Costa Rica: Banks Facing Tax Reform

In its comments on the bill on income tax and sales reforms currently under public consultation, a request has been made that financial institutions be subject to a system of global and not published income.

Tuesday, April 21, 2015

From a statement issued by the Costa Rican Banking Association (ABC):

ABC submitted their comments on the draft amendments to the income and sales taxes

The Association insists that amendments must be made to the Law on Income Tax, particularly in its application of proportionality to banks and global income. The entity supports the change in the tax system, in terms of migration to overall income and the establishment of value added tax (VAT).

The Costa Rican Banking Association (ABC), presented on Friday, with the Ministry of Finance, its comments to the public consultation on the draft amendments to the Law on Income Tax and Sales Tax Act.

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