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I will be voting Yes, I can't think of a reason not too.
A much more simplified structure, at arms reach from the Dutch green lobby (I hope( but with the global reach of Londons main market.
Shell just keep on delivering as far as I am concerned.
If I can avoid paying Holland tax on my A series shares it gets my vote.
NQM - You are absolutely right, this is really massively positive for Shell. Re-branding, re-positioning in the market, embracing and recognising dramatic change, re-directing the company, shaking off the shackles of the past! Soon Shell will be outside the jurisdiction of the Dutch courts, apart from its continuing presence in Holland. Soon they will have as much influence on Shell policy as Jules Holland!
Perhaps the Dutch courts will realise that they cannot easily dictate policy to global multi-nationals like Shell, or they might just opt for changing the playing field. Behind the scenes lengthy discussions will have taken place with the British Government to check their stance on dictating policy to the big oil companies. The Dutch Government having lost Unilever only a year ago, might start to realise that losing big multi-nationals is becoming a pattern of events for them!
This will send shock-waves through any multi-nationals thinking of re-locating or head-quartering in Holland. It is also a massively positive step for the UK. And it is a Dutchman directing this seismic change. This is the biggest news on Shell yet, although doubtless some will not be able to see it!
Smithy - The Netherlands and the United Kingdom have a double taxation convention and protocol for the avoidance of double taxation. The agreement was signed on September 26 2008 and was entered into force on 25 December 2010.
You need to pursue this with the IRS.
So I can claim back holding tax on A series Dividend? My understanding was, I couldnt?
Dutch government seeks to scrap dividend tax in bid to keep Shell in the Netherlands
Mehreen Khan in Brussels
The Dutch government has made an 11th hour attempt to keep Shell in the country by seeking to abolish a controversial dividend tax that the energy giant has complained about.
Officials from the Dutch government told the Financial Times the caretaker government of Mark Rutte is seeking to find a last-minute parliamentary majority to scrap a 15 per cent withholding tax that has been a source of complaint for Anglo-Dutch companies Unilever and Shell for many years.
The political machinations come hours after Shell announced it would end its dual share structure between the UK and the Netherlands, moving its entire tax base to Britain. The Dutch government said the announcement was an “unwelcome surprise” and is now engaged in last-ditch talks to scrap its dividend tax.
Earlier this year, Shell boss Ben van Beurden cited the Netherlands’ failure to abolish a dividend tax as a potential reason for leaving the country.
In 2017, Rutte’s coalition government promised to scrap a 15 per cent withholding tax to make the country a more business friendly environment to encourage both Unilever and Shell to relocate entirely to the Netherlands. But the proposal was shelved after sparking political uproar. Unilever subsequently announced last year it was moving its headquarters to London from Rotterdam.
Smithy its down to the tax situation of individuals. You need to contact the IRS and explain your situation to them.
MMM - Great news! I was always taught that companies should identify and mitigate risks wherever possible! Regardless you will know when they become issues that have to be dealt with when they bite you hard on the rear end!
The lesson to learn from this is don't play poker with Ben van Beurden. This guy is a genius! He might even go for the Dutch Government paying his refining costs for a year, from any green fund that is handy to them! Certainly he should hold out for the Dutch Government sponsoring a 12 cylinder gas-guzzler for each member of the Shell Board, if he wants to have some fun with this!