THE HAGUE (dpa-AFX) - Shell Plc (SHEL), a British oil and gas company, said on Friday that it expects around $2 billion additional tax hit on its fourth quarter of 2022.
The tax impact relates to additional taxes or the solidarity contribution in the European Union or EU, as well as the deferred tax from the increased UK Energy Profits Levy.
However, the impact of increased taxes will not hurt its final quarter earnings.
The company said, '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 fourth-quarter results are scheduled to be published on February 2.
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