Tax treaties get initial approval

Lawmaker approved on first reading Monday seven tax agreements with as many foreign entities.

The agreements provide for the exchange of financial information to and from Costa Rica.

The countries are Iceland, Finland, the Faroe Islands, Denmark and Greenland, Sweden, and Norway.

The agreements are part of the country’s largest effort to prepare itself for membership in the Organisation for Economic Co-operation and Development, the international agency that once had Costa Rica on its black list for tax evasion.

The treaties also are consistent with Costa Rica’s effort to reduce bank secrecy here so its tax collectors can monitor accounts.

The tax treaties have to be voted on one more time, but there is no opposition

This entry was posted in Costa Rica News. Bookmark the permalink.