Shell sees profits, charge in US tax bill
USA
THE HAGUE, December 27, 2017 – Shell expects a Q3 charge of USD 2 billion-2.5 billion from the recently passed US tax reform bill, but expects future profits to outweigh losses, the super-major said on Wednesday.
“Royal Dutch Shell expects the potential economic impact of the recently enacted US tax reform legislation to be favourable to Shell and to its US operations, primarily due to the future reduction in the US corporate income tax rate from 35% to 21%,” the company said in a statement. “This change in US tax legislation (effective January 1, 2018) will impact Shell’s Q4 2017 results, but the analysis of the actual impact is not yet complete.”
The bill, signed by US President Donald Trump into law on December 22, 2017, is expected to force Shell and other corporations to reduce their deferred tax assets, among other impacts that the industry is still gauging.
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