Trinidad and Tobago
Employees
414
Total tax contribution
$595,649,879
Taxes borne
$578,365,516
Taxes collected
$17,284,363
-
Third-party revenues
$1,928,989,655
-
Related-party revenues
$1,830,405,989
-
Total revenues
$3,759,395,644
-
Profit before tax
$1,302,840,899
-
Corporate income tax paid
$577,476,863
-
Corporate income tax accrued
$575,028,974
-
Stated capital
$557,834,855
-
Accumulated earnings
$(366,962,429)
-
Tangible assets
$1,386,213,456
-
Other payments to governments
$873,733,975
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(shell.com/payments-to-governments).