Shell and their 2022 profits just announced

Only if the entire £32.2 billion was generated in the UK. According to @Norman_Conquest's earlier post, only 5% of their profits came from their UK operations, and they don't expect to pay any tax on that after offsetting decommissioning and investment costs.
That was taken from the BBC website and they've changed their wording and figures on this now. I suppose you need to do that when you are a journalist for the government and the then PM got you the job.
 
Only if the entire £32.2 billion was generated in the UK. According to @Norman_Conquest's earlier post, only 5% of their profits came from their UK operations, and they don't expect to pay any tax on that after offsetting decommissioning and investment costs.
When companies like Apple make profits in the UK they don't pay taxes here.

Large multinationals can't have it both ways if they pay tax on profits they either pay in the country they are based in say Shell in the UK or pay in the countries they generated the revenue in. The UK is neither getting a proper corporation tax from the big IT companies nor from the oil companies. Multinationals benefit a lot from UK tax payers buying their good and services, our public roads, our military and security, our medical service, our education system etc.

Its not just Conservative governments that has encouraged tax dodging by multinationals, it was also Labour when they were in power and the EU.
 
This is capitalism guys, get in the real world...

I'm sure most of you have indirectly invested with these companies somewhere in your financial portfolios and pensions...

But when the cap fits....
Thanks👍
Yeah! Stop talking Britain down! Shell is a fantastic British business success story that will certainly keep me warm tonight as I lie in bed with thick socks on. :rolleyes:
 
When companies like Apple make profits in the UK they don't pay taxes here.

Large multinationals can't have it both ways if they pay tax on profits they either pay in the country they are based in say Shell in the UK or pay in the countries they generated the revenue in. The UK is neither getting a proper corporation tax from the big IT companies nor from the oil companies. Multinationals benefit a lot from UK tax payers buying their good and services, our public roads, our military and security, our medical service, our education system etc.

Its not just Conservative governments that has encouraged tax dodging by multinationals, it was also Labour when they were in power and the EU.
Biggest profits since they made $31bn in 2008 ($45bn in todays terms).

There didn’t seem to be as much fuss when Amazon announced over 10 times the profits that Shell made.
 
Biggest profits since they made $31bn in 2008 ($45bn in todays terms).
That was when the oil prices were at $150 a barrel.
The following year the profits dropped by 52% and they laid thousand of workers off.

Lets hope they have the same outcome next year.
Seriously, what a vile individual you are. The only losers are the working man or woman who lose their jobs and your hoping it happens again what a pr*ck.

Always amazes me this. International Company makes record profits and then the British media report it to make them look like the bad guys. Shell has very little in terms assets in the UK and production is dwindling away. They don't sell all of their oil and gas in the UK and as stated its probably a very small fraction of their business with bigger profits in poorer countries.

How many other companies make huge profits and are not reported? Meta and Google make obscene amounts of money and its off the use of your data and also advertisement on your browsers. How much Tax do they pay for the potential 55million users they target in the UK. At least Shell are producing a product that is saleable and they hardly dictate the prices.

Ask yourself why the British economy should benefit from profits made from cheap oil and gas production from third world countries. They should be given the taxes not the UK so get a grip of yourselves.
 
I do have some money in equity, but I look at the whole of the UK society and I would say most don't at present. Most over 65s probably rely on the state pension for the majority of their retired income or a public sector pension or some welfare benefits. Example people on here getting armed forces pensions, NHS pensions, teaching pensions - they are all dependent on UK tax revenue. The under 60s are more likely to putting into some sort of private pension, but most young people are putting in 3% which will only generate a small pension (say around £6,000 per year in todays money so the state pension @ £9,500 for them will still be their biggest form of retirement income).
 
I work part time, as a delivery driver for a pharmacy. As you might imagine, a large percentage of the people I deliver to are OAP's. Virtually every one of them is now answering the door, wearing gloves, with a wooly hat and layers upon layers of clothes. Most of the younger people I deliver to are eating cold meals or eating only microwaveable meals, because they can't afford to turn the oven on. They often get mocked for eating at Greggs or Morgans, but in reality these are the only warm foods they are able to afford.

Despite this, we still have a large rump of the Tory party who believe that the way to make things better is to give tax cuts to millionaires, to further dismantle public services and the welfare state and who still think Truss and Kwarteng are right. I know that I should really blame Tory politicians for this, and I do, but it is becoming harder and harder to stay civil with those who voted for these amoral, psychopathic tossers.
 
Biggest profits since they made $31bn in 2008 ($45bn in todays terms).

There didn’t seem to be as much fuss when Amazon announced over 10 times the profits that Shell made.
1. They aren't a British Company
2. People CHOOSE to buy things from amazon. People NEED energy companies
3. I don't think we need a three after this level of deflection
 
Seriously, what a vile individual you are. The only losers are the working man or woman who lose their jobs and your hoping it happens again what a pr*ck.

Always amazes me this. International Company makes record profits and then the British media report it to make them look like the bad guys. Shell has very little in terms assets in the UK and production is dwindling away. They don't sell all of their oil and gas in the UK and as stated its probably a very small fraction of their business with bigger profits in poorer countries.

How many other companies make huge profits and are not reported? Meta and Google make obscene amounts of money and its off the use of your data and also advertisement on your browsers. How much Tax do they pay for the potential 55million users they target in the UK. At least Shell are producing a product that is saleable and they hardly dictate the prices.

Ask yourself why the British economy should benefit from profits made from cheap oil and gas production from third world countries. They should be given the taxes not the UK so get a grip of yourselves.
Poor countries should benefit from oil extraction. Its normally a royalty which is a cost to Shell

Example Oil barrel seels for $80 but out of that Shell pays say $10 to the Nigerian Government.

