The tax authorities announced that taxpayers that did not submit their sworn affidavits concerning the ultimate shareholders (ultimate beneficial owners) registry information by a certain date will be listed in a release published in the official gazette and in a national newspaper. Originally, the due date for making a disclosure was set for April 2020. However, a resolution (30 March 2020) revises the requirement and provides disclosures need to be filed in September of each year—not in April—starting with the disclosure for 2020.
The announcement is intended to provide notice to all non-compliant taxpayers of potential penalties to be imposed.
Legal entities incorporated between 1 January and 31 August 31 2020, will file their first disclosure by the standard deadline of September 2020.
Read an April 2020 report (Spanish and English) [PDF 74 KB] prepared by the KPMG member firm in Costa Rica
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