Colombia's Constitutional Court has upheld a ruling allowing companies to deduct royalties from taxes, denying the government's request to delay refunding unconstitutional royalty taxes to oil and mining companies. This decision follows historical issues in the oil market related to expensing royalties, with Colombia's court emphasizing the importance of resolving such matters. The ruling also mandates the government to reimburse the companies for previously paid royalties, providing a positive outcome for Colombian producers.
Colombian courts, after reversing the Petro non-deductibility on royalties, has ruled that in addition to full deductibility, the government *must pay back what was paid*. This is a positive windfall for Colombian producers. I will be writing about this in detail on the blog.
Colombia's Constitutional Court denied on Monday proposals from the finance ministry to modify a ruling that struck down a ban on oil & mining companies deducting royalties from their taxes, reports @Reuters. This comes in a move the leftist government has said will force an… https://t.co/o9hVhkEOqX
A top Colombian court rejects the Petro government’s request to postpone paying back unconstitutional royalty taxes to oil and mining companies https://t.co/i5tKm5zRk4
Colombia Court Upholds Ruling on Royalty Tax Deductions, Rejects Petro's Plan https://t.co/KgmtzGhVaT
A top Colombian court rejects the government’s request to postpone paying back unconstitutional royalty taxes to oil and mining companies https://t.co/oVr26qHQJb
Colombia court upholds ruling allowing companies to deduct royalties from taxes https://t.co/Qi1r06Er1G https://t.co/Wzzx3lOuK4
Those who studied the oil market history know that "expensing" royalties was a major issue in the 1960s & solving it is considered one of the biggest successes of OPEC. Oil majors used all kinds of accounting gimmicks to milk the host countries. Colombia court upholds ruling…
#Colombia court upholds ruling allowing companies to deduct royalties from taxes #oott https://t.co/2vtN3WKc7L
🔵 COLOMBIA COURT UPHOLDS RULING ALLOWING COMPANIES TO DEDUCT ROYALTIES FROM TAXES Full Story → https://t.co/u3l4EepL8z Colombia's Constitutional Court denied on Monday proposals from the finance ministry to modify a ruling that struck down a ban on oil and mining companies…
Colombia Court Rejects Petro’s Plan to Delay Royalty Tax Refund https://t.co/trQ6V4Sp09