International cooperation in tax matters continues to gain relevance for Costa Rican companies and taxpayers. Over the past few years, Costa Rica has strengthened its participation in tax information exchange mechanisms promoted by international organizations, allowing for greater collaboration between tax administrations in detecting non-compliance and verifying cross-border transactions.
These mechanisms facilitate access to financial and corporate information from other jurisdictions, which increases the oversight capacity of international structures, foreign investments, and related-party transactions.
The trend responds to international tax transparency standards that aim to combat tax evasion and strengthen the integrity of tax systems. In this context, it is increasingly important for companies to maintain adequate documentation and consistency between the information reported in different jurisdictions.
The exchange of information continues to consolidate as one of the main tax control tools globally and an aspect that taxpayers must consider within their tax compliance strategy.
This has been a news service prepared by ICS. For more information about the report, write to info@ics.cr or call 2519-9992. ICS, tax specialists.