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Costa Rican finance minister resigns in tax scandal

Tuesday, April 3, 2012

Costa Rican Finance Minister Fernando Herrero resigned yesterday after investigations revealed he wasn't paying his fair share of taxes.

At the same time, Herrero was lobbying for a reform package that would hike taxes for most Costa Ricans.

The investigation revealed that Herrero and other government officials for many years had declared property values at lower than market rates in order to pay less taxes than the law required.

Source: AFP