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The oil sector hopes Congress will not approve more taxes

Thursday, February 7th, 2013 Category: Regulations & Policy

There is concern in the oil sector about the possibility that Congress increases taxes on oil companies. Regarding this, Alejandro Martínez, Colombian Petroleum Association president, told a press conference: “We are extremely concerned about pending bills in Congress because these would increase the state’s share in the oil revenue, taking it from 70% to 90%, making Colombia lose competitiveness and attractiveness as an investment destination”.

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