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.


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