US to share bank account information with Colombia

Colombia’s finance minister said on Tuesday that the United States will begin to share Colombians’ bank information in order to assist with curbing tax evasion.

According to the Ministry’s website, Colombians with US accounts with a balance of more that $50,000 will now see this information passed on to the National Tax and Customs Office.

The information will not include the value of real estate but will aim to target those who are seeking to evade paying tax in their home country.

Source: Colombia Reports