Business
Royalties to be Paid
Audit Reveals S.p.e.l. Owes $4.8 Million In Royalties Dated Back To 2018
Scarborough, Tobago – Studley Park Enterprises Limited (SPEL) currently owes the Government of Trinidad and Tobago a substantial $4.8 million in royalties. This significant debt was revealed by Ashworth Jack, Chairman of the SPEL board.
Jack stated that the company underwent an audit in 2023, a process that occurred while they were awaiting the granting of an export license. The outstanding royalties reportedly date back to 2018, highlighting a long-standing financial obligation.
This revelation brings to light a critical financial matter for the state-owned enterprise and its contributions to national revenue.
Reporter Kandace Jackson has more details on this story, including the implications of the outstanding payments for SPEL and the government.
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