diff --git a/compiler.go b/compiler.go
index 753053abaf..8cbbdbff43 100644
--- a/compiler.go
+++ b/compiler.go
@@ -156,15 +156,18 @@ func (c *Compiler) HandleDynamicVar(v ast.Var, dir string, e []string) (string,
 	if c.dynamicCache == nil {
 		c.dynamicCache = make(map[string]string, 30)
 	}
-	if result, ok := c.dynamicCache[*v.Sh]; ok {
-		return result, nil
-	}
 
 	// NOTE(@andreynering): If a var have a specific dir, use this instead
 	if v.Dir != "" {
 		dir = v.Dir
 	}
 
+	cacheKey := *v.Sh + "-" + dir
+
+	if result, ok := c.dynamicCache[cacheKey]; ok {
+		return result, nil
+	}
+
 	var stdout bytes.Buffer
 	opts := &execext.RunCommandOptions{
 		Command: *v.Sh,
@@ -182,7 +185,7 @@ func (c *Compiler) HandleDynamicVar(v ast.Var, dir string, e []string) (string,
 	result := strings.TrimSuffix(stdout.String(), "\r\n")
 	result = strings.TrimSuffix(result, "\n")
 
-	c.dynamicCache[*v.Sh] = result
+	c.dynamicCache[cacheKey] = result
 	c.Logger.VerboseErrf(logger.Magenta, "task: dynamic variable: %q result: %q\n", *v.Sh, result)
 
 	return result, nil
diff --git a/task_test.go b/task_test.go
index 0a2c982122..b0ae31c9a4 100644
--- a/task_test.go
+++ b/task_test.go
@@ -3274,6 +3274,25 @@ func TestReference(t *testing.T) {
 	}
 }
 
+func TestResolveShellVarsInSubdirs(t *testing.T) {
+	t.Parallel()
+
+	var buff bytes.Buffer
+	e := task.NewExecutor(
+		task.ExecutorWithDir("testdata/includes_shell_vars"),
+		task.ExecutorWithStdout(&buff),
+		task.ExecutorWithStderr(&buff),
+		task.ExecutorWithSilent(true),
+		task.ExecutorWithForce(true),
+	)
+	require.NoError(t, e.Setup())
+	require.NoError(t, e.Run(context.Background(), &task.Call{Task: "all"}))
+
+	output := buff.String()
+	require.Contains(t, output, `[s1:all] ./a`)
+	require.Contains(t, output, `[s2:all] ./b`)
+}
+
 func TestVarInheritance(t *testing.T) {
 	enableExperimentForTest(t, &experiments.EnvPrecedence, 1)
 	tests := []struct {
diff --git a/testdata/includes_shell_vars/Taskfile.yml b/testdata/includes_shell_vars/Taskfile.yml
new file mode 100644
index 0000000000..8882acb6b5
--- /dev/null
+++ b/testdata/includes_shell_vars/Taskfile.yml
@@ -0,0 +1,20 @@
+version: '3'
+
+run: when_changed
+silent: true
+output: prefixed
+
+includes:
+  s1:
+    taskfile: sub1
+    dir: sub1
+  s2:
+    taskfile: sub2
+    dir: sub2
+
+tasks:
+  all:
+    deps:
+      - s1:all
+      - s2:all
+
diff --git a/testdata/includes_shell_vars/sub1/Taskfile.yml b/testdata/includes_shell_vars/sub1/Taskfile.yml
new file mode 100644
index 0000000000..b7363fa400
--- /dev/null
+++ b/testdata/includes_shell_vars/sub1/Taskfile.yml
@@ -0,0 +1,10 @@
+version: '3'
+
+vars:
+  files:
+    sh: "find ."
+
+tasks:
+  all:
+    cmds:
+      - cmd: 'echo  "{{.files}}"'
diff --git a/testdata/includes_shell_vars/sub1/a b/testdata/includes_shell_vars/sub1/a
new file mode 100644
index 0000000000..43d5a8ed6e
--- /dev/null
+++ b/testdata/includes_shell_vars/sub1/a
@@ -0,0 +1 @@
+AAA
diff --git a/testdata/includes_shell_vars/sub2/Taskfile.yml b/testdata/includes_shell_vars/sub2/Taskfile.yml
new file mode 100644
index 0000000000..b7363fa400
--- /dev/null
+++ b/testdata/includes_shell_vars/sub2/Taskfile.yml
@@ -0,0 +1,10 @@
+version: '3'
+
+vars:
+  files:
+    sh: "find ."
+
+tasks:
+  all:
+    cmds:
+      - cmd: 'echo  "{{.files}}"'
diff --git a/testdata/includes_shell_vars/sub2/b b/testdata/includes_shell_vars/sub2/b
new file mode 100644
index 0000000000..ba629238ca
--- /dev/null
+++ b/testdata/includes_shell_vars/sub2/b
@@ -0,0 +1 @@
+BBB