Ecopetrol SA’s funds are in danger from a $2.2 billion declare from Colombia’s tax company, in line with the state oil producer’s essential staff union.
The union, often known as USO, mentioned in a Could 4 assertion that tax company DIAN is charging Ecopetrol 9.4 trillion pesos for worth added tax on gasoline imported since 2022 to produce the native market. This resolution is a “biased interpretation of the tax statute,” the union mentioned.
Ecopetrol didn’t instantly reply to a request for remark. DIAN mentioned it’s planning to publish a press release later Monday.
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Colombia’s funds deficit ballooned to six.8 % of gross home product final 12 months, the very best for the reason that pandemic, and overshooting the restrict imposed by the nation’s anchor, often known as the “fiscal rule,” which is supposed to restrict the federal government’s capability to run up debt.
Ecopetrol’s shares fell 1.7 % in early Bogotá buying and selling. Its greenback bonds are among the many worst performers Monday in Latin America, in line with a Bloomberg Index.
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