Costa Rica and the United States signed an agreement to exchange tax information and for mutual assistance between both countries, this with the purpose of attending to the transparency standard established by the OECD (Organization for Economic Cooperation and Development).

President of Costa Rica Luis Guillermo Solis and Sharon Day, US Ambassador to Costa Rica, signed the agreement that now must be ratified by the Legislative Assembly.

Both countries commit to assisting each other in the exchange of information with the purpose of determining, liquidating and collecting taxes, as well as charging and executing tax claims. All these information will be treated confidentially between both countries.

The renegotiation of this agreement, which was initially signed in 1989 and enforced since 1991, initiated in September of 2014 and finally concluded the first trimester of 2018.

“The signing of this new Agreement of Exchange of Tax Information with the United States represents another step in the search for more fiscal transparency, one of the most important objectives of the country for some years. This new agreement shows the commitment of the country in having an effective exchange of information according to the standards of the Global Forum of Transparency and Exchange of Information of the OECD for tax purposes. I want to thank all collaborators that participated in the process of negotiation and signing, whose efforts are reflected in the satisfactory conclusion of this agreement”, commented Leonardo Salas, Minister of Treasury ad interim.

Costa Rica currently maintains agreements of exchange of tax information with many countries, among them Argentina, Canada, Finland, France, Mexico, Norway, Honduras, Nicaragua, Ecuador, Denmark, Australia, among others.