Thursday, February 22, 2018

Too much revenue leakage*

Energy Minister at annual conference:

HONOURED: Vaughn Martin, centre, managing director of Massy Wood Group, and Jason Maitland, right, Massy Wood Group, receive the trophy for Excellence in STOW (Safe to Work) on behalf of their company from Energy representative Prem Dukharan during yesterday's Trinidad and Tobago Energy Conference and Trade Show 2018, at Hyatt Regency, Port of Spain. —Photo: STEPHEN DOOBAY

In fiscal 2017, energy companies received approximately TT$22.5 billion in gross income, but Government tax receipts reflected a mere 15 per cent of gross revenue, Energy Minister Franklin Khan revealed yesterday.

Khan said when benchmarked with other energy-producing countries, this figure was among the lowest in the world.

“This situation cannot be allowed to continue unabated,” he stated.


To get the full story, subscribe or login