Donald Trump US tax reforms ‘set to BOOST oil giant Shell’


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Donald Trump signed his tax recover bill into law in the Oval Office on December 22

The group said the January 1 mutates – largely the cut in corporation tax from 35 per cent to 21 per cent – should be “reassuring”, but will affect its fourth-quarter results.

It will announce the full change as part of its fourth-quarter and full- year results on February 1.

But it said that, based on third- home earnings, the tax reforms will see it take a charge of $2 billion (£1.5 billion) to $2.5 billion (£1.9 billion) due to a re-measurement of its tax stance to reflect the reforms.

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The legislation reduces corporation tax from 35% to 21%

Donald TrumpGETTY

This is the largest leave behind of the US tax system since the 1980s

Corporations are literally going wild all about this, I think even beyond my expectations, so far beyond my expectations

Donald Trump

The company suggested in a statement: “Royal Dutch Shell expects the potential economic crashing of the recently enacted US tax reform legislation to be favourable to Shell and to its US operations, pre-eminently due to the future reduction in the US corporate income tax rate.”

President Trump maintained the biggest overhaul of the US tax system since the 1980s would be “fantastic for the conciseness”.

He said: “Corporations are literally going wild over this, I propose b assess even beyond my expectations, so far beyond my expectations.”

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