US, Colombia sign new pact to fight tax evasion

The United States and Colombia have signed a new deal to fight tax evasion, local media reported on Thursday morning.

The agreement means that now Colombia’s tax agency (DIAN) and the Internal Revenue Service (IRS) of the US will be able to formally provide each other with information about alleged tax evaders, regardless of nationality.

Tax evasion is a major problem in Colombia, costing the country millions each year, according to DIAN.

MORE: Colombia vows to combat tax evasion

The announcement comes a week after the director of Colombia’s tax collection agency called for a 70% increase in the number of tax auditors in order to be able to effectively combat tax evasion.

MORE: Colombia tax agency says it’s 7000 auditors short

Also, before the courts this week is the case of failed brokerage firm InterBolsa, which allegedly kept millions in the Caribbean tax haven of Curacao.

MORE: ‘InterBolsa executives should remain free during trial’: Colombia Inspector General

Sources

Avalan acuerdo entre Colombia y EE. UU. sobre información tributaria (El Tiempo)

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