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Shell online reporting suite 2022

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United Arab Emirates

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Employees

341

  • Third-party revenues

    $17,771,784,227

  • Related-party revenues

    $26,951,016,554

  • Total revenues

    $44,722,800,781

  • Profit before tax

    $3,478,368,805

  • Corporate income tax paid

    $266,393,062

  • Corporate income tax accrued

    $394,316,829

  • Stated capital

    $0

  • Accumulated earnings

    $3,700,221,039

  • Tangible assets

    $1,956,891,969

  • Other payments to governments

    –

Shell's footprint

Shell has been active in the UAE since 1939. Shell businesses were originally set up as branches of foreign entities. Upstream is represented by Shell Abu Dhabi B.V., which holds an interest in a non-operated venture whose revenues are taxed on the basis of a concession agreement with the UAE government. Trading is represented by Shell International Trading Middle East Limited FZE (SITME FZE), which was re-domiciled from Bermuda to the UAE in mid-2022 and is now a UAE tax resident registered in Jebel Ali Free Zone. In 2009, SITME FZE commenced liquefied natural gas (LNG) trading activities which expanded further following the acquisition of Repsol's LNG business in 2014. All other Shell business is represented by Shell Markets (Middle East) Limited (SMME). SMME is a regional hub for Shell and provides specialised services to Shell entities in the Middle East. It sells, markets and distributes aviation and marine fuels, as well as lubricants, chemicals and related products.

Country financial analysis

The UAE taxes revenues from certain activities, including those from petroleum operations, which are subject to corporate income tax at 55%. Additional taxes, such as royalties or gas tax, may also be due in respect of petroleum operations and are based on individual agreements with the government. The corporate income tax paid by Shell in the UAE mainly relates to upstream activities. In 2022, most of the revenues in the UAE arose from downstream and trading activities that are not subject to corporate income tax.

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Total tax contribution

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Branch
A branch is an office or business presence in a location other than where the corporate entity is established.
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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 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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Royalties
Royalties are generally payments due for the use of an asset. Mineral royalties are payments to governments or other owners for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken. See Trademark royalties.
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