At least $23 million state loss in tax collection scam

THE DAMAGE to the Panama state from a contract involving, a company hired to collect delinquent taxes is estimated at more than $23 million. The company Cobranzas del Istmo was paid commissions, but an audit found that it charged a higher rate of commission in some instances, and collected commissions to which it was not entitled in other cases.

It also said that it was not able to track all the payments, thus the number could be higher.
 A report prepared by the Internal Control Unit of the Ministry of Economy and Finance has estimated Cobranzas collected $47.1 million.
When asked about the report, Luis Cucalón, the former director of the General Revenue Department, has denied any wrongdoing he replied: “It makes no sense.”
He explained that the payments were endorsed by the comptroller, and were calculated by the agency’s Accounting Department. He also alleged that the report overestimated the amount paid to Cobranzas by $8 million, saying it only received $39 million.
Cucalón has been accused by Cobranzas officials of taking almost $6 million in kickbacks. The company apparently used a corporation based in the British Virgin Islands to mask the transactions.
He was questioned May 25 by anti-corruption prosecutor Ruth Morcillo. His answers were described as “elusive,” and he denied any responsibility for overcharges.
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