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Colombia's elite evade billions in tax, says official

Tuesday, April 5, 2016

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.

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.

Source: Colombia Reports