Equinor: market relieved as group comes clean on tax
(CercleFinance.com) - Equinor announces the publication of its first tax report, a document that aims to provide details of the various tax contributions paid by Equinor and its subsidiaries in 2020, in the interests of transparency, detailing the company's tax governance.
CFO Ulrica Fearn said that that by reporting annually on what we pay and the tax policies we adhere to, our stakeholders will have a better understanding of how we conduct our business.
The report shows that in 2020, Equinor group companies collectively paid 3.1 billion dollars in corporate taxes and 1.4 billion dollars in royalties to state and local governments. A total of 2.7 billion dollars was captured by Norway, where Equinor has a large share of its operations.
The market clearly appreciates the group's transparency, with the share currently up over 2%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
CFO Ulrica Fearn said that that by reporting annually on what we pay and the tax policies we adhere to, our stakeholders will have a better understanding of how we conduct our business.
The report shows that in 2020, Equinor group companies collectively paid 3.1 billion dollars in corporate taxes and 1.4 billion dollars in royalties to state and local governments. A total of 2.7 billion dollars was captured by Norway, where Equinor has a large share of its operations.
The market clearly appreciates the group's transparency, with the share currently up over 2%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.