The Agreement with the Republic of Italy for the exchange of information on tax matters entered into force on June 17th.
The signing of this bilateral agreement took place in May 2016 and establishes the provisions through which the exchange of tax information between both jurisdictions will be regulated, while seeking to strengthen the international fight against tax evasion.
Experts and authorities believe that the ruling by the Guatemalan Constitutional Court revoking the suspension preventing access to taxpayers' bank information for fiscal purposes could be reversed with another legal action.
In recent days, the issue has become more relevant in the country, because after a year of being suspended access to banking information for tax purposes, on August 6 the Constitutional Court finally ruled, authorizing the Superintendence of Tax Administration (SAT) to review the accounts of taxpayers.
The tax reform law that would be approved in second debate in the coming weeks, involves the exoneration of arrears and penalties for taxpayers who pay their debts in the first three months after the publication of the law.
The proposed measure consists of exonerating 100% of the interest on arrears and up to 80% of the penalty to taxpayers who pay in the first month after the Law is published in the official newspaper La Gaceta.
In Panama, was approved a new law that extends the scope of the Special Free Port System for the province of Colon, through the exclusion of tax payments for the import of goods, both for domestic and non-domestic.
From the statement of the National Assembly:
In the third debate, the National Assembly approved the optimization of the Special Free Port System for the province of Colón (SEPLC) through the exclusion of tax payments for the import of goods, both for domestic and non-domestic.
In 4 out of 10 businesses inspected in the provinces of Puntarenas, Guanacaste, Heredia and Alajuela, the Ministry of Finance detected some degree of tax noncompliance.
According to authorities, in March of this year 51% of businesses in Guanacaste and 49% in Puntarenas had fiscal irregularities. During June in Guanacaste the proportion of errors rose to 53% and fell to 44% in Puntarenas.
In order to finance the 2015 budget, Congress has approved a tax of $0.65 for the distribution of each sack of cement weighing 42.5 kg and the same amount for each mobile or fixed telephone line.
Between the two taxes it is hoped that a total of approximately $2,607 million will be raised to finance the General Budget of the Nation in 2015.
In the case of taxes on mobiles and fixed telephone lines, "...
Discussion is being given to hiring an external company to provide consulting services in order to improve the management and collection of taxes.
The proposal which emerged from the leadership of former Finance Minister Pavel Centeno, is once again gaining strength at a time when the Tax Authority is analysing different alternatives to raising tax revenue.
The reforms include provision for a fine for non payment of partial income taxes, facilitation of tax refunds, and streamlining of tax collections on luxury homes.
The Legislature has approved the "Project for urgent reforms of the tax administration", the first of the proposals included in the tax reform promoted by the Chinchilla administration in the package entitled "Solidarity Tax Act."
Costa Rica’s Constitutional Chamber has ruled in favor of a Mexican company in litigation over a $26 million contract to digitize the taxation system.
In 2007 the Costa Rican Ministry of Finance hired the firm Bearing Point Mexico for the development and implementation of a platform called " Tributación Digital” for a total of $26 million. In May 2010 the Ministry of Finance terminated the project, for which the sum of $17.8 million had been paid.