Post-Brexit: Netherlands shocked by Shell's departure from The Hague to UK

A Shell station in London.

(drawing).

REUTERS - Toby Melville

Text by: RFI Follow

1 min

The oil giant Royal Dutch Shell is about to leave The Hague for the United Kingdom.

The transfer of the company's head office soon had the effect of a bomb in the Netherlands.

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Royal Dutch Shell has had an iconic presence in the Netherlands for more than a century, making the intention of the oil giant to move its headquarters to the UK particularly painful for the Dutch.

The Anglo-Dutch group explains in a press release that it wishes to simplify its structure and align its tax residence with the country in which it is registered.

That is to say in the United Kingdom.

It is also there that he will now set up his headquarters.

A $ 400 million exit tax from the country?

The Dutch government said it was unpleasantly surprised and deeply regretted this decision.

Especially since the company will no longer be called "Royal Dutch Shell", but just "Shell", depriving the country of one of its most beautiful jewels.

The hydrocarbons company thus follows Unilever, another Anglo-Dutch group, whose shareholders voted at the end of 2020 in favor of a single parent company based in London, in a post-Brexit context.

For Shell, it's all about competitiveness.

But in truth, the firm could benefit from a much lower tax rate across the Channel.

However, the group will have to pay the Netherlands an exit tax of up to $ 400 million.

Shell's decision must now be voted on by shareholders at a general meeting on December 10.

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