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Royal Dutch Shell Plc said it expects recently enacted U.S. tax reform legislation to have a “favourable“ 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.
