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Nicaragua loses $700 million a year to tax dodgers

Thursday, May 10, 2012

Nicaragua loses up to 10 percent of its gross domestic product to tax evasion each year, according to the country's Institute for Strategic Studies and Public Policies.

In monetary terms, the amount equals losses of up to $700 million each year.

The institute recommends the implementation of tax education programs, as well as stiff penalties for businesses and professionals who fail to meet their tax obligations.

Source (in Spanish): El Nuevo Diario