Taxation talk... From the PAREX (T:PXT) Q4/annual results released today talking about the improved tax regime-Their was an earlier posting that the courts would re-instate royaltydeductions but this wasn't mentioned..
QUESTIONS:
COULD IT BE ALL THIS EXTRA TAXATION PROPOSALS HAS BEEN REDUCED TO JUST A INCOME SURTAX?
HOW COME THIS WASN"T COVERED BY GRAND TIERRA????
WHY DID GTE NEED ANOTHER $100 mil @ 9.5% INTEREST???
Debt, debt and more debt-stock got SAVAGED as a result of the share consolidation/new lefist govt regime-share price was double the current price a year ago and triple back in 2022..yet PXT continues to execute-yes its down a 30% from all time highs, yet it continues to pay a decent dividend and even raised it 50% in 2023...what gives with GTE??? just a terrible management team...see below...dwdc
"Starting with the 2023 tax year, Colombia introduced an income surtax that is linked to the historical Brent oil price over 10 years. Following December 31, 2023, the income surtax to be used for the 2023 tax year was confirmed. For Parex's 2023 current tax expense, the Company's forecast and tax provisions were completed at 15%, and came in lower than expected at 10%, which positively benefited 2023 current tax expense.
For 2024, the Company is currently assuming a 10% income surtax based on current commodity prices."