Bulgaria
Employees
61
Total tax contribution
$179,652,755
Taxes borne
$570,839
Taxes collected
$179,081,916
-
Third-party revenues
$309,876,253
-
Related-party revenues
$5,025,080
-
Total revenues
$314,901,334
-
Profit before tax
$2,445,522
-
Corporate income tax paid
$331,831
-
Corporate income tax accrued
$258,218
-
Stated capital
$42,469,336
-
Accumulated earnings
$(6,056,343)
-
Tangible assets
$92,228,773
-
Other payments to governments
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Shell's footprint
Shell has been present in Bulgaria since 1991 and is mostly active in the downstream sector with a network of 101 retail sites across the country. In 2016, Shell International Exploration and Development Italia S.p.A., which has a Bulgarian branch, signed a five-year licence agreement with the Ministry of Energy to explore for oil and natural gas in the Bulgarian continental shelf of the Black Sea. As the results from drilling were not satisfactory, Shell did not extend the licence in 2021 and deregistered its Bulgarian exploration business entity in 2022. Up to December 2021, Shell had invested almost $74 million in oil and gas exploration in Bulgaria.
Country financial analysis
Bulgaria's statutory corporate income tax rate is 10%. The upstream business reported a loss as a result of exploration costs. However, tax was paid on the profitable downstream activities.
Read more in Total tax contribution.
