Imbert: Petrotrin owes $1.8B to BIR

53 in petroleum profits tax and $538,533,124 in supplemental petroleum tax.

The minister explained the non-collection of petroleum profits tax from Petrotrin began under the PP, “when in 2013, they failed to collect $196 million; in 2014, they failed to collect $1 billion; in 2015, they failed to collect $566 million.” He said the deficit for last year is $2 million. “I can say that under this government, Petrotrin has resumed once again, to start paying taxes to the Treasury which it was allowed not to do under the UNC (United National Congress) government,” Imbert declared. Responding to additional questions from Mark, Imbert said, “This gift of $1.8 billion in taxes is similar to the gift of $5 million in backpay which we were gifted upon assuming office.

It is not a simple matter but we are addressing it in a proactive and professional manner.” In response to another question, Imbert said Petrotrin owes the State royalties to the tune of $1, 210,868,765 for the production and monetisation of crude oil and condensate. Imbert also indicated he was trying to get “further and better particulars” as to why Petrotrin retained Canadian company SNC Lavalin as the project manager for its Ultra-Low Sulphur Diesel Plant.

As an Opposition MP while the PP was in office in 2012, Imbert raised concerns about allegations of corruption against SNC Lavalin, after the PP awarded the company the contract to build the $1 billion Penal hospital. That hospital has not been built to date.

Noting that SNC Lavalin was first retained by the People’s National Movement (PNM) in 2009 and this remain unchanged under the PP, Imbert said, “I cannot explain why the UNC government for five years and three months maintained a relationship with SNC Lavalin.” The minister also told the Senate that the percentage of natural gas sold by BGTT (now Shell) to the National Gas Company from January 1, 2016 to December 31, 2016 was 22.8 percent.