Costa Rica, México agree to avoid double tax

Costa Rica and México have signed agreements to prevent double taxation and to fight tax evasion, the Ministerio de Hacienda said Tuesday.

The agreement was signed in Washington. D.C.

The accord promoted the exchange of financial information  between the countries.

This is the third recent agreement of this type. In February the finance ministry officials signed an agreement with the Federal Republic of Germany. In 2004 Costa Rica entered into an agreement with Spain.

Officials here said they hoped this type of agreement would encourage investment from Mexicans who would no longer face the possibility of double taxation.

The agreement requires approval of the Asamblea Legislativa.

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