We’re committed to:
Our purpose and our code of conduct inform the responsible approach we take to managing our taxes.
bp's total tax contribution for 2024 was $45.8 billion (2023 $46.2 billion). This comprises the taxes we paid and collected on our global operations.
$45.8bn
(2023: $46.2 billion)
Our total tax contributions around the world
Transparent reporting about our tax payments and practices can enable more meaningful engagement with our stakeholders around bp’s role in the transition.
The B Team has set out seven principles that offer a clear framework for responsible tax practice. We have adopted them all.
We provide examples of how we embed responsible tax principles in our Tax Report 2024 but for more detailed information, please refer to our Responsible Tax Principles.
Tax is a core part of corporate responsibility andgovernance, and our tax matters are overseen byour board of directors.
We comply with the tax legislation of the countries in which we operate and pay the right amount of tax at the right time, in the countries where we create value.
We will only use business structures that are driven by commercial considerations, are aligned with business activity and which have genuine substance. We do not seek abusive tax results.
We seek, wherever possible, to develop co-operative relationships with tax authorities, based on mutual respect, transparency and trust.
Where we claim tax incentives offered by government authorities, we seek to ensure that they are transparent and consistent with statutory or regulatory frameworks.
We engage constructively in national and international dialogue with governments, business groups and civil society to support the development of effective tax systems, legislation and administration.
We provide regular information to our stakeholders, including investors, policy makers, employees, civil society and the general public, about our approach to tax and taxes paid.
We publish data from our OECD country by country report, which is focused on corporate taxes and contains financial data for all countries where we have a taxable presence, including our corporate income tax payments.
Although we are not formally required to publish this report, we believe it can help improve our stakeholders understanding of our activities, deepen their trust in our approach to tax and make useful information more easily accessible.