Tag: royalties
How Duque wants to push Colombia’s economy forward (and possibly sink his approval rating)
Colombia’s government will again try to push economic reforms through congress when it...
Colombia’s mysterious $4.4B tax break for oil and mining firms
Private oil and mining firms in Colombia have been registered as public entities with the...
Colombia govt reveals how it spends mining royalties
In a gesture of transparency, Colombia’s government has created a webpage called...
Colombia predicts 2012 royalties of $5.2B
Colombia’s President Juan Manuel Santos has predicted royalties of $5.2 billion for 2012, as the new system of oil and mining royalties takes effect. The head of state said “This [money] is going to be distributed...
Colombian towns receive as little as $0.20 in oil royalties
Contrary to what was outlined in a new law for more even redistribution of oil royalties passed by the Colombian government last year, some towns received as little as US $0.20 compensation. Carlos Alberta Zuluaga of the House...
Colombia to receive $4.5B in royalties in 2012: Finance Minister
Colombia’s Finance Minister says the country will earn $4.5 billion in royalties in 2012, financial magazine Dinero reported. Juan Carlos Echeverry made the prediction following a debate in Congress regarding the bill,...
Pacific Rubiales labor strike cost state $10M
The state will receive $10 million less in royalties as a result of the September labor strikes by Pacific Rubiales oil workers in the Meta department, Colombia’s Mining and Energy Minister Mauricio Cardenas announced Wednesday....
Colombia’s regional govts to recieve $4.59B royalties for 2012
Approximately $4.59 billion in government royalties will be distributed among Colombia’s departments and municipalities next year, announced Minister of Finance Juan Carlos Echeverry Tuesday. One third of the royalties, an...
Mining company forced to pay Colombia nearly $20M in royalties
One of the world’s largest ferronickel producers Cerro Matoso was forced to pay the state nearly $20 million in royalties following an audit by the Colombian Comptroller General’s Office, various media reported Monday. The...
Tax office to audit Colombian royalties
Colombia’s national tax office, DIAN, is to get new powers to audit and control state royalties from mineral and raw material exports, Portafolio reported Tuesday. The new powers aim to introduce drastic measures such as...
Colombian bill seeks hike in oil, mine royalties
Two Colombian senators want to hike royalties paid by foreign oil and mining firms with a bill that would put Colombia alongside countries like Venezuela and Australia in seeking a greater state share in resource wealth. The...
