The Costa Rica News (TCRN) – Costa Rica and Mexico have signed an agreement to prevent tax evasion, providing greater legal certainty to investors.

The Costa Rican Ministry of Finance said in a statement that the agreement will avoid double taxation and prevent fiscal evasion with respect to taxes on income, plus it will allow for more efficiency by eliminating the double taxation on investments.

“The signing of this agreement binds the achievements on the exchange of information on tax matters and the Free Trade Agreement, which denotes the constant strengthening of trade relations between the two countries,” said the Costa Rican Finance Minister, Edgar Ayales.

The signing between the two countries was held at the Embassy of Mexico in Washington, United States.

To come into force it will need to meet domestic legal procedures, including the approval by Legislature.

According to the authorities, this is the third such agreement signed by Costa Rica.

In 2011, one was established with Spain and Costa Rica and last February one was signed with Germany, which is pending legislative ratification. (ACAN-EFE)

The Costa Rica News (TCRN)

San Jose, Costa Rica