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North Sea Neighbors on Opposite Ends of Shell’s Tax Bill

North Sea Neighbors on Opposite Ends of Shell’s Tax Bill

By Laura Hurst: 17 November 2020, 11:21 GMT: Updated on 17 November 2020, 13:14 GMT

  • Energy giant gets money back from Britain for a second year
  • Norway, however, taps company for more than $1 billion

Royal Dutch Shell Plc pumps thousands of barrels of oil and gas from the North Sea every day. In Norway the energy major paid over a billion dollars in tax last year, but on the U.K. side, it got more than a hundred million dollars back.

The discrepancy reflects contrasting government policies and spending by the oil and gas giant. In Norway, Shell had an effective tax rate of 78%. In Britain, it paid no corporation tax because of losses tied to investments in new North Sea fields. It also earned rebates from dismantling old platforms in the region. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell reveals latest year without paying UK corporation tax

Shell reveals latest year without paying UK corporation tax

Royal Dutch Shell paid no corporation tax in the UK last year even as it paid out billions of dollars in other jurisdictions.

The Anglo-Dutch oil major paid a total of $7.8bn in corporate income tax and $5.9bn in royalties last year on pre-tax profits of $25.5bn, according to an annual report published on Tuesday.

But the UK — along with France, South Africa and Indonesia — returned money to the company.

Shell received $116m from the UK government, following a similar return to the company in 2018, which it attributed to tax losses linked to investments in new North Sea fields and rebates tied to the decommissioning of ageing oil platforms. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell wins Sijthoff prize for reporting in a disaster year for the oil sector

English translation of an article published by the Dutch equivalent of the Financial Times, the FD. 

Shell wins Sijthoff prize for reporting in a disaster year in the oil sector

“This is remarkable, now that the oil and gas company is under social pressure, such as because of tax morality with regard to remittances in the Netherlands…”

Cor de Horde and Pim Kakebeeke: October 29, 2020

Shell receives the FD Henri Sijthoff prize from Sijthoff jury member Roderick Munsters (right) during an online meeting Photo: Sander van Nieuwenhuys read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Remainers proved wrong as Shell boss hints at switching HQ from Netherlands to London

Remainers proved wrong as Shell boss hints at switching HQ from Netherlands to London

OIL giant Royal Dutch Shell could relocate its headquarters from the Netherlands to the UK in a post-Brexit boost for the country.

By JOE BARNES, BRUSSELS CORRESPONDENT   Ben van Beurden, Shell’s chief executive, hinted the company is seeking to simplify its complex capital structures. The potential move would be considered a significant victory for Britain in the months after quitting the European Union. Just last month Unilever, the Anglo-Dutch consumer goods group, revealed it would merge its British and Dutch holding companies into one based in London.

Asked whether Shell could replicate Unilever, Mr van Beurden told Dutch newspaper Het Financieele Dagblad: “One always needs to keep thinking.

“Nothing is permanent and, of course, we take the investment climate into account.

“But moving your HQ is not a trivial measure, one should not be too easy about that.”

The oil giant is one of the largest listed companies in the UK, with a market capitalisation of £100 billion and more than 80,000 employees around the world. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell Leaving would be an ‘eternal’ sin, but no disaster

English translation of an article published today by the FD

Commentator: Shell leaving would be an ‘eternal’ sin, but no disaster

Shell is considering moving its headquarters from The Hague to London. It should come as no surprise. The fact that it is seriously considering this step was already written in the stars when the promised abolition of dividend tax would not go ahead.

The energy giant is a British company, but has its headquarters in The Hague. This construction was chosen on the assumption that the dividend tax would be abolished. When that fell through after public pressure, Shell had to look for other constructions to solve the perceived complexity of the dual structure. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell is considering moving its head office

English translation of an article published 4 July 220 by the FD: Bert van Dijk

Shell is considering moving its head office

It is uncertain whether Shell wants to keep its headquarters in the Netherlands, now that a controversial plan by the cabinet to abolish dividend tax has been definitively off the table. That says Shell CEO Ben van Beurden in an interview with the FD.

The energy giant is a British company, but has its headquarters in The Hague. Shell chose this construction on the assumption that dividend tax would be abolished, says Van Beurden. In October 2018, the government withdrew this intention after public pressure. As a result, Shell looks at its current British-Dutch structure with different eyes, according to the CEO. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell CEO does not rule out moving headquarters to Britain

Saturday, July 04, 2020 5:05 a.m. EDT by 

AMSTERDAM (Reuters) – Royal Dutch Shell is not ruling out moving its headquarters from the Netherlands to Britain, the oil company’s chief executive Ben van Beurden said in a Dutch newspaper interview published on Saturday.

Anglo-Dutch consumer products giant Unilever said last month it plans to ditch its dual Anglo-Dutch legal structure and create a single entity in Britain.

Van Beurden did not explicitly say Shell wants to move its headquarters, het Financieele Dagblad said.

“You always need to keep thinking,” Shell’s Van Beurden told the newspaper. “Nothing is permanent and of course we will look at the business climate. But moving your headquarters is not a trivial measure. You cannot think too lightly about that.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

EnergyVoice.com: UK regime sees Shell pay no taxes on North Sea business in 2019

Energy giant Shell paid no taxes on its upstream oil and gas business to the UK government last year, instead receiving large rebates, according to a new report.

Shell has published its Payments to Governments report, a legally required document outlining contributions it made to countries around the world in 2019 from its extractive oil and gas activities.

It shows the oil major paid no taxes for upstream to the UK last year, instead receiving a $116.5m (£94.5m) refund from HM Revenue and Customs, mainly related to decommissioning.

Activist group Greenpeace reacted with “anger” to the report and the tax regime in the United Kingdom.

