Bill 24.811, presented by the Executive Branch, seeks to establish the obligation for cryptoasset service providers in Costa Rica to report information to the Tax Administration. This measure responds to the guidelines of the OECD's Cryptoassets Reporting Framework (CARF), which promotes the automatic exchange of information between countries to combat tax evasion, money laundering and other illicit activities related to cryptocurrencies.
The project identifies Costa Rica as a relevant jurisdiction in this sector, noting that at least one company, SLEX Crypto Exchange, already operates in the country. It also highlights that the opacity of crypto-asset transactions, the ease of transferring funds across borders and the volatility of the market make it difficult to apply fiscal rules and tax control. However, the regulation does not specify the exact information to be reported by the providers, leaving this definition to the General Directorate of Taxation, which must establish the obligated parties and procedures through a general resolution.
The bill also allows the Tax Administration to exchange information obtained with other jurisdictions with which Costa Rica has tax cooperation agreements. To ensure compliance, a penalty regime is proposed that imposes a fine of 2% of the offender's gross income for the previous year, with a minimum of three and a maximum of 100 base salaries.
The government has committed to implement the CARF before 2028, so, in case of approval, it will have one year to regulate the law and define the specific reporting procedures. The bill has the signatures of President Rodrigo Chaves and Finance Minister Nogui Acosta, and will be assigned to a legislative committee for processing and discussion.
Sources: www.hacienda.go.cr ICS. La Gaceta.