Costa Rica: From OECD "Black List" to "Gray List"
For this to occur, it was enough to send a letter to the OECD, agreeing to adopt the international standard for the exchange of tax information.
Tuesday, April 7, 2009
Following the decision by the G20 to act against nations that fail to cooperate in the international exchange of tax information in their last meeting in London, Costa Rica had to act quickly to get out of the "black list" of countries that were not committed to adopting this standard. It was enough, like the other three countries in the same situation (Uruguay, Malaysia and Philippines), to send a document to the OECD adopting the commitment.
Costa Rica and Guatemala were upgraded to the "Gray List", whereas Panama remains listed as a "Tax Haven".
They are included in an OECD list of countries that have not implemented the international standard for exchanging tax information.
The country has not been able to pass the first filter set by the Global Forum on Fiscal Transparency.
In light of its inclusion in the list of countries who do not have sufficient "fiscal transparency", Panama has requested a supplemental report that includes all measures implemented in the area since May 2010.
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