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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 anā¦ https://t.co/o9hVhkEOqX
A top Colombian court rejects the Petro governmentās request to postpone paying back unconstitutional royalty taxes to oil and mining companies https://t.co/i5tKm5zRk4
