China
Employees
1,928
Total tax contribution
$732,519,778
Taxes borne
$98,213,188
Taxes collected
$634,306,589
-
Third-party revenues
$3,166,027,719
-
Related-party revenues
$1,653,748,265
-
Total revenues
$4,819,775,984
-
Profit before tax
$277,044,456
-
Corporate income tax paid
$53,390,569
-
Corporate income tax accrued
$46,710,658
-
Stated capital
$1,429,217,667
-
Accumulated earnings
$1,415,476,277
-
Tangible assets
$3,015,444,518
-
Other payments to governments
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Shell's footprint
Shell has been present in China for more than 100 years and is active in Integrated Gas, Downstream and Projects & Technology. Downstream businesses in China, in particular retail, are highly regulated. In recent years, the market has opened up as part of China's open door policy and our Downstream business has experienced strong growth.
Country financial analysis
The statutory corporate income tax rate in China is 25%. Our corporate income tax paid in 2022 was mainly in relation to income from our growing Downstream businesses. The accumulated earnings represent retained profits of Downstream businesses, mainly lubricants and retail. The figures in the table reflect 24 companies, some of which are profit-making and some of which have recorded losses. The decrease in profit, compared with 2021, is due to poor margins and higher costs for the Downstream businesses. The corporate income tax paid figure is based on those companies that made a profit.
Read more in Total tax contribution.
