AP Interview: Paraguay's new president wants taxes

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Posted: Thursday, September 19, 2013 12:00 am

ASUNCION, Paraguay (AP) - As one of the richest men in one of Latin America's poorest countries, Paraguay's new president says he knows the wealthy can do more to combat poverty, starting with landowners like him who can afford to pay taxes on the soy profits that are fueling a booming economy.

In a wide-ranging Associated Press interview on Wednesday, President Horacio Cartes condemned tax evaders, said he'll require corporate partners to fund Paraguay's social development and took credit for the country's first tax on commodities. The new 10 percent tax on soy, corn, wheat and sunflower profits is expected to generate $300 million a year by 2015.

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