Costa Rica and Italy can exchange information on taxes

The goal of this agreement is to fight against international tax evasion. / A.M. Costa Rica wire services photo.

Costa Rica and Italy can exchange information on taxes

By the A.M. Costa Rica staff

The Ministry of Finance announced that the agreement for the exchange of information on taxes between the country and Italy is already in force.

According to the Ministry, the goal of this agreement is to fight against international tax evasion. In addition to improving cooperation between both countries.

The agreement was ratified when it was published in the government newspaper, known as the Gazette.

"Most of the agreements of this type signed by Costa Rica follow the Model Agreement on the Exchange of Information on Tax Matters proposed by the Organization for Economic Co-operation and Development OECD," said the Ministry in its statement.

Costa Rica has signed 20 bilateral tax information exchange agreements, of which 15 are in force, three still in the process of exchanging notes and 2 in the process of legislative ratification.

The countries with operating agreement on tax information exchange are Argentina, Australia, Canada, South Korea, Denmark, Ecuador, United States of America, Finland, France, Greenland, Mexico, Norway, Nederlands, South Africa, Guernsey, Iceland, Faroe Islands, and now Italy.

Also, Costa Rica is part of the Multilateral Convention on Mutual Administrative Assistance in Fiscal Matters of the OECD. This gives the authorization to the Government to exchange information between the countries that are also subscribed.

According to the Ministry, there are 129 countries subscribed to OECD multilateral convention.

More information on the countries that are subscribed to the convention can be reached at the OECD site here.*

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With what other countries should the government agree to exchange information to control tax evasion? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com

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