The UK’s system, designed to encourage future investment, means that participators in certain older oil fields can carry-back losses – such as those arising from decommissioning – against profits previously made from them. This can lead to repayments of Petroleum Revenue Tax (PRT). read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell pays zero UK corporate income tax

By Pat Sweet

Pat Sweet

Reporter, Accountancy Daily, published by Croner-i Ltd

View profile and articles.

Anglo Dutch giant Royal Dutch Shell paid no corporate income tax in the UK in 2018 but claimed nearly £90m in tax reliefs

The company reported $731m (£557m) of profit before tax on revenues of $108bn and took over $115m (£87m) in tax reliefs related to North Sea oil platform decommissioning.

The figures are included in the company’s first tax transparency report detailing the corporate income tax that Shell companies paid in countries and locations around the world in 2018.

The tax contribution report provides information about the corporate income tax Shell paid in countries and locations in which it has a taxable presence across all its businesses, broken down on a country by country basis. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

The Telegraph: Shell admits to paying no UK corporate tax last year

: 17 DECEMBER 2019 

Royal Dutch Shell has revealed that it paid no corporate income tax in the UK in 2018 despite raking in $731m (£557m) of pre-tax profit on revenues of $108bn in the country.

The new report, published on Tuesday, is the first time the oil and gas titan has released public details of the corporate income tax paid in countries and locations across all its businesses. 

Shell said it would disclose the amount paid in an attempt to be “more transparent”.  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

FT: Shell reveals it paid no UK corporate income tax in 2018

Royal Dutch Shell paid no corporate income tax in the UK in 2018 despite the oil and gas group generating pre-tax profits of nearly $731m, after receiving tax refunds related to the decommissioning of North Sea oil platforms. The figures, published in a report by the Anglo-Dutch company showing a global breakdown of payments, come after it said it would voluntarily disclose how much tax it pays in each country as part of a broader transparency drive. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell publishes new Tax Contribution Report

Royal Dutch Shell (Shell) has published a new report detailing the corporate income tax that Shell companies paid in countries and locations around the world in 2018.

WEBWIRE – Tuesday, December 17, 2019

“Transparency is important for Shell – showing who we are and what we do is one of the best ways we can demonstrate the many contributions we make to society,” said Jessica Uhl, Shell Chief Financial Officer. “We hope that this report will help to create a better understanding of our businesses and the taxes we pay.”

The Tax Contribution Report provides information about the corporate income tax Shell paid in countries and locations in which we have a taxable presence across all our businesses. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Royal Dutch Shell Group paid no income tax in the Netherlands last year

English translation of an article published today by the Dutch FT

Shell makes little use of tax havens

BY Laurens Berentsen: 17 Dec 2019

In Brief

  • Shell was discredited last year because it does not pay tax on the profit it makes in the Netherlands.
  • The oil company gives openness today about how much income tax was paid in 2018 in the 99 countries in which it operates.
  • Tax director Alan McLean: more openness and facts lead to a better discussion about the tax behavior of the multinational.

The first public report in which Shell shows how much tax it pays per country disproves the image that the oil company is evading tax on a large scale. Less than 5% of the profit ($ 35.6 billion in 2018) is in notorious tax havens.

Shell chooses its locations for economic and not just for tax reasons, the company states in the report, which appears Tuesday. Critics will contradict this, tax director Alan McLean realizes.

Shell became discredited last year when it became known that the company does not pay taxes on the profit it makes in the Netherlands. The tax report, which Shell is publishing today, states that the company made a profit of about half a billion euros in the Netherlands in 2018, including refining and the sale of petrol. Also last year the group paid no income tax in the Netherlands. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

LAW360: EU Investigating Dutch Tax Rulings Granted To Shell

EU Investigating Dutch Tax Rulings Granted To Shell

By Matt Thompson · December 4, 2019, 1:01 PM ESTShell has been placed under investigation by the European Commission for possibly illegal tax rulings granted by the Netherlands, the company confirmed Wednesday.

The European Union’s enforcement arm is looking into…

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royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Dutch government to reform business tax rules

Associated Press: NEWS Sept 17, 2019
THE HAGUE, NETHERLANDS —

The Dutch government said Tuesday it plans to reform a business tax rule that allows wealthy multinationals to reduce the amount of tax they pay on their profits.

The government said the plan, which has to be passed by parliament, will generate 265 million euros ($292 million) per year in new income.

The announcement follows public outrage at revelations this year that some multinationals paid little or no tax on their profits.

Royal Dutch Shell confirmed in May that it paid no tax in the Netherlands last year on its profits, apart from at a natural gas joint venture, because it was able to offset profits with losses and costs made elsewhere in the world. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Dutch FT: Shell in conflict with Australian tax authorities

The British-Australian newspaper The Guardian discovered that Shell Energy Holdings Australia is trying to “get under” *(evade/dodge/escape/deflect?) the bill through the courts.

Printed below is an English translation of an article published today by the Dutch FT, Financieele Dagblad

Shell in conflict with Australian tax authorities

Maarten van Dun: 27 August 2019

Pedestrians walk past a Shell station in Melbourne. Photo: Carla Gottgens / Bloomberg

Shell has appealed against a decision by the Australian tax authorities. The ATO believes that Shell should pay back a tax benefit of A $ 755 million, converted to € 460 million. The Anglo-Dutch oil company wants to get rid of this tax assessment through the courts.

Shell received the tax assessment from the Australian Taxation Office (ATO) for its share in Australia’s largest gas field, the Browse project. That field is off the coast of Western Australia and has an estimated value of A $ 30 bln. Shell has a 27% share in the gas field, which has been developing for fifteen years. However, production has never started due to the low global gas prices. Since 2016, the work has stopped completely. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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