Costa Rica: Register of Shareholders Will Have to be Submitted

The First Chamber has dismissed a motion by the Chamber of Industries, and the Taxation department will be able to require large taxpayers to present information deemed sensitive in the AMPO system.

Monday, August 7, 2017

From a statement issued by the Ministry of Finance:

First Chamber confirms the power of Taxation to request information through the AMPO

It was concluded that sufficient legislation exists that authorizes the Administration to create a "Central Register of Shareholders".

August 7, 2017. - The First Chamber dismissed the complaint filed by the Chamber of Industry of Costa Rica against the State to annul Article 8 of the Regulation entitled "Programmed and Objective Multifunctional Analysis Tool" (AMPO), which allows requests to be made for tax information from large national companies.

As indicated by the Chamber, the Tax Administration is legally able to issue general resolutions in order to request information for tax purposes, and may issue general rules for the effects of the correct application of tax laws, within the limits set by the legal provisions and regulatory requirements.

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Costa Rica: Shareholder Register Will Be Mandatory

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An appeal by the private sector has been rejected and the Treasury will be able to require large taxpayers to be included in the AMPO system which contains information deemed sensitive.

From a statement issued by the Ministry of Finance:

The Ministry of Justice has finally decided in favor of the Tax Administration, in the process that the Chamber of Food Industry and several coadjuvants filed against the Scheduled Analysis Multifunctional and Target tool (AMPO).