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Tax evasion in Panama drops more than half

Thursday, September 19, 2013

Tax evasion in Panama has dropped more than half over the last four years, said Luis Cucalón, administrator for the country's tax authority.

In 2009, the government reported $2.3 billion in tax income, while in 2012, the number was $5.2 billion.

However, Cucalón said there are still 395 companies, of a total of 400 which were reviewed, who jointly owe the state $400 million.

Source (in Spanish): La Estrella