INTERNATIONAL TAX PLAZA - Shell expects the impact of the additional taxes in the EU (the solidarity contribution) and the deferred tax impact from the increased UK Energy Profits Levy to be around $2 billion on its Q4’22 earnings

Details: Published: 06 January 2023

On January 6, 2023 Shell published an update to its fourth quarter 2022 outlook. The update gives an overview of Shell’s current expectations for the fourth quarter.

In the update Shell states amongst other the following: “The Q4’22 earnings impact of recently announced additional taxes in the EU (the solidarity contribution) and the deferred tax impact from the increased UK Energy Profits Levy is expected to be around $2 billion. These impacts will be reported as identified items and therefore will not impact Q4’22 Adjusted Earnings and will have limited cash impact in Q4’22 given the expected timing of payments.”

The full text of the update as available on the website of Shell can be found here.

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