The new oil surcharge proposal is 115% more expensive for businesses than originally proposed in the government’s tax reform and is 5% heavier than what was approved in the first debate. This is according to the Colombian Oil and Gas Association (ACP), in a report that analyzes the recent change in income tax for the […]
Tag: ACP
Tax on coal and oil exports comes from the tax
Presenting the tax reform for the first debate, the tax on coal and oil exports will be abolished and royalties will not be deductible. In addition, a surcharge on the income tax is determined. Finance Minister José Antonio Ocampo explained that the surcharge for oil and coal companies will be 10% in the first year, […]
Weakening oil and gas industry would hit the economy
The weakening of the industry of oil and gas It would have major implications for the country’s economy as investments of $105 billion would be halted over the next four years and $18 billion in tax contributions and royalties from companies in the sector would be lost to the nation and regions. This is what […]
Oil and gas revenue could reach $105 billion: ACP
The Colombian Oil and Gas Association (ACP) prepared the economic report “Energy policy scenarios and their impact on Colombians,” on the contributions the sector could make to the country over the next four years, and even this decade, according to the country’s direction for the Next presidential elections. Two scenarios are presented, one of maintaining […]
No immediate increase in oil production expected: ACP
The chairman of the Colombian Petroleum Association (ACP), Francisco Lloreda, said that even with these high oil prices resulting from the war in Ukraine, an immediate increase in oil production in the country is not expected, more than expected. “It must be taken into account that the exploration and production of hydrocarbons it is characterized […]