On November 15, 2021 Royal Dutch Shell issued a press release announcing that it during its General Shareholders Meeting of December 10, 2021 Royal Dutch Shell seeks shareholder approval to change its Articles of Association to allow the simplification of the company’s structure.
The simplification of the company’s structure a.o. includes:
· The proposal will establish a single line of shares to eliminate the complexity of Shell’s A/B share structure.
· The proposal will also align Shell’s tax residence with its country of incorporation in the UK, where it will hold Board and Executive Committee meetings, and locate its chief executive and chief financial officer.
In a reaction on Twitter the Dutch Ministry of Economic Affairs published a tweet stating that the Dutch Government is unpleasantly surprised by Shell’s intention to move its tax residence to the UK (See the attached photo).
But how is it possible that the Dutch Government, or Dutch politicians for that matter, is/are surprised by this decision of another multinational to move its tax residence to the UK? If that is true you have no feeling what is going on! People like Paul Tang and Jesse Klaver already for several years are allowed to bash multinationals by telling lies and half-truths regarding the Dutch tax system without any of the other politicians ever taking stand against the lies and half truths told by the aforementioned gentlemen. It looks like because of short-term electoral motives none of the current politicians has the guts to defend the Dutch tax system and to explain the facts in fair and true manner. Which now for the second time seems to have a negative impact! Earlier Unilever already changed its tax residence to the UK.
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