![]() ![]() ![]() ![]() While parking legal money abroad is not illegal in Colombia, authorities are unable to verify whether money stashed in fiscal paradises is legal, according to Ortega.Īuthorities worldwide suspect that money launderers of transnational drug trafficking organizations are using the fiscal paradises to keep the illegal profits from drug trafficking out of sight of authorities. The Colombian government has been pressing Panama to open the books on tax evasion, but without result. Tax evasion became a global hot topic after 11 million documents from Panamanian law company Mossack Fonseca were leaked.Īccording to newspaper El Espectador, more than 800 Colombians are client of the discredited law firm that has helped the world’s wealthy hide their assets from their respective countries’ tax authorities. In an interview with Caracol Radio, former DIAN director Juan Ricardo Ortega said that, based on research, the tax evasion practices of the wealthy makes the Colombian state lose out on billions of dollars in revenue every year. Colombia’s wealthy have $100 billion, more than a quarter of the country’s GDP, stashed in offshore accounts, the country’s former tax chief estimated Monday. ![]()
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