Bill Could Modify Bank Secrecy in Costa Rica
If the project is successful, fiscal authorities will have access to taxpayer’s bank account information.
Wednesday, November 17, 2010
"This is the proposed Law for the Enforcement of Fiscal Transparency Standards, which was yesterday approved by majority at the Committee on Financial Affairs," reported Nacion.com.
The new head of the Superintendency of Banks intends to resume the discussion in Congress of a bill which would regulate banking secrecy in the country by way of tax audits.
The agreement includes the exchange of information on request, automatic exchange, simultaneous tax examinations and assistance in the collection of tax debts.
The urgency to pass the tax reform, among other things, has taken center stage in the government's agenda of issues.
The country could face economic sanctions if congress fails to approve new laws in its next two sessions.
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