Business
Continuation of the customs adjustment process initiated by the Tax Authority
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC, the "Company" or "Ecopetrol" and together with its subsidiaries, the "Ecopetrol Group") informs that on May 29, 2025, the Dirección de Impuestos y Aduanas Nacionales (the "Tax Authority") notified Refinería de Cartagena S.A.S. (the "Refinery") of two resolutions mandating the Refinery to conduct correction assessments in relation to customs import declarations for gasoline. In accordance with the Tax Authority's interpretation of the law, the Refinery ow
About this update from Ecopetrol Sa
[{"type":"text","content":"BOGOTA, Colombia, June 26, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC, the "Company" or "Ecopetrol" and together with its subsidiaries, the "Ecopetrol Group") informs that on May 29, 2025, the Dirección de Impuestos y Aduanas Nacionales (the "Tax Authority") notified Refinería de Cartagena S.A.S. (the "Refinery") of two resolutions mandating the Refinery to conduct correction assessments in relation to customs import declarations for gasoline. In accordance with the Tax Authority's interpretation of the law, the Refinery owed approximately COP 1.0 trillion, plus estimated interests to date of COP 2.1 trillion, for the import of gasoline between 2022 and 2024. On June 26, 2025, the Refinery filed the corresponding motions for reconsideration against the aforementioned customs correction assessments.","length":882,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Ecopetrol S.A.)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Ecopetrol S.A.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":141,"url":"https://media.zenfs.com/en/prnewswire.com/e8cafca3c864cd1d6b9d7e5819c8e320"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ntYhuyKX4q5Z0wbsUa4tqg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI0OTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/e8cafca3c864cd1d6b9d7e5819c8e320","width":400,"height":141}},"href":"https://mma.prnewswire.com/media/2321203/ecopetrol_s_a__logo_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The official assessments notified by the Tax Authority to the Refinery reflect the continued differences in regulatory interpretation between the Tax Authority and the Ecopetrol Group—an issue that the Refinery has detailed in its motions for reconsideration.","length":259,"tagName":"p"},{"type":"text","content":"Considering that the Tax Authority has decided to apply its regulatory interpretation, Ecopetrol and the Refinery have been making VAT payments on gasoline and diesel imports at the 19% rate since January 2025. It is important to note that these VAT payments do not affect Ecopetrol's and the Refinery's rights to challenge the Tax Authority's interpretation at the appropriate time and before the relevant authorities.","length":431,"tagName":"p"},{"type":"tex...