Lawmakers OK tax treaties with Australia and Canada

The legislature has approved tax information exchange with Australia and with Canada.

Both measures were approved with little opposition, and both will be sent for a review to the Sala IV constitutional court before a second and final vote is taken. The high court is likely to approve the bills.

Jeannette Ruiz Delgado is head of the legislature’s Comisión de Relaciones Internacionales which studied the measures and sent them to the full Asamblea Legislativa. She said that the information exchange with the two countries was important because Costa Rica is on the verge of passing its own tax plan that provides for levies on foreign income.

Costa Ricans will be subject to a tax when money from abroad comes into the country, according to the text of the tax plan, which received its first approval Wednesday night.

Costa Rican tax authorities also are anxious to see exactly what the country’s citizens have abroad.

Lawmakers also said that passage of these measures would counter the country’s reputation as a tax haven.

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