Atlantic LNG pays $7.5M in taxes to Point Fortin Corporation

Atlantic LNG last week paid its  Land and Building taxes to  the Point Fortin Borough Corporation. The TT$7.5 million cheque represents sums due in respect of the company’s three operating facilities for 2003. Land and Building Taxes for the LNG company alone are said to be almost four times the total of taxes paid by all other residents and corporate entities in the Borough, a release stated.
 
It is the largest bill of its kind for any industrial facility operating in Trinidad and Tobago, the statement added. Atlantic’s three trains occupy about 84 hectares of  partially reclaimed land at Point Fortin. The company began operation of  Train 1 in 1999 and a 2-train expansion project was completed in  May of this year. The Point Fortin Corporation levies and collects its own taxes for assisting in  meeting the expenses of the Borough. This substantial increase in revenue gives Point Fortin the highest tax income of all boroughs in the country, including the Port-of- Spain Corporation.