The oil company has defended itself in response to allegations that a tax structure it established as part of the relocation of its headquarters from London to The Hague has cost the Dutch treasury up to €7bn ($8.1bn) in lost income. The accusations relate to the use of an offshore trust in Jersey since 2005 and have led to calls for the European commission to investigate Shell's tax affairs. Shell said on Tuesday that it had paid all taxes due under UK law over the past five years but would not comment further until after the investigation was complete.
The oil company has defended itself in response to allegations that a tax structure it established as part of the relocation of its headquarters from London to The Hague has cost the Dutch treasury up to €7bn ($8.1bn) in lost income. The accusations relate to the use of an offshore trust in Jersey since 2005 and have led to calls for the European commission to investigate Shell's tax affairs. Suggestions that the arrangement conflicts with European Union rules and that Shell could face similar penalties to Apple for breaching state aid regulations have been reported by Dutch newspaper Trouw.