Italy

197 Employees

THIRD-PARTY REVENUES

$1,347,557,176

RELATED-PARTY REVENUES

$244,212,881

TOTAL REVENUES

$1,591,770,057

PROFIT BEFORE TAX

$237,926,553

TAX PAID

$88,466,178

TAX ACCRUED

$67,702,674

TANGIBLE ASSETS

$1,800,530,497

STATED CAPITAL

$1,111,275,126

ACCUMULATED EARNINGS

$(1,601,170,757)

Main Business Activities

  • Upstream and Integrated Gas
  • Downstream
  • Trading and Supply
  • Other support activities

Shell has been present in Italy since 1912. In 2019, Shell’s upstream activities include interests in the Val d’Agri and Tempa Rossa oil fields located in Basilicata and exploration interests in two onshore areas: Po Valley (relinquished in 2020) and southern Apennines (suspended following a government ban on exploration). Shell’s downstream operations include the production and sale of lubricants and the sale of natural gas and electricity.

Country Financial Analysis

The statutory corporate income tax rate in Italy is 28%.

The tax paid exceeds the tax accrued as it includes a final tax payment in respect of 2018 and because the estimated advance payments for 2019 were higher than the accrued liability.

Our Payments to Governments Report for 2019 also shows that Shell paid around $75 million in .

Royalties
Royalties are generally payment 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 also Trademark royalties.
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