Aidee Rojas reports for El Deber:
DELAY IN THE DISBURSEMENT
YPFB poses to defer payment of HDI and royalties
The transfer of the resources will be in uniform fees over 10 years
The President of YPFB, Carlos Villegas, said yesterday about deferring the payment in five years, of the royalties and direct tax to the hydrocarbons (IDH) to municipalities and governorates, generated from the new fields discovered over the next years.
According to Villegas, deferred resources will be repaid in uniform aliquots during the 10 years following the implementation of the standard. These funds will be reinvested in projects of oil exploration and, akin to replenish stocks consumed in the country. Currently the reserves sideways the 11,37 trillion cubic feet (TCF) of natural gas.
According to the proposal, exposed to the Federation of municipal associations in the country, economic transfer shall be three years for new discovered areas that contain resources less than 1 TCF of natural gas and five years for areas with reserves above 1 TCF.
The Secretary of Finance of the governorate of Santa Cruz, José Luis Parada, said that if that proposal takes place, it will be risk to the capital of intermediate Governments because no one ensures that the exploration delivers economic returns; in addition, confirms the [Central] Government intention to confiscate the resources to the governorates, since the Ministry of Economy sent the budget ceiling for 2014, which reduces by 12% the royalty resources.
On the other hand, the Secretary of Finance of the Government of Tarija, Grover Pereira, said that their region will not endorse the proposal because it will harm the implementation of the projects in the communities.
Bolivia and Santa Cruz in a special way, expressed their will for more autonomy, not in paper but real access to funding to develop their regions. Current central government is thinking more on their perpetual and illegitimate re-re-election and after eight years in government, which clearly shows their failure to discover/expand our hydrocarbon reserves, now engages in semantics and comes up with this ridiculous and distorted proposal.