TPC Group is an international consultant specialized in Transfer Pricing with offices in 15 countries in Latin America. It’s CEO, Carlos Vargas Alencastre, informed on a press note that Peru’s tax evasion amounted to $20 billion US dollars in 2017.
Other aspects that intensify the increase of tax evasion are cross-border operations from multinational groups which sometimes transfer large amounts of capital to other countries to take advantage of tan and legal benefits.
Vargas Alencastre affirmed that the tax authorities and the governments of each jurisdiction are working collaboratively to improve tax compliance and minimize the harmful effects of these phenomena.
“According to the World Economic Forum, by 2018 the United States loses approximately $188 billion US dollars a year, followed by China, which loses $66.8 billion US dollars.
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