BP’s Global Tax Bill Fell by 45% to $5.1 Billion Last Year

BP paid $5.1 billion in taxes globally in 2020, down from $9.2 billion a year earlier, the company said in its 2020 tax report.

• The figure includes corporate taxes on profits, as well as other direct and indirect taxes levied on its activities, BP said
  • Bulk of taxes paid were $2.4 billion corporate tax, followed by $1.6 billion in production taxes
• BP’s tax contributions, which includes taxes it pays and collects on its global operations, fell to $34.8 billion from $42.9 billion in 2019
• Headcount in 2020 fell to 63,600 employees worldwide, from 70,100 in 2019
  • NOTE: BP embarked ...