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Shell: US tax reform to have positive impact on results

( - Royal Dutch Shell expects to see a positive impact on its results from the recently enacted US tax reform, the oil major said on Wednesday.

The British energy group expects the change—effective 1 January 2018—to be favourable to its US operations, primarily due to the future reduction in the US corporate income tax rate from 35% to 21%.

In the short term though, the change in US tax legislation will impact Shell's fourth quarter 2017 results because of balance sheet adjustments.

As a result, Shell is planning to book an estimated charge to earnings of between 2 and 2.5 billion dollars, primarily driven by a re-measurement of its deferred tax position to reflect the lower corporate income tax rate.

This charge represents a non-cash adjustment and will be reflected as an identified item, the firm said.

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