Our operations generate revenue through taxes and royalties for governments around the world. These funds can help support a country’s economy and contribute to local development. We believe that greater transparency of such payments, and how they are used, is important for building trust between businesses such as ours and the communities we work alongside.
We work openly with governments on matters of taxes and royalties. We are a founder and board member of the Extractive Industries Transparency Initiative (EITI). This initiative requires both governments and companies to disclose revenues received from oil and mineral activities. In 2011, we continued to work with governments, industry peers and non-governmental organisations to implement the EITI in Cameroon, Gabon, Iraq, Kazakhstan, Nigeria and Norway.
In 2011, Shell paid globally $22.6 billion in corporate taxes, and $4.4 billion in royalties. We collected $88.1 billion in excise duties and sales taxes on our fuel and other products on behalf of governments.