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Trinidad and Tobago

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Total tax contribution


Taxes borne


Taxes collected


  • Third-party revenues


  • Related-party revenues


  • Total revenues


  • Profit before tax


  • Corporate income tax paid


  • Corporate income tax accrued


  • Stated capital


  • Accumulated earnings


  • Tangible assets


  • Other payments to governments


Shell's footprint

Shell has been active in Trinidad and Tobago since 1913. Shell has exploration and production activities through operated and non-operated ventures, as well as natural gas pipelines and liquefied natural gas facilities. In 2022, as part of a consortium, Shell and its partners took a final investment decision to build the first utility-scale solar power plant in Trinidad and Tobago.

Country financial analysis

The statutory corporate income tax rate in Trinidad and Tobago is 30%. The rate under the separate tax regime for companies with petroleum operations is 55%. In Trinidad and Tobago, tax filings for companies operating under a production-sharing contract (PSC) are assessed according to the individual legal entity and asset block. In general, losses in one PSC may not be offset against profits elsewhere. Tax paid and accrued in 2022 is the result of profits made by most of our existing production assets. The increase in revenues is attributable to higher oil and gas prices as well as delivery of first gas in Block 22 and NCMA-4 in March 2022. Our Payments to Governments Report for 2022 shows that Shell paid around $873.7 million in production entitlements, royalties, bonuses and fees.

Read more in Total tax contribution and in Payments to Governments Report(

Payments for bonuses usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced or production has reached a milestone.
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Corporate income tax
This is a direct tax imposed on companies’ profits. It is sometimes levied at a national level but can also be levied on a state or local basis.
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Fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded from this report. Also excluded are payments made in return for services provided by a government.
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Production-sharing contracts or concessions
A production-sharing contract is a contractual arrangement between the holders of a resource, typically a country’s government, and a resource extraction company, concerning how much oil or gas each party would receive. The company bears the mineral and financial risk of the initiative. It explores, develops and, if successful, manages production. Costs are recovered through the sale of oil or gas and what is left over is split depending on the terms of the contract.
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Royalties are generally payments due for the use of an asset. Mineral royalties are payments to governments or other owners for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken. See Trademark royalties.
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Tax paid
This includes corporate income tax paid in 2022. In some cases, it may include payments made in relation to previous years or future years, as tax payments are often made in arrears or in advance. It also includes accrued withholding taxes on dividend, interest and royalty payments to Shell entities. It does not include withholding taxes collected by Shell on dividends paid to shareholders.
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