Saint Lucia
0 Employees
-
Third-party revenues
$28,110,501
-
Related-party revenues
$0
-
Total revenues
$28,110,501
-
Profit before tax
$99,899,405
-
Tax paid
$0
-
Tax accrued
$0
-
Tangible assets
$0
-
Stated capital
$1,286,523,848
-
Accumulated earnings
$(993,928,544)
Main business activities
- Holding investments
Shell’s footprint
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. Our recent review of entities in low-tax jurisdictions included the holding companies in Saint Lucia for upstream and liquefied natural gas (LNG) operations in the Caribbean. Following the review, we consolidated the operations and simplified the holding structures. 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 does not pay corporate income tax in Saint Lucia because it 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. In the prior year, an overall loss before tax arose as a result of the asset impairments in Saint Lucia. In 2021, there was no impairment and the entity earned revenue in the form of dividend income and recorded its share of profit from its investment in LNG operations in Trinidad and Tobago.
