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Energy giant Shell will have to pay $2 billion in extraordinary taxes on its excess profits in the fourth quarter of 2022, France Press reported.

They are a consequence of the increase in taxes in the EU and Great Britain due to the increase in oil prices after the Russian invasion of Ukraine, writes BTA.

However, the British company specified that the extraordinary taxes will be treated as "exceptional items" and will not have an impact on its adjusted quarterly result.

At the end of November, the British government announced that the tax on energy profits, introduced in May, would be increased from 25 percent to 35 percent and extended by three years, until 2028. So London would heavily tax companies whose profits have grown explosively since the start of the war in Ukraine.

The director of "Shell": European governments should not interfere in the gas markets

The EU adopted at the end of September a "temporary solidarity levy" to be paid by producers and distributors of oil, gas and coal and their products, which have made huge profits due to the price spike caused by the war.

taxes

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extraordinary profit