The latter immediately becomes the main reason that Shell submitted for the plan. There are currently two types of Shell shares: class A, listed on the Amsterdam AEX, and class B. The latter is traded via London’s FTSE index.

Lobbying for years

These two types of stocks make trading complicated, as investors have found for years. In the UK, no tax is payable on dividends paid by Shell, but in the Netherlands there is.

Although Dutch investors can resolve the issue with the tax authorities, Shell has been lobbying for years together with food group Unilever to have the dividend tax abolished in the Netherlands.

This seemed to work, but in the end it didn’t after huge social pressure and the cancellation of Unilever’s plans to set up its headquarters in the Netherlands.

Last summer, Shell CEO Ben van Beurden had hinted that his company might leave the Netherlands. By simplifying the company structure, the company can operate more quickly. The company hopes this will make Shell better able to survive the competition.

Meeting of Shareholders

Van Beurden and finance director Jessica Uhl also moved to London, as did a number of executives. Shell remains active in the Netherlands with renewable energy development and other energy innovations. This happened both in The Hague and Amsterdam.

On December 10, the company’s shareholders can vote on the plan at a general shareholder meeting in Ahoy.

The cabinet was not amused

The decision was received with disbelief in The Hague. The company informed the outgoing cabinet of the plans yesterday. “We are very surprised by this. The cabinet deeply regrets this intention,” said Stef Blok (Economic and Climate Affairs, VVD) who will end his term.

“We are in discussions with Shell’s top management regarding the consequences of this plan for jobs, key investment decisions and sustainability. “This is very important,” said Blok.