Trinidad & Toago talks to CIAT on US$1.4b annual tax leakage from LNG diversions
Saturday, October 01 2016 @ 03:12 PM AST
Contributed by: AleemKhan
"To reduce this tax leakage, we have engaged the Inter-American Centre of Tax Administrations (CIAT) to work with us on a policy and legislation to govern transfer pricing. Pending comprehensive legislation, we have engaged a transfer pricing consultancy to help us in formulating a commercial structure of arms’ length pricing that will advise the Government’s position in upcoming negotiations with Atlantic LNG."
Forecast by Morgan Stanley Research to be relegated to 7th, after Russia joins the top six, Point Fortin-based Atlantic LNG is still the world's 6th largest LNG exporter, according to the BP Stats Review 2016 re-released last month in T&T.