The abolition of dividend tax has made Shell think about moving its headquarters from the Netherlands. That way, the Dutch-British company could end its double share structure, the FD writes on Saturday.
Ben van Beurden, the CEO of the Dutch-British oil company, says in an interview with the FD that he is thinking about the option. Although according to Van Beurden there are no concrete plans yet.
Shell sees the abolition of dividend tax as a limiting factor.
Shell currently has its head office in The Hague. With a move to the UK, the company would only need to issue shares through the UK tax system.
In 2018, the Rutte-III cabinet decided not to abolish dividend tax for companies. In the UK, the tax on distributed profit for shareholders is still zero. This makes it fiscally more attractive for Shell to establish its headquarters in this country.
Unilever, another British-Dutch multinational, also announced plans to move its headquarters from the Netherlands to the UK last month.