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Shell online reporting suite 2022

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Vietnam

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Employees

82

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Total tax contribution

$3,558,446

Taxes borne

$2,498,164

Taxes collected

$1,060,282

  • Third-party revenues

    $80,592,004

  • Related-party revenues

    $311,753

  • Total revenues

    $80,903,758

  • Profit before tax

    $13,038,201

  • Corporate income tax paid

    $2,254,767

  • Corporate income tax accrued

    $2,504,058

  • Stated capital

    $14,505,852

  • Accumulated earnings

    $36,760,370

  • Tangible assets

    $20,730,450

  • Other payments to governments

    –

Shell's footprint

Shell Vietnam Ltd was established in 1995 and has sales and marketing operations, and lubricants production activities. Shell in Vietnam also has a network of third parties that distribute its products.

Country financial analysis

The statutory corporate income tax rate in Vietnam is 20%. Corporate income tax is paid on a quarterly basis and reconciled during the finalisation of the financial year. The corporate income tax accrued figure of $2.5 million relates to provisional tax for 2022 payable in 2023. Corporate income tax paid comprises three instalments for 2022, and the fourth instalment and final payments for 2021.

Read more in Total tax contribution.

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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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Corporate income tax accrued
This is the amount of corporate income tax for 2022 recorded as current-year tax in Shell’s Consolidated Statement of Income. This also includes withholding tax accrued. It does not include prior-year adjustments, deferred tax or provisions for uncertain tax liabilities.
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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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