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Colombia to cut oil taxes in bid to boost exploration

Tuesday, November 10, 2015

Colombia will lower tax rates for oil companies drilling in some offshore blocks in the Caribbean, the Mines and Energy Minister said, in an effort to encourage exploration amid a global slump in the price of crude.

Contracts for various offshore blocks will get a 25 percent discount on income taxes and will be exempt from value-added tax and customs charges.

Fuente: Reuters