The profit figure reflects the cost of royalties.
 
Seriously, what a vile individual you are. The only losers are the working man or woman who lose their jobs and your hoping it happens again what a pr*ck.

Always amazes me this. International Company makes record profits and then the British media report it to make them look like the bad guys. Shell has very little in terms assets in the UK and production is dwindling away. They don't sell all of their oil and gas in the UK and as stated its probably a very small fraction of their business with bigger profits in poorer countries.

How many other companies make huge profits and are not reported? Meta and Google make obscene amounts of money and its off the use of your data and also advertisement on your browsers. How much Tax do they pay for the potential 55million users they target in the UK. At least Shell are producing a product that is saleable and they hardly dictate the prices.

Ask yourself why the British economy should benefit from profits made from cheap oil and gas production from third world countries. They should be given the taxes not the UK so get a grip of yourselves.
Sorry, I was being sarcastic.
Agree with all you said (apart from the top bit!)
 
Example Oil barrel seels for $80 but out of that Shell pays say $10 to the Nigerian Government.

The profit figure reflects the cost of royalties.
I like you optimism, $10 per barrel would be a fair rate but I can almost guarantee you that is not the case. The Nigerian government would be lucky to receive any money from the oil and gas extracted due to the corruption within Nigeria. It is more than likely whoever was in charge at the time received a large brown envelope with some cash in and turned the other way allowing Shell, Bp and Total along with all other multi national companies extract oil for little to no costing.

Interesting you make that assumption though yet don't actually associate it with the UK. If Shell extract oil or gas from the UK they would also pay royalties to the British government, contributing to the British economy but you want to have your cake and eat it. Royalties and Taxes.

The UK is a very expensive place to produce oil and gas due to wages and little production figures in comparison to abroad and I know a target of $5 per barrel production cost was the target in around 2014 for a certain company and they managed to achieve it. Granted it's all based on the number of barrels produced but if the UK production cost was $5 per barrel then I would imagine Africa and various other nations are below $1 per barrel.

The bottom line is the Tax for the oil or Gas should go to the nation it was taken from. It's their oil and gas not the rich western companies and nations who should be profiteering from. Just as the white man took people for slavery the next will be the white man stole all our commodities.
1. They aren't a British Company
2. People CHOOSE to buy things from amazon. People NEED energy companies
3. I don't think we need a three after this level of deflection
1. You're right not British anymore, which companies actually are. If someone says their headquarters is in London then big deal. They could easily move it to a tax haven if UK wants more Tax for a lot less cost than paying the Tax bill.
2. People do CHOOSE to buy from Amazon and other retailers but do so also knowing they have heating bills to pay, rent, water, council tax and food bills but doesn't usually stop some.
 
1. You're right not British anymore, which companies actually are. If someone says their headquarters is in London then big deal. They could easily move it to a tax haven if UK wants more Tax for a lot less cost than paying the Tax bill.
2. People do CHOOSE to buy from Amazon and other retailers but do so also knowing they have heating bills to pay, rent, water, council tax and food bills but doesn't usually stop some.
1. Any chance you can translate that one into english
2. Yeah, it's the victims of this extreme theft, it's the people who can't afford to heat their houses that are to blame. How silly of me to think otherwise.
 
Shell is a British company, HQ in London, so will pay Corporation Tax, and windfall taxes in the UK on its worldwide profits.
 
1. Any chance you can translate that one into english
2. Yeah, it's the victims of this extreme theft, it's the people who can't afford to heat their houses that are to blame. How silly of me to think otherwise.
1. IF you cannot read it maybe you should return to do some O-Levels, GCE's, GCSE's or whatever they have made up these days.
2. It's not blaming, you say people CHOOSE to buy from Amazon but NEED energy companies. I say SOME people CHOOSE to buy from Amazon over paying energy bills because they believe it be their right and then feel victimised when supply is cut off.

People target energy companies as they like to be called these days as oil is a dirty word but they do not set the prices. OPEC set the prices which is basically the Middle East. They produce far great quantities than most nations and you just have to look at the profits of Saudi Armco who made something like $172bn profit last year.
Gas and Oil is sold on demand just as all other commodities and if the lack of Gas pushes the price up then they get the blame for what some accuse of "holding back supplies". No company is holding back in the UK or Europe except possibly Norway because they need the gas and at the prices it has been over the last year would be stupid to be holding it back.

Everyone is targeting the oil and gas companies because the Media want you too. It's all just a big game for the likes of Stalmer to push his campaign. Do you think he would be doing anything different to these companies or as many think already just tax the seen as RICH who are higher tax payers.
Shell is a British company, HQ in London, so will pay Corporation Tax, and windfall taxes in the UK on its worldwide profits.
Oh is that so, well what are we all having a discussion about then Shell will be paying their UK taxes happy days 🤡
 
1. Your first post probably only made sense in your own head. Given you can't explain it I guess I can ignore it as in illiterate rant
2. So, you're blaming the victims then. Righto. Classy
 
1. Your first post probably only made sense in your own head. Given you can't explain it I guess I can ignore it as in illiterate rant
2. So, you're blaming the victims then. Righto. Classy
we are all victims as you put it to energy company high prices expect some CHOOSE to put it before luxuries. Take it how you want in terms of blaming victims but myself, yourself and everyone else is a victim of high energy prices and we all act in a way we want with the responsibilities we have. IF it fits your agenda then carry on and feel that way but I know myself and many I know act responsibly and put things in an order they need to be for survival.
 
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