Philippines

Employees

4,927

Total tax contribution

$1,293,372,538

Taxes borne

$103,434,551

Taxes collected

$1,189,937,986

• Third-party revenues

  $4,276,220,170

• Related-party revenues

  $305,625,647

• Total revenues

  $4,581,845,817

• Profit before tax

  $418,241,581

• Corporate income tax paid

  $98,679,882

• Corporate income tax accrued

  $71,929,863

• Stated capital

  $477,181,202

• Accumulated earnings

  $(236,377,558)

• Tangible assets

  $1,185,139,062

• Other payments to governments

  $461,162,693

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.