Export tax/ deducting royalties from tax ban impact ...a comment from 2022 to show the potential damage to Columbian oil company returns NOTE the export tax was softened somewhat with the threshold for the export tax on oil changed to $71 per barrel, compared to a previous $48 per barrel..still, when you look at GTE's free cash flow, this has plummeted even with the end of OUT OF MONEY hedges, improved oil production and some of the highest prices is years...see below..dwdc
"Not allowing what companies transfer to the government to be deducted from royalties, plus the export tax that is being proposed, would mean this industry will end up paying 24% of the reform," Lloreda said, estimating oil companies' taxes could increase by 65% to 80%."