London, 19 March 2024, (Oilandgaspress): – Shell published its 2023 Payments to Governments Report, in accordance with the UK’s The Reports on Payments to Governments Regulations 2014 (amended December 2015). In line with the Regulations, this report only covers extractive activities and payments equal to or above the £86,000 or equivalent materiality threshold, resulting in payments made to governments in 26 countries being included.
Our operations generate revenue through taxes and royalties for governments around the world. These taxes and royalties are often used by governments to fund essential public services like education, transport and healthcare.
Since 2016 Shell has made mandatory disclosures under the UK’s Reports on Payments to Governments Regulations 2014 (amended December 2015). We have published the revenues that our operations generate through taxes and royalties on a voluntary basis since 2012. We believe that being open about our tax payments helps people to understand how much we pay and why.
In 2023, Shell paid $67 billion to governments. We paid $14 billion in corporate income taxes and $6 billion in government royalties, and collected $47 billion in excise duties, sales taxes and similar levies on our fuel and other products on behalf of governments.
The 2023 Payments to Governments Report (PDF)
details payments in 26 countries where Shell has Upstream operations, including the basis of reporting and a breakdown by country. The report is prepared in accordance with the UK’s Reports on Payments to Governments Regulations 2014 (amended December 2015). This is the ninth report issued by Shell under such regulations.
Information Source: Read full article
Energy Monitors | Electric Power | Natural Gas | Oil | Climate | Renewable | Wind | Transition | LPG | Solar | Electric | Biomass | Sustainability | Oil Price |
