Chief prosecutor: Colombia’s tax reform fails to tackle tax evasion

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On 2 January 2017, the chief prosecutor of Colombia slammed a tax reform claiming the latest tax system is unsuccessful to tackle the mass tax evasion. Mr. Nestor Humberto Martinez, the Prosecutor General sent a letter to the Minister for Finance increase stern objections concerning the extensive reform bill that took effect on first January.

Martinez in the letter to Minister Mauricio Cardenas said “It would be a mockery by any Colombian Prosecutor General to say that we are taking a certain, firm step against tax evasion”.

He added “Unfortunately the law did not foresee anything about the conduct of taxpayers who omit their duty to file income tax returns, deceptive behavior manifestly harmful to the public purse”.

The Prosecutor General claims that the anti-evasion article whereby tax evaders will be penalized for hiding assets does not go far enough to protect full compliance with the new rules.

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