Shell's Operations Seen Boosted By US Tax Overhaul
Dec 27 (Reuters) - Royal Dutch Shell Plc said it expects recently enacted U.S. tax reform legislation to have a "favorable" impact on its operations.
The change in U.S. tax legislation, which is a reduction to 21 percent from 35 percent, will affect Shell's fourth-quarter 2017 results but added the "analysis of the actual impact is not yet complete."
The Anglo-Dutch company said it expects to provide details of the impact of the tax reform, which is effective from Jan. 1, in its fourth-quarter 2017 results.
However, Shell said it would have incurred a charge to earnings of $2.0 to 2.5 billion, on the basis of its third-quarter statements.
On Dec. 22, U.S. President Donald Trump signed the $1.5 trillion tax overhaul into law, cutting tax rates for businesses and offering some temporary cuts for some individuals and families.
(Reporting by Justin George Varghese in Bengaluru, editing by Louise Heavens)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Shell Agrees to $1.9B Sell of Upstream Danish Assets to Noreco (Oct 17)
- Tight Oil, Shale to Drive Majors' Output to New Highs (Oct 16)
- Shell, Equinor Commit to Tanzania LNG as They Await Host Accord (Oct 16)