Fiscal Transparency Law in Costa Rica

The new standard adds control instruments and powers for the Ministry of Finance, regulating the lifting of banking secrecy by court order.

Tuesday, July 31, 2012

The new plan also proposes agreements to exchange tax information between the country and other nations, with the government aiming to removing Costa Rica from the gray list of the Organization for Economic Cooperation and Development (OECD).

"The government has been committed since April 2009 to comply with OECD standards for removal from the gray list", reported

The plan has been sent for consultation to the Supreme Court, said the president of the Legislative Assembly, Victor Granados.

More on this topic


September 2012

In Panama debates are firing up about the requirements for tax information exchange in what The Economist calls the "club of rich countries."

With the statement that "Panama is going through a tax revolution, with a direct impact on the competitiveness of the country", an article in reviews the concepts contributed by authorities and experts to the forum on the OECD's global project, organized by Chamber of Commerce, Industries and Agriculture of Panama (CCIAP).

Costa Rica: Fiscal Transparency "Half Finished"

November 2015

The OECD has given an overall grade of "largely fulfilled" but noted that there is no consolidated record to document all of the trusts created and the funds managed using this process.

From a statement issued by the Ministry of Finance in Costa Rica:

"Partially met" is the description given by the Organization for Economic Cooperation and Development (OECD) of work undertaken by the country to meet international standards set by the Organization on transparency and exchange of tax information.

Is Two Years Long Enough to Apply for OECD?

June 2013

Straddling two administrations, Costa Rica has a huge task ahead of it in terms of institutional adjustments, taxes and regulations, in order to be a candidate for membership in 2015. reports that Costa Rica "is being forced to take on a series of standards and policies of the highest level that the Organization for Economic Cooperation and Development (OECD) requires its members".

Panama Could Go Back to OECD Gray List

March 2014

The Minister of Finance announced that the country did not pass the first stage of the review by the OECD because it has not implemented a law immobilizing bearer shares.

An assessment of tax transparency and exchange of information that would have been made by the Global Forum Organization for the OECD will prevent the country from being removed from the list of tax havens.

 close (x)

Receive more news about Taxes

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones

Costa Rica -Development Prop. $850,000

70ac Profitable Coffee Farm, Investment Development ready with paved roads, water, power. 20 titled lots and room for more – coffee estates, tourism, camp.
Private yet convenient, ocean views, waterfalls,...

Stock Indexes

(Feb 11)
Dow Jones
S&P 500


(Feb 12)
Brent Crude Oil
Coffee "C"