Trinidad and Tobago
PROFIT BEFORE TAX
Main Business Activities
- Integrated Gas
Shell has been active in Trinidad and Tobago since 1913. Following Shell’s 2013 acquisition of Repsol’s LNG business and the 2016 acquisition of BG Group, Shell has a larger presence in Trinidad and Tobago.
Shell’s portfolio in Trinidad and Tobago includes exploration and production activities through both operated and non-operated ventures, as well as gas and oil pipelines and LNG facilities.
Country Financial Analysis
The general statutory corporate income tax rate in Trinidad and Tobago is 30%, with a separate tax regime for petroleum operations with a corporate income tax rate of 55%.
In Trinidad and Tobago, tax filings for production-sharing contracts (PSCs) are assessed by individual legal entity or asset. This means that losses in one PSC may not be offset against profits arising elsewhere. Overall, Trinidad and Tobago reported a loss for accounting purposes for the majority of assets in production. As a result, $20 million of corporate income tax was accrued on the profits of a few income-generating assets.