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Increased UK Windfall Tax Hits Shell’s Earnings for Last Quarter of 2022

Started by Epoch-Times-Bot, Jan 06, 2023, 09:00 AM

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Epoch-Times-Bot

Jan 06, 2023, 09:00 AM
Increased UK Windfall Tax Hits Shell's Earnings for Last Quarter of 2022

The increased level of UK windfall taxes on oil and gas producers has hit Shell's earnings in the fourth quarter of 2022, the company has said.
Shell revealed it will face a hit of $2 billion (£1.7 billion) to its latest quarterly earnings due to windfall taxes in both UK and the European Union.
The London-listed oil giant told investors on Friday that its earnings for the final quarter of 2022 were hit due to the increased UK energy profits levy and additional EU taxes.
In total, Shell said it now expects to have paid between $4.3 billion and $4.7 billion in global taxes over the fourth quarter....

Source: Increased UK Windfall Tax Hits Shell's Earnings for Last Quarter of 2022

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