2/3rd of Colombia’s elite in Panama Papers guilty of tax evasion: Minister
written by Adriaan Alsema May 17, 2016
Two thirds of the 1,245 Colombians that appeared in The Panama Papers have evaded taxes by not reporting their foreign assets with Colombia’s tax agency, the finance minister and tax chief said Tuesday.
Finance Minister Mauricio Cardenas and the director of tax agency DIAN, Santiago Rojas, held a press conference on the preliminary investigation of possible tax invasion by those who funneled money abroad through Panamanian tax firm Mossack & Fonseca, whose administration was leaked.
This means that more than 800 people, the bulk belonging to Colombia’s business and political elite, could expect to be investigated for tax evasion either by the prosecution or the tax office.
According to Colombia’s former tax chief, Colombians have funneled more than $100 billion, more than a quarter of the country’s entire GDP, to tax havens.
The evasion of taxes on this money has become one of the main challenges for the DIAN and the government, which has been criticized for its inability to adequately raise taxes to fund government expenses.
The low tax revenue has become an imminent problem for Cardenas as dropping oil prices have cut revenue from the country’s oil exports in half, leaving a major deficit in the country’s 2016 budget.
According to the director of the DIAN, some 50 officials have been investigating the persons and firms mentioned in the Panama Papers and already have the warrants for an extensive tax audit of 60 people appearing on the leaked list.
Rojas said that criminal charges will be filed in cases where fraud is established, and warned that those who effectively have evaded taxes will be fined by the tax office itself.
http://www.worldaffairsjournal.org/content/23rd-colombia%E2%80%99s-elite-panama-papers-guilty-tax-evasion-minister?utm_source=World+Affairs+Newsletter&utm_campaign=503a969cda-May_17_2016_WNN5_17_2016&utm_medium=email&utm_term=0_f83b38c5c7-503a969cda-294672653
written by Adriaan Alsema May 17, 2016
Two thirds of the 1,245 Colombians that appeared in The Panama Papers have evaded taxes by not reporting their foreign assets with Colombia’s tax agency, the finance minister and tax chief said Tuesday.
Finance Minister Mauricio Cardenas and the director of tax agency DIAN, Santiago Rojas, held a press conference on the preliminary investigation of possible tax invasion by those who funneled money abroad through Panamanian tax firm Mossack & Fonseca, whose administration was leaked.
“The first thing that needs to be said is that… the percentage of people and firms that effectively have declared their investments in that country and reported them before the DIAN is extremely low.”
Finance Minister Mauricio Cardenas
“Of all the people who were listed, only 35% have reported these investments. In other words, 65% has evaded his obligation.”
Finance Minister Mauricio Cardenas
This means that more than 800 people, the bulk belonging to Colombia’s business and political elite, could expect to be investigated for tax evasion either by the prosecution or the tax office.
According to Colombia’s former tax chief, Colombians have funneled more than $100 billion, more than a quarter of the country’s entire GDP, to tax havens.
The evasion of taxes on this money has become one of the main challenges for the DIAN and the government, which has been criticized for its inability to adequately raise taxes to fund government expenses.
The low tax revenue has become an imminent problem for Cardenas as dropping oil prices have cut revenue from the country’s oil exports in half, leaving a major deficit in the country’s 2016 budget.
According to the director of the DIAN, some 50 officials have been investigating the persons and firms mentioned in the Panama Papers and already have the warrants for an extensive tax audit of 60 people appearing on the leaked list.
Rojas said that criminal charges will be filed in cases where fraud is established, and warned that those who effectively have evaded taxes will be fined by the tax office itself.
http://www.worldaffairsjournal.org/content/23rd-colombia%E2%80%99s-elite-panama-papers-guilty-tax-evasion-minister?utm_source=World+Affairs+Newsletter&utm_campaign=503a969cda-May_17_2016_WNN5_17_2016&utm_medium=email&utm_term=0_f83b38c5c7-503a969cda-294672653
» The President of the Republic: Approving the budget is a starting point for the development process
» KTFA Wednesday Night CC "The World Pours Into Iraq's Reforms" 2-1-2023
» KTFA Members "Wednesday News" 2-1-2023
» An Iraqi delegation to Washington: pledges to cut dollar smuggling routes
» A financial expert warns the Central Bank of resorting to storing the local currency because of the
» The New York Times: Baghdad is losing green spaces to the real estate boom
» Minister of Industry: Iraq is a safe environment for investment
» Work: The value of our loans is 8 million, despite the law allowing 20 million
» Financial expert Mahmoud Dagher issues a warning about local currency storage
» Saudi Foreign Minister to the President of the Republic: What we hear about Iraq gives hope and econ
» After the dollar's jump to more than 170,000.. security raids, stock exchanges and exchanges stopped
» A deputy close to Al-Sudani attacks Al-Halbousi again: He distributes the committees to the heads of
» In their meeting that took place yesterday.. What did Al-Abadi and Al-Sudani discuss in terms of mea
» Details of the Council of Ministers decision to create job grades
» Gulf Electrical Interconnection Authority: Next month, we will start working in southern Iraq, and i
» Al-Kaldani, Al-Samarrai and Talabani confirm their support for the steps of the Sudanese government
» A detailed map of the parliament's work... 70 laws on the way to legislation, including governmental
» Kurdistan is on a quiet fire.. An Iranian threat to invade and a decision from Baghdad may change th
» The President of the Republic calls on the Ministries of Justice and the Interior to resolve the cas
» The Kurdistan government attacks the Federal Ministry of Oil: it puts pressure on companies in the r
» A deputy stresses the need to hold manipulators accountable at dollar exchange rates and invites rel
» About 7 billion tons annually.. A specialist determines the value of Iranian gas debts to Iraq
» US network: Washington controls the entire energy sector in the Kurdistan region
» The Minister of Labor directs to survey all areas inhabited by Bedouins in Muthanna
