Tax changes announced by the Trinidad and Tobago government in its 2020 Budget were a disappointment for Trinity Exploration & Production (LSE: TRIN) but it continues to trade well.
The Supplemental Petroleum Tax (SPT) investment tax credit has been increased from 20% to 25%. However, that is offset by changing the capital allowances and reducing loss relief from 100% to 75% of taxable profit.
The companies in the oil and gas sector in Trinidad and Tobago are hopeful that further changes can be made in the future.
Third quarter
Group average production volumes were 2,816 barrels o...
