Costa Rica still on blacklist of tax havens

February 12, 2010

Costa Rica remains on the list of tax havens published by the Organization for Economic Cooperation and Development (OECD), according to documents seen by the wire service AFP on Monday.

The Central American country of 4.5 million people had signed an agreement in July saying it would take steps to ensure free exchange of financial information. But while Costa Rican officials made strides toward complying with the OECD, the country has failed to pass legislation in congress.

In December, Finance Minister Jenny Philips said, “We are continuing trying to comply with the OECD, but we can´t commit to legislators passing (appropriate legislation.).”

She said her ministry is looking to reduce the time it takes for judges to review and authorize the release of financial information of suspected tax evaders, but that she needs more time.

“The French government has taken a very tough, very strong position,” Philips said at the December press conference. “But at the moment France decides to pressure, other countries have to unite and say, ‘Wait a minute.´”

According to various news sources, the French government will begin imposing fines of as much as 50 percent – up from 33 percent – on dividends and interest fees paid by French firms to people or other firms domiciled in tax havens.

As of press time, the OECD had yet to make the updated tax haven list public.

Facebook Comments

You may be interested

Lifeguards call for help in Costa Rica: support their work in Osa
Changemakers
810 views
Changemakers
810 views

Lifeguards call for help in Costa Rica: support their work in Osa

Perry Gladstone - October 20, 2018

Over the last four years, the Lifeguards of Costa Ballena have performed 240 in-water rescues, administered first aid 100 times…

Costa Rica Rocks: An evening of progressive metal at Jazz Café
Arts and Culture
434 views
Arts and Culture
434 views

Costa Rica Rocks: An evening of progressive metal at Jazz Café

Eduardo Doryan - October 20, 2018

So there I was, at the fabled Melico Salazar Theater, about to experience the pleasure of seeing the Costa Rican…

PeaceJam to host first Youth Summit in Costa Rica
Peace Talks
788 views
Peace Talks
788 views

PeaceJam to host first Youth Summit in Costa Rica

Alejandro Zúñiga - October 19, 2018

Nobel Peace Laureate Jody Williams will headline the first PeaceJam Youth Summit in Costa Rica next month. The event, scheduled…