Shell Books $6.2 Billion in Untaxed Profits at Bahamas Trading Desk, Leak Investigation Shows

businesslaw 2 posts · 1 accounts

A leak-based investigation traced $6.2 billion in profits booked between 2018 and 2023 by a 37-employee Shell trading office in the Bahamas, where the earnings were not taxed, according to Follow the Money. The financial records, obtained from files stolen during the company's 2020 breach of the Accellion file-sharing platform, detail a transfer-pricing arrangement that routed funds through the Caribbean jurisdiction.

A Dutch tax professor criticized the company's Dutch cost-sharing structure as illegal, prompting Shell to categorically reject any suggestion of unlawful tax practices. The leaked documents, distributed on the dark web following the breach, provide the first detailed view of how the energy giant utilized its Bahamas unit to optimize its global tax liability.

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‼️ Leaked files show how multinational oil and gas company Shell shifted billions in profits to tax havens. Files stolen from Shell in the 2020 Accellion breach and dumped on the dark web have now been used to reconstruct how the company a

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