Wednesday, December 27, 2017
Shell says it expects recently enacted US tax reform legislation to have a ‘favorable’ impact on its operations.
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)
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