British public ‘being ripped off’ as Shell pays just 22p in tax per citizen despite record profits
1 year, 7 months ago

British public ‘being ripped off’ as Shell pays just 22p in tax per citizen despite record profits

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The British public are being “ripped off” by Shell, which made record profits of £32 billion last year while paying the equivalent of 22p per UK citizen in tax, campaigners have said. Why are we doing so badly at taking tax revenue?” The windfall tax takes the marginal tax rate on North Sea oil and gas production to 75%, one of the highest rates globally HM Treasury spokesperson Global Witness said the UK ranks 19th out of the 25 countries in which Shell operates for the amount of tax it paid. There is no way morally or frankly just practically that British citizens should have received the pitiful sum of just 22p each from the fossil fuel giant in taxes last year Alice Harrison, Global Witness Global Witness said Shell paid more than £1,000 per citizen in Norway, though there are around 60 million less people than in the UK. Alice Harrison, fossil fuels campaign leader at Global Witness, said: “2022 saw Shell rake in record profits amidst a deep and painful energy crisis that pushed millions of Brits into poverty.

History of this topic

Shell demands 'certainty' on Labour's oil policy after Reeves hikes windfall tax to 38%
2 months, 1 week ago
Why the rapid death of North Sea risks leaving taxpayers on the hook for billions
3 months, 3 weeks ago
North Sea oil giant demands windfall tax overhaul after £63m hit
9 months, 1 week ago
Shell profits plunge last year from a record high as oil and natural gas prices drop
11 months, 1 week ago
Shell profits plunge last year from a record high as oil and natural gas prices drop
11 months, 1 week ago
Tax from gas industry forecast to double as industry pushes back on calls for tax changes
1 year, 8 months ago
Taxpayers pouring billions into North Sea oil and gas decommissioning
1 year, 9 months ago
Oil giant Harbour Energy blames windfall tax as it cuts hundreds of jobs
1 year, 11 months ago
Biggest North Sea producer refuses to drill new oil wells because of windfall tax
2 years ago
Shell reconsiders £25bn investment in UK energy over windfall tax raid
2 years, 1 month ago
UK Budget 2022: Oil and gas giants are hit by higher windfall tax in autumn statement
2 years, 1 month ago
Taxpayer subsidy to energy giants ‘could exceed 100p in the pound’ if Hunt increases windfall tax
2 years, 1 month ago
Shell 3Q earnings double, stir debate on energy profit tax
2 years, 2 months ago
UK scraps tax cut for wealthy that sparked market turmoil
2 years, 3 months ago
Labour blasts ‘absurd’ tax regime after report shows oil giant Shell received £100m from UK
2 years, 4 months ago
Third of windfall tax cash raised ‘could be handed back to oil firms’
2 years, 7 months ago
Rishi Sunak’s ‘obscene’ tax relief for fossil fuel firms will ‘cost taxpayer £1.9bn a year’
2 years, 7 months ago
Oil giant Shell profits nearly triple to £7.3 billion as fuel prices surge
2 years, 8 months ago
Shell reports record 1st-quarter earnings as oil prices soar
2 years, 8 months ago

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