

  • Tangible assets

    $0

  • Other payments to governments

    –

Shell's footprint

Station Managers of Puerto Rico, Inc. (SMPR), wholly owned by The Shell Company (Puerto Rico) Limited, was sold to Shell Petroleum Company Limited in 2006. SMPR has no active operations but maintains a small reserve for potential residual financial obligations.

Country financial analysis

The statutory corporate income tax rate in Puerto Rico is 37.5%. SMPR reported a small amount of revenue from interest earned in 2022. However, a loss before tax arose as a result of ongoing administrative and service costs, and no corporate income tax was paid.

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Total tax contribution

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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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Revenues
Revenues are disclosed as a split between those from related parties and those from third parties. For CbCR, third parties would include non-consolidated joint ventures and associates for the purposes of our Annual Report and Accounts 2022. Third-party revenues include sales of products, interest income, dividend income and other income. Related-party revenues include transactions between consolidated Group entities. For example, related-party revenues arise if our Trading organisation buys oil or gas from our Upstream organisation and sells it to our Downstream organisation. Within one country or location, many of these related-party transactions may occur, as Shell entities buy and sell goods, or provide and receive services, to or from each other. Shell includes all these transactions in its aggregated CbCR data. For example, feedstock could be sold to a refinery, refined and then processed further in a chemical plant before being traded by Shell. This can occur within one country or location. In this case, each of these sales between different entities would be counted as related-party revenues. These can represent large amounts.
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