Shell will pay US$2 billion in taxes in the European Union and the UK

Oil company Shell reported this Friday that it will pay around US$2,000 million (about 1,900 million euros) in extraordinary taxes in the European Union and the UK, in accordance with 2022.

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This is in response to changes introduced in the EU and UK since September to tax the windfall profits that oil and gas companies make from high global commodity prices.

This $2 billion would be in addition to the $360 million in contingent tax fees the company has disclosed to investors, he said.

With this decision, the oil company will pay tax in the UK for the first time in five years. In recent years, the company has received tax breaks for investments made in the North Sea.

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Shell, which will release its annual results next month, also reported that trade in its chemicals business is expected to be “significantly lower” in the last quarter of 2022 compared to the previous quarter.

He added that liquefied natural gas (LNG) production during the quarter was impacted by massive outages at two plants in Australia.

EFE

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Roderick Gilbert

"Entrepreneur. Internet fanatic. Certified zombie scholar. Friendly troublemaker. Bacon expert."

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