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Costa Rica: Reminder of requirements for ultimate shareholders registry

Costa Rica: Reminder of requirements

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.

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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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