Trinidad and Tobago’s electricity generation is completely fired by fuel, but only 8% of its natural gas output is channelled to electricity generation. Directing the gas to its power stations deprives the country of potential revenues that could be gained from selling liquefied natural gas (LNG) as feedstock, especially given that only one of...
While the upstream sector is the main driving force behind the prosperity of Trinidad and Tobago’s energy industry, further efforts are needed to strengthen the downstream sector against challenging conditions. Increased shale gas output in the US has pushed down costs for processing fuel and feedstock for production, and lessened their...
Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing...
Tax reform is a critical issue for Trinidad and Tobago, as the island nation struggles with ineffective collection and does not raise enough revenue to cover government expenditure. Statistics compiled by the OECD found that T&T collected tax revenue worth 22.9% of GDP in 2016, an amount in line with the 22.7% average of 25 Latin American...
In a public address delivered in January 2018, Prime Minister Keith Rowley promised a “slow return to growth” for the twin-island nation. An uptick in economic activity would certainly be welcomed by Rowley, who was elected in September 2015 during the middle of a difficult period: Trinidad and Tobago posted negative GDP growth for three out...
One key strategy for improving the performance of Trinidad & Tobago’s economy is strengthening the country’s base of small and medium-sized enterprises (SMEs). Developing this class of businesses is expected to help create formal sector jobs, diversify GDP, and reduce dependence on oil and gas exports.
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