Posts Tagged ‘Shell Tax Dodging’

Suzanna Caldwell: May 25, 2013

Millions of dollars in potential taxes were a primary reason Royal Dutch Shell decided to move the Arctic-ready conical drilling unit Kulluk from Dutch Harbor before the end of the year, according to the company’s Alaska operations manager.

The taxes were part of a hierarchy of issues the Shell Alaska venture considered before moving the Kulluk — the centerpiece of Shell’s $4-billion-plus Arctic drilling program — Sean Churchfield, Shell’s Alaska operations manager, told a US Coast Guard marine casualty investigation Saturday. read more

Thursday, April 25, 2013

Mumbai: Global oil major Royal Dutch Shell Thursday said it has moved the Bombay High Court here, challenging the USD 1 billion demand made by the tax authorities on a four-year-old equity infusion.

“Shell confirms that it has filed a writ petition in the Bombay High Court challenging the draft tax order,” the Anglo- Dutch oil major said in a statement. The company “will continue to evaluate all options for redress available to resolve this tax dispute”, it said. read more

By NEHA THIRANI BAGRI: February 4, 2013

The Indian unit of the Anglo-Dutch oil company Royal Dutch Shell said Monday that it would challenge a notice by the Indian tax authorities alleging tax evasion through the transfer of shares.

Deepak Mukarji, a Shell India spokesman, said that the company had received an order on Friday from the income tax department of India that accused Shell India of evading taxes by underpricing a share transfer within the group by approximately $2.8 billion.

At the center of the controversy is a share sale by Shell India to Shell Gas BV, its overseas parent , in March 2009. Shell India issued shares worth 870 million rupees ($160 million) to Shell Gas BV, or 87 million shares at a value of 10 rupees per share, but the Indian tax authorities now contend that each share was actually worth 183 rupees. read more

Published February 02, 2013 by Dow Jones Newswires

The Indian unit of Royal Dutch Shell PLC (RDSA) Saturday said it is in talks with tax authorities in India over alleged tax evasion.

Earlier in the day, Mint newspaper, citing a person familiar with the matter, said that the Indian income tax department charged Shell India of under pricing a share transfer within the group by 150 billion rupees ($2.8 billion) and consequently evading taxes.

Citing television channel ET Now, the report also said that the income-tax order relates to the issue of 870 million shares by Shell India to an overseas company Shell Gas BV in March 2009. read more

By John Donovan

The Alaska Dispatch has quoted from an email that Shell Alaska spokesperson Curtis Smith (right) sent on 27 December 2012.

Curtis said in his email:

“it’s fair to say the current tax structure related to vessels of this type influenced the timing of our departure.”

He also said it could cost “multiple millions” if the Kulluk was still in Alaska waters Jan. 1.

I think we can safely assume that Mr Curtis will have earned a big black mark against his name at Shell PR for telling the truth. That is not a quality that Shell management is looking for in a spokesperson. read more

By Brooke Jarvis January 11, 2013 10:37 AM ET EXTRACT

In December of 2011, Royal Dutch Shell produced a series of videos advertising the company’s plans to drill for oil in the Arctic Ocean. Their tagline: “It’s time to explore, and Shell is Arctic Ready.”

That slogan sounds rather different after 2012, a year in which little went as the company planned – this week prompting U.S. Secretary of the Interior Ken Salazar to announce an urgent, high-level review of what went wrong. (FULL ARTICLE) EXTRACT

I reached out to Shell in both Houston and Alaska to gauge the company’s willingness to absorb costs incurred by public entities. Neither location made a representative available to answer questions by deadline. [See update at bottom.] The company did clear up one gauzy point, albeit to other outlets. As we reported earlier this week, Shell was motivated to move the Kulluk when it did to avoid paying tax to Alaska on the rig in the new year. From United Press International: read more