Profit before tax
Main Business Activities
- Holding investments
Shell has been present in Saint Lucia since 2016 through investment holding companies inherited as part of its acquisition of BG Group, which began business there in 2002. These entities have interests in companies doing business in Trinidad and Tobago. See Trinidad and Tobago for more information.
We reviewed recently acquired entities, such as holding companies in Saint Lucia for upstream and liquefied natural gas (LNG) operations in the Caribbean. Following this review, we consolidated the operations and simplified the holding structures. As a result, we identified four Saint Lucian entities for liquidation and completed these liquidations in 2021.
Country Financial Analysis
The statutory corporate income tax rate in Saint Lucia is 30%.
Shell in Saint Lucia earns dividend income from its investments. Saint Lucia does not tax dividends as they are paid from profits that have already been taxed in the country where the activities that generated the profits take place. Administrative activities relating to Saint Lucia are outsourced. Shell in Saint Lucia has no employees in the country.
Higher revenues in 2020 resulted from restructuring undertaken to consolidate interests in companies doing business in Trinidad and Tobago. However, an overall loss before tax arose as a result of the impact of asset impairments in Saint Lucia.