January 2, 2018 / 7:30 AM / a year ago

BP expects U.S. earnings uplift from tax reform

Jan 2 (Reuters) - British energy company BP expects a positive impact on future post-tax earnings from the United States after the changes to U.S. corporate taxes, it said on Tuesday.

The company said that the lowering of the U.S. corporate income tax rate to 21 percent from 35 percent requires revaluation of BP’s U.S. deferred tax assets and liabilities.

BP said it expects a one-off non-cash charge of about $1.5 billion on this year’s fourth-quarter results. (Reporting by Arathy S Nair in Bengaluru; Editing by David Goodman)

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