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Colombia seeks to increase coal taxes

Colombia's government has modified a tax reform proposal to allow oil and mining companies to continue to deduct royalty payments from their income taxes following pushback from the sector about the proposed increase in government take. Colombia already has one of the highest government takes in the region.

Paul Harris in Medellin, Colombia
Colombia's finance minister Jose Ocampo

Colombia's finance minister Jose Ocampo

Finance Minister Jose Antonio Ocampo agreed to continue to allow royalty deductions in exchange for raising income taxes on extractive industries by 5% as well as increasing a proposed export tax for oil...

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