More Fiscal Control Over Large Taxpayers

New guidelines from the Costa Rican Treasury Office will allow greater access to the most relevant data of companies who paid more than $500,000 in taxes in the past three years.

Wednesday, November 6, 2013

Large taxpayers now have the obligation to submit to the Directorate General of Taxation information on their financial status in unconsolidated digital format.

This measure is intended to increase oversight of the most important data of 500 companies which account for about 70% of the country's tax revenue. The Treasury defines major contributors to the company as those who paid more than $500,000 for taxes in the last three fiscal years.

Two years ago companies presented their documents on paper, " ... but only on the balance sheet and the income statement . Now documents must be submitted in digital form and have attached a statement of changes in equity, cash flow statement, the explanatory notes on significant accounting policies and other explanatory annexes ", reported

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