Latinnews Daily - 15 August 2003

Corruption costs Colombia US$5bn a year, according to vice president Francisco Santos. He said that the government lost most money through tax evasion, embezzlement, defective public works projects, and simple waste. According to the vice president, tax evasion alone costs Colombia Col$6tr (over US$2bn) each year, which is equivalent to 3% of GDP. The government is in the process of drawing up a law to crack down on non-payment of taxes. 

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