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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 present in the Philippines for more than 100 years. Shell has a 55% interest in Pilipinas Shell Petroleum Corporation (PSPC), which changed its name to Shell Pilipinas Corporation (SPC) in March 2023. PSPC/SPC imports and markets petrol, commercial fuels and other petroleum products, and is listed on the Philippine Stock Exchange. The company has three import facilities and more than 1,100 retail sites. In 2022, Shell completed the sale of its 45% interest in the Malampaya gas project. Shell has a Business Operations Centre in the Philippines which provides support services to other Shell companies. Shell Energy Philippines supplies and trades power and electricity.

Country financial analysis

The statutory corporate income tax rate in the Philippines is 25%. Total corporate income tax paid and accrued increased in 2022 compared with 2021, mainly because of higher net income from fuel sales and non-fuel retail. The increase in tangible assets is due to additional mobility sites built during the year, upgrades to existing mobility sites and enhancement of the supply chain network. Our Payments to Governments Report for 2022 shows that Shell paid around $461.1 million in production entitlements.

Read more in Total tax contribution and 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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Corporate income tax paid
This comprises corporate income tax paid in 2022, as recorded in Shell's Consolidated Statement of Cash Flows, and includes accrued withholding taxes on dividend, interest and royalty payments to Shell entities. In some cases, this may include payments made in relation to previous years or future years as tax payments are often made in arrears or in advance. It does not include withholding taxes collected by Shell on dividends paid to shareholders. Nor does it include corporate income tax paid by non-consolidated joint ventures and associates.
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Tangible assets
The data reported in line with CbCR comprise property, plant and equipment and inventories as at the closing balance sheet date on December 31, 2022.
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