News

Trinidad: T&T’s oil revenue under new threat-from French 75% withholding tax

As the government of T&T, unlike its Caribbean counterparts, continues to fail to get T&T removed from a European Union blacklist even once, T&T could be about to lose close to millions of dollars in oil revenue this year, a French tax attorney confirmed over the Easter weekend.

France is getting ready to charge a 75 per cent withholding tax on payments made by French companies to blacklisted countries. In T&T’s case, that would be oil and gas producer Perenco’s payments to T&T.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s