Costa Rica is not included in the list of the European Union’s non-cooperating jurisdictions, (tax havens) after an evaluation by the Code of Conduct Group of the European Union, which determined that Costa Rica complies with their evaluation criteria.
Seventeen states were included in the 2017 blacklist, including Panama, American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macao, Marshall Islands, Mongolia, Namibia, Palau, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and the United Arab Emirates.
Another 46 jurisdictions were included in the gray list, including Aruba, Andorra, Armenia, Belize, Cape Verde, Morocco, Qatar, Jordan, Liechtenstein, San Marino, Turkey, Serbia, Bosnia, Herzegovina, Vietnam, Saint Vincent and the Grenadines , Thailand, Taiwan, Hong Kong, Swaziland, Botswana, Peru, Uruguay, Jamaica, Bermuda, Cayman Islands, Sweden, the British Isles of Guernsey and New Caledonia.
The advances that Costa Rica has made for the exchange of tax information, to identify the final beneficiary and the countries commitment to the process of implementing the OECD BEPS strategy, are very important aspects that stand out at an international level. and that has paid off in the fight against tax evasion both inside and outside the country.
The European Union can sanction companies from member countries that invest in non-cooperating jurisdictions, and for this reason, not being on the list is an acknowledgment of the work Costa Rica has done on the issues that the European Union Code of Conduct Group evaluates.
The writer, Tom Rosenberger has lived and worked in Costa Rica since 1993 and from his extensive experience here, he has acquired a wealth of knowledge about living and doing business in Costa Rica. If you have questions and would like to contact Tom click here.