Costa Rica Complies With OECD Requirements

After signing with Australia, the country will have the 12 tax treaties required by the Organization for Economic Cooperation and Development (OECD).

Friday, July 1, 2011

On 1 July, the country will have twelve agreements to exchange tax information after signing an agreement with Australia, which will take place in Mexico with the participation of Costa Rican ambassador.

A press release of the Ministry of Finance reads:

Our objective will be met after Wednesday when Costa Rica will sign in Paris seven agreements to exchange tax information with the countries forming the Nordic block: Denmark, Finland, Greenland, The Faroe Islands, Iceland, Norway and Sweden. The signing will take place at the Embassy of Finland in France, in the presence of the OECD and representing our country is the Costa Rican ambassador .

Through these agreements, Costa Rica may carry out an effective exchange of information with these countries regarding taxes that the Central Government collects and manages. It also serves as an instrument for the government, through which the Tax Administration can exercise more control and have a better oversight, because it provides information relevant to the determination, assessment and collection of taxes, including the charging, enforcement of tax credits and the investigation into or prosecution of alleged illegal tax activities.



More on this topic

Costa Rica Signs Tax Convention with OECD

March 2012

Adherence to the Multilateral Agreement involves sharing tax information with 23 countries, allowing advances to be made in international transparency policies and the fight against tax evasion.

A statement from the Finance Ministry reads:

COSTA RICA SIGNS INTERNATIONAL TAX COOPERATION CONVENTION WITH 23 COUNTRIES

France Removes Costa Rica from List of Tax Havens

February 2012

The French government has reported that Costa Rica will no longer appear in its list of states and territories who are non cooperative with regards to taxation.

A statement from the Presidency reads:

- Decision conducive to investment climate in the country.
- New information exchange agreements will be signed in the next few days

Costa Rica Taken Off List of Tax Havens

July 2011

After completing twelve agreements to exchange tax information with as many other countries, the OECD has announced that Costa Rica will be excluded from the gray list.

A press release from the Ministry of Finance reads:

COSTA RICA OUT OF THE LIST OF TAX HAVENS

• Bill Compliance Standard on Fiscal Transparency is essential for implementation of international agreements

Panama Complies with OECD Requirements

June 2011

After signing today a fiscal information convention with France, Panama has completed the 12 fiscal agreements required by the Organization for Economic Cooperation and Development (OECD) in order to exclude Panama from the list of tax havens.

A press release from the Ministry of Foreign Affairs of Panama states:

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