Pressure from the OECD and the Free Trade Zones

Given the commitment by Costa Rica to make its tax system more transparent, the private sector reiterated the need to change the rules for the Free Trade Zones.

Wednesday, April 8, 2009

Companies have requested for the Government to start a bill in the legislature to reform the free trade zone rules. This reform would allow companies operating under the free trade zone scheme to meet the requirements of the World Trade Organization (OMC).

La Prensa Libre of Costa Rica published: "According to Juan María González, president of the Chamber of Industries of Costa Rica, the planning process of new investments by international companies requires a long time, therefore, a legal framework is essential to ensure the conditions of investment in the long term, both to maintain as well as expand operations already in the country and to stimulate new investment."

More on this topic

Guatemala: Incentives for Free Zones Expire

January 2015

The business sector is demanding that the government take action to minimize the impact of the expiry at the end of the year of tax incentives granted to foreign firms in free zones.

About 1,300 companies enjoy the benefits granted by the World Trade Organization, which expire on December 31 this year. Two companies have already moved their operations to other countries, according to the Ministry of Economy of Guatemala.

Treasury Casts Eyes on Free Zones

September 2014

Investors are on the alert over possible modification to the Law on Free Zones while analysts are warning that this would generate legal uncertainty.

The government will be revising the law on free zones in order to avoid companies who are not operating under the regime from moving into it and avoiding paying taxes.

Balance of Free Zones in Costa Rica

October 2011

The Foreign Trade Promoter has revealed in a study the benefits that free trade zones contribute to the country, including the 58 thousand jobs that pay 60% above the average private sector salary.

From a press release by PROCOMER:

A study by PROCOMER reveals the benefits of free zones in Costa Rica:

Problems Ahead for Costa Rica Free Port Law

July 2009

Three points exist that could complicate the approval of the Free Port law in the Costa Rican Congress.

Politicization of the benefited companies, creation of a fiscal paradise and transferring the favorable impact of investment to less developed areas are points doubted by several congressmen.

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