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Costa Rica Joins Panama and is Removed from French List of Tax Havens

Article Summary:

The Government of Costa Rica announced it was excluded from the French list of tax havens, which was seen as a major step that will enhance the investment climate in the Central American country.

Photo Credit: PrensaLibre

Original Article Text From PrensaLibre via Google Translate :

Costa Rica Comes From French List Of Tax Havens

The Costa Rican minister of finance, Fernando Herrero, said in a statement it received notification of the departure from Costa Rica that record through the French Embassy in San Jose.

“Costa Rica no longer appear in the French list of uncooperative states and territories in fiscal matters,” said France’s letter, dated Feb. 24 and signed by Ambassador Fabrice Delloye, said the official.

For Minister Smith, the decision of Paris “is a major step in government efforts (Costa Rica) to achieve international standards in tax transparency.”

The exclusion of the French list not only “increases the investment security” in the Central American country, but also “reaffirms” the interest of Costa Rica to conform “to the international tax requirements,” said the minister.

This interest has been shown, Smith added, “With the signing of the treaties of tax information exchange with different countries.”

So far, Costa Rica has signed tax information exchange with Argentina, France, Holland, Mexico, Australia, Denmark, Finland, Greenland, Iceland, Faroe Islands, Norway and Sweden, according to official data.

Spokesmen for the Ministry of Finance said Tuesday Efe that “in the coming days” provides for the signing of other agreements such tax without specifying with which countries.

The Organization for Economic Cooperation and Development (OECD), also ruled last year to Costa Rica from its list of countries not cooperating in the exchange of tax information and included it among the nations that have substantially implemented international standards fiscal transparency.

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From Prensa Libre

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