Turkey

Employees

631

Total tax contribution

$2,981,068,114

Taxes borne

$62,576,408

Taxes collected

$2,918,491,706

• Third-party revenues

  $8,545,009,413

• Related-party revenues

  $890,482,788

• Total revenues

  $9,435,492,201

• Profit before tax

  $198,671,101

• Corporate income tax paid

  $59,170,770

• Corporate income tax accrued

  $43,603,854

• Stated capital

  $179,019,470

• Accumulated earnings

  $340,162,577

• Tangible assets

  $910,522,635

• Other payments to governments

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Shell's footprint

Shell has been present in Turkey since 1923. In 2006, Shell established Shell & Turcas Petrol A.S. (Shell interest 70%), which has a network of more than 1,000 retail sites and is active in lubricants, fleet solutions and commercial fuels. Shell also has a lubricants and grease production plant in Derince. Shell's other activities in Turkey include chemicals, aviation, marine, gas and power. In 2011, Shell started upstream activities in partnership with the national oil company, Turkish Petroleum.

Country financial analysis

The statutory corporate income tax rate in Turkey is 23%. In 2022, Shell in Turkey recorded a profit before tax of around $199 million and paid around $59 million in corporate income tax. While some entities reported losses, these are not offset against overall profits. Tax is paid on entities showing a profit in their local financial statements, which in 2022 included entities active in mobility, trading and supply, lubricants and chemicals. In 2022, Turkey had a very high average inflation rate of around 70%. As a result, Shell applied the IAS 29 standard for financial reporting in hyperinflationary economies, which impacted some of the financial numbers in the table. The value in US dollars of goods we held in inventories also increased, which led to a rise in revenues and profit before tax.