Royal Dutch Shell Plc said it expects recently enacted U.S. tax reform legislation to have a “favorable” impact on its operations.

The change in U.S. tax legislation, which is a reduction to 21% from 35%, will affect Shell’s fourth-quarter 2017 results but added the “analysis of the actual impact is not yet complete.”

The Anglo-Dutch company said it expects to provide details of the impact of the tax reform, which is effective from Jan. 1, in its fourth-quarter 2017 results.

However, Shell said it would have incurred a charge to earnings of $2.0 to 2.5 billion, on the basis of its third-quarter statements.

On Dec. 22, U.S. President Donald Trump signed the $1.5 trillion tax overhaul into law, cutting tax rates for businesses and offering some temporary cuts for some individuals and families.

 

Source CNBC