Macroeconomy/Finance

Government of Santa Cruz proposes to refund 12% of Hydrocarbons tax

The Governor’s Office of Santa Cruz referred a bill to the Legislative Assembly on Tuesday that proposes to restitute 12% of Hydrocarbons tax (IDH) that the previous state administration confiscated from governments, municipalities, and universities to create the Exploration Fund, which in five years accumulated $250 million. YPFB reported that they used the resources to finance ten exploration and development projects, an investment of $1.94 billion until 2018.

Source: El Deber