Tax Data: Agreement Between Costa Rica and the U.S.A.Tuesday, August 25, 2020 In order to update the Intergovernmental Agreement for the Effectiveness of the Tax Compliance Law on Foreign Accounts, signed by both parties in 2013, the governments of both countries signed a complementary agreement to FATCA. According to the Ministry of Finance of Costa Rica, with the subscription of the complementary agreement, the legal basis of the FATCA (Foreign Account Tax Compliance Act) will be updated with the provisions of the Agreement with the Government of the United States of America for the exchange of information on tax matters, which will enter into force next September. Soft Drinks: Extension for Tax PaymentThursday, January 9, 2020 Until January 13, 2020, the Sworn Declaration of Liquidation of the Selective Consumption Tax on Soft Drinks may be presented in Panama, corresponding to November 2019. Law 114 dated November 18, 2019, which entered into force on November 19, 2019, establishes a new rate for the Selective Excise Tax on Soft Drinks, which is why the e-Tax 2.0 system was modified. Tax Amnesty to Reactivate the EconomyTuesday, February 16, 2021 In order to reactivate the Panamanian economy that has been damaged by the outbreak of covid-19, the Ministry of Economy and Finance will present to the National Assembly a bill to extend the tax amnesty and approve new tax relief measures. The Cabinet Council, led by President Laurentino Cortizo Cohen, authorized, today, the Minister of Economy and Finance, Hector Alexander to present to the National Assembly, the bill extending the tax amnesty, as well as new tax relief measures with a view to reactivate the national economy, explains an official document. |
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