» In numbers... The Council of Ministers' decision to create job grades
» A government directive to construct a train between the holy city of Karbala and Najaf
» Foreign Minister to his Saudi counterpart: We have continuous cooperation in the field of security a
» Conscious / a political movement calling on al-Sadr to end his retreat
» Aware / Al-Zubaidi: America is playing its tricks against Iraq through its control of oil revenues
» Ina / Al-Sudani directs to audit the revenues generated by mobile phone companies
» Ina / Al-Tamimi: The Democratic call for structuring the Federal Court is illegal
» As part of his series of meetings, the delegation of the Kurdistan Democratic Party visits the headq
» Masrour Barzani is discussing with the British ambassador holding parliamentary elections in the reg
» Al-Sudani and Al-Abadi are looking for "effective solutions" to control the dollar prices
» Fuad Hussein: We are looking forward to providing Iraq with electric energy through the Saudi or Gul
» The $100 category exceeds the barrier of 170,000 dinars in the markets of Baghdad and Erbil
» Currency auction sale.. Central bank sales of dollars decreased by more than 38%
» A Turkish company submits proposals for the construction of residential cities and roads projects in
» Finance announces the direct financing of the salaries of retirees for the current month of February
» Oil prices rise with the decline of the dollar and the decision of OPEC +
» Basra Oil expects the acquisition rates of "Iraq and Qatar" in the Total project
» SOMO: The average price of a barrel of oil exported to Jordan was less than 9 dollars over the past
» Trade reveals the fate of the ration card after the delay in approving the budget
» The governor of Baghdad obliges the companies executing the projects to double the working hours
» Al-Sudani: All possibilities are contained in adjusting the exchange rate of the dollar
» With a circulation close to a trillion dinars.. The Iraq Stock Exchange reveals the most important i
» The most prominent of which is a comprehensive economic crisis.. Mahmoud Dagher summarizes the conse
» Iraq's oil revenues rise by 1.1% in January
» Theft of the century involves new defendants, including a former tax director
» A plan to consolidate private university education
» The distribution of parliamentary committees arouses the discontent of components and independents
» The opening of Iraqi schools in European countries early next year
» Trade: No new additions to the ration card items
» A “slow” rapprochement between the two Kurdish parties
» Al-Asadi: About two million are unemployed
» Investment directs companies to adopt the official price
» Planning It manages repair and reconstruction projects
» Specialists warn of a decline in the "monetary mass" of the dinar
» An American vision: Al-Sudani is active, cunning, and pragmatic, and he can play the role of mediato
» To solve the dollar crisis.. A parliamentary proposal to convert car purchases into Iraqi dinars
» An American network: The recent federal decision will raise home and car premiums by 10%
» Parliamentary Finance begins to discuss the Workers' Retirement Law in preparation for its passage
» Awareness movement declares opposition to the framework government and looks forward to ending al-Sa
» Recovering $80 million...and integrity: fighting corruption is a collective responsibility
» The foreign minister and the US ambassador discuss the axes and agenda for Washington's visit
» وزير الهجرة تبحث مع السفير الإيطالي أوضاع المكونات وملف الهجرة غير الشرعية
» Youth Minister: If the visa expires, the process of visiting Iraq will continue
» Continuous health control campaigns implemented by the health control staff in the Karkh side to imp
» International report: The performance of the Iraqi government during the first 100 days was not sati
» The United States refuses to postpone dollar conversion restrictions due to Iranian provocations
» With a financial contribution.. Education intends to open Iraqi schools in European countries
» Al-Sudani directs government institutions to give full space to media directors
» Billions of dollars... Reasons why Qatar seeks to invest in Iraq's oil
» Work determines the controls for granting loans to citizens
» The foreign minister and the US ambassador discuss the agenda for the Iraqi delegation's visit to Wa
» Al-Sudani directs to audit the revenues generated by the mobile phone companies
» Parliamentary Planning Committee: Making amendments to the constitution has become necessary
» Integrity reveals an exaggeration in purchasing medical devices at 700 million dinars in Nineveh
» Saudi Foreign Minister: There is a positive economic development with Iraq
» Deputy: The Central Bank will issue within two days new instructions to control exchange rate fluctu
» The dollar jumps to 172 thousand Iraqi dinars
» Crazy rise... The exchange rate of the dollar exceeds 174 thousand dinars
» The President of the Republic receives the Secretary General of the Supreme Coordinating Committee f
» The Ministry of Commerce announces the launch of large quantities of foodstuffs at competitive price
» Electoral Commission: National Union decisions are consistent with the law and the internal system
» President Pavel Jalal Talabani: Our goal is to consolidate law, social justice and serve citizens
» The Commission informs the KRG that the co-chairmanship system in the Patriotic Union is over
» The House of Representatives calls on the government to resolve the file of exchange rate volatility
» Parliamentary Finance discusses the Social Security Bill in preparation for its passage
» Parliamentary movement to form a committee to follow up on the delay in sending the draft budget law
» The stability of the exchange rates of the dollar in the Iraqi markets today
» The Kurdish house disputes over Allawi and Talabani's table.. Here are the details of the meeting
» With an official visit.. The Saudi Foreign Minister arrives in Baghdad
» Al-Baldawi: The exchange rate file will be among the priorities of the Sudanese upcoming visit to Am
» Economist: The Swift platform came in favor of Iraq. How?
» People's eyes await Washington's visit...the government is chasing the dollar with a "resuscitator"
» A Kurdish response to a Turkmen claim... Has Article 140 of the Constitution "fallen"?proposals from
» Economist: Al-Sudanese statements confused beliefs about the price of the dollar in the 2023 budget