Message from the Chief Financial Officer
Shell’s approach to taxes
Special topics
Our tax data
Brunei
6 Employees
THIRD-PARTY REVENUES
$123,411,309
RELATED-PARTY REVENUES
$3,906,726
TOTAL REVENUES
$127,318,036
PROFIT BEFORE TAX
$(49,988,492)
TAX PAID
$118,637
TAX ACCRUED
$36,092,804
TANGIBLE ASSETS
$154,472,786
STATED CAPITAL
$328,758,926
ACCUMULATED EARNINGS
$19,396,650
Main Business Activities
- Upstream
Shell has been present in Brunei for more than 90 years and our activities are mainly carried out by non-Shell-operated joint ventures. The figures above are for Shell’s wholly-owned entities in Brunei that are active in exploration and production.
Country Financial Analysis
The statutory petroleum income tax rate in Brunei is 55%.
In 2019, there was an accounting loss before tax as a result of asset write-offs. Tax was accrued and paid as these write-offs are not tax deductible.
Our Payments to Governments Report for 2019 also shows that Shell paid $727,717 in fees.
