On 19 January 2024, the Colombian Constitutional Court issued a decision in regard to its earlier decision issued on 16 November 2023 (Decision C-489) on a measure restricting the deduction of non-renewable natural resource royalties. As part of Law 2277 of 13 December 2022, an amendment was made to Article 115 of the Colombia Tax Statute (Decree Law 624 of 1989), which concerns the deductibility of taxes. The amendment added that taxpayers engaged in the exploration and exploitation of non…