The Directorate General of Taxation has sent to consultation a resolution demanding that every society must report who their shareholders are. This measure, according to Carlos Vargas, chief of Taxation, aims to verify payment of transfer tax, in addition to meeting the standards of the Organization for Economic Cooperation and Development.

He added that " ... in the Law of Tax Management Strengthening the model of indirect transfer is created, under which a tax is levied on the transfer of real property in any business involving the transfer of a property. The only possible to manage this tax lies in having the information of the owners of the companies and the subsequent changes in ownership of social capital".

" ... Besides, Costa Rica is making a process of compliance with international standards of tax transparency, which also requires a record of this kind."

Source: Nacion.com

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