Shell to talk tax with angry investors
Multimillion-pound tax bill forces oil giant to talk to angry UK Royal Dutch Petroleum investors
Shell tax experts are to meet UK Royal Dutch Petroleum shareholders this week
to try to find a way of dealing with a £77m tax bill that arose from Shell’s
multibillion-pound restructuring.
The oil giant is expected to announce today how many investors in RDP have
accepted the terms of the merger by yesterday’s deadline of 3pm, The Daily
Telegraph reports.
Shell has always maintained that it has no way of helping British holders in
RDP who have been left with a large capital gains tax bill as a result of the
merger of RDP with Shell Transport and Trading, to create Royal Dutch Shell. It
says the offer was fair to all shareholders on a pre-tax basis.
However, the Anglo-Dutch oil giant confirmed that a meeting was planned on
Friday with the Association of Private Client Investment Managers and
Stockbrokers that has been co-ordinating the shareholders.
A spokesman told the newspaper: ‘APCIMS have requested a meeting and we are
prepared to meet with them. We have no details about what is going to be
discussed.’