Moratorium on Shareholder RegistrationIn Costa Rica, the Legislative Assembly approved in first debate a bill to avoid fines for errors in the declaration of the shareholders' registry for two months.Tuesday, January 28, 2020
In its first debate, the file 21,758 Law of Moratorium for the Application of Sanctions corresponding to the ordinary declaration of the 2019 period, related to the transparency and final beneficiaries’ registry, provided for in the Law to Improve the Fight against Tax Fraud, was approved. The initiative gives an extension for shareholders of corporations to submit their lists, before applying sanctions, reported the Legislative Assembly. Source: Crhoy.com Costa Rica: Shareholder Registration Begins in SeptemberAugust 2019 As of September 1, approximately 370,000 legal entities will be required to comply with the Registry of Transparency and Final Beneficiaries, with the legal documents ending in 0 and 1 being the ones that must do so first. VAT in Costa Rica: No Fines or Sanctions until OctoberJuly 2019 The Legislative Assembly approved a moratorium of three non-extendable months, in sanctions, arrears, interests, fines or any other sanctioning disposition, related to the collection of the value added tax, which became effective last July 1. Costa Rica: Shareholder Registry ApprovedDecember 2016 With the legislative endorsement of the law against tax fraud the Ministry of Finance will be able to have access to the list of shareholders of corporations, and the people behind other legal entities. Shareholder Registry Revived in Costa RicaJune 2016 A bill approved in the Legislative Commission creates a register of shareholders to which the tax authority would have unrestricted access.
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