After the Legislative Assembly ratified the country's accession to the Organization for Economic Cooperation and Development, the business sector is of the opinion that this will help consolidate the institutional reforms needed to make the State more efficient.
The Assembly informed that by approving in the second debate the bill 22.187, which contains the agreement on the terms of accession, the deputies gave the green light to Costa Rica's accession to the Organization for Economic Cooperation and Development (OECD).
The Executive presented before the Legislative Assembly the draft law of the loan contract with the Central American Bank for Economic Integration, which will be used for the construction of the Passenger Electric Train of the Great Metropolitan Area.
The Costa Rican Congress decided not to approve a $500 million loan that the state run power company wants to take out with the IDB to finance geothermal power generation projects in the country.
The deputies argued that they were not clear about the financial situation of the Instituto Costarricense de Electricidad (ICE), which would receive the loan, for which the State would act as guarantor.The decision to halt the loan approval comes two days after President Solis announced he is facing a liquidity crisis.
The Congress of Costa Rica has been inspired by the famous tango Cambalache and now those who "work day and night like an ox are the same as those who live off other people, those who kill are the same as those who cure, or those who live outside the law..."
EDITORIAL
The Costa Rican Legislative Assembly has given final approval to a bill that clears the records of crimes committed by people after they have served their sentences. Until now, criminal records have only been "cleaned" after 10 years have passed since the sentence was carried out.
In Costa Rica the majority of MPs are opposed to the bill which would give the Treasury the ability to penalize delinquent taxpayers, a measure considered unique to the judiciary.
The Government will have to amend the draft law to improve the fight against tax fraud if it wants the Legislature to approve it. The opposition is mainly relted to the fact that the project would grant the ability to make charges and put in place embargoes without a court order, and there are also "... objections to tax advisers being made to pay part of the taxpayers debts, if the Administration considers that they gave the wrong advice."
The Legislature has approved the bill which will allow compliance with the FATCA law by establishing the automatic exchange of information on taxpayers with the United States.
From a statement issued by the Ministry of Finance in Costa Rica:
Deputies last night approved Draft Law No. 18,966 which will allow for compliance with the FATCA Act of the United States, by establishing the automatic exchange of information with that country.
The Legislature has approved a special budget for road renovation works, road widening, construction of overpasses and breakwater at berths.
From a statement issued by the Legislative Assembly of Costa Rica:
With 44 votes in favor lawmakers approved on its second reading record 19464, modification No. 9289, Act RB extraordinary Republic Act for fiscal year 2015 and the first special budget of the Republic for the fiscal year 2015.
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