Profit before tax
Main business activities
- Holding investments
Shell has had a presence in Barbados since 1982. In 2017, Shell acquired Chevron Trinidad and Tobago Resources SRL (a Barbados-incorporated entity, renamed Shell Trinidad and Tobago Resources SRL). Shell Trinidad and Tobago Resources SRL holds investments in LNG operations in Trinidad and Tobago. See Trinidad and Tobago for more details.
Country financial analysis
The statutory corporate income tax rate in Barbados varies from 0% to 5.5%, depending on the type of business activity and level of income in the entity. Profits from the operations of Shell Trinidad and Tobago Resources SRL in Trinidad and Tobago are not taxable in Barbados. The main revenues of Shell in Barbados were associated with holding investments in LNG activities in Trinidad and Tobago. Barbados does not tax dividends and therefore Shell did not pay corporate income tax in Barbados. The increase in the profit before tax is primarily driven by a decrease in interest relating to outstanding loan balances and a reduction in currency exchange losses.