Revenue transparency and payments to governments
We support transparency in the flow of revenue from our oil and gas activities to governments. This helps citizens hold public authorities to account for the way they use funds received through taxes and other agreements
bp is a founding member of the Extractive Industries Transparency Initiative (EITI), which supports the disclosure of payments made to and received by governments in relation to oil, gas and mining.
Through EITI we work with governments, NGOs and international agencies to improve transparency. For example, in 2019 we enacted our global commitment through membership of the international board, including supporting decision making on the new global EITI standard, which represents a further evolution in transparency. The focus is on making disclosure and open data routine parts of government and corporate reporting, providing information to stakeholders that supports their widespread use in analysis and decision making. It now requires contract transparency for new contracts from 2021, plus new requirements on environmental reporting and gender. We disclose information on our payments to governments for our upstream activities on a country-by-country and project basis under national reporting regulations.
Our approach to tax
We comply with tax laws and have open and constructive relationships with tax authorities.
We participate in initiatives to simplify and improve tax regimes to encourage investment and economic growth. Our approach to tax aligns with our code of conduct, which sets out what is expected of everyone at bp.
This includes acting in a manner that is safe, ethical and consistent with applicable laws and regulations. We do not tolerate the facilitation of tax evasion by people who act for or on behalf of bp.
Read more about our approach to revenue transparency, including tax and payments to governments reports.
Taxes paid to governments
($ million)
