Bankers favor value-added and global taxes

The Costa Rican bankers association has come out in favor of a value-added tax and global taxation, but it wants a few changes.

Representatives of the organization, the Asociación Bancaria Costarricense, appeared at a hearing held by the Ministerio de Hacienda to comment on two proposals.

The bankers said they are not happy with the texts of the laws, which in some cases are ambiguous and contain errors and distortions.

In one case cited by the banking group, an article in one of the laws exonerates from taxes payments by international financial entities, but the category is not clear, the association said in a release.

The proposed laws have not yet been presented to the legislature, and what the ministry has now are drafts for public comment.

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