The Costa Rica News (TCRN) – Costa Rica and Germany signed an agreement to avoid double taxation, which provides greater legal security to investors.
The document was signed by the German ambassador in San Jose, Ernst Martens, and the Costa Rican Finance Minister, Edgar Ayales, who described the deal as “a milestone in the close international relations” between the two countries.
“It is hoped that the signing of this agreement promotes German investment in the country and combats tax evasion,” said Ayales in a statement.
The agreement, which must be approved by the Costa Rican Congress, avoids double taxation on income and wealth, which according to the Costa Rican government will strengthen legal certainty to investors.
This is the second agreement against double taxation signed by Costa Rica; in 2011 one was signed with Spain.
“The signing of agreements to avoid double taxation demonstrates the country’s commitment to meeting international standards of tax transparency and progress in international taxation,” the ministry said in the newsletter. (ACAN-EFE)
The Costa Rica News (TCRN)
San Jose Costa Rica