Global forum on transparency and exchange of information for tax purposes : Costa Rica 2019 (second round) : peer review report on the exchange of information on request

This report contains the 2019 Peer Review Report on the Exchange of Information on Request of Costa Rica. Table of contents Reader’s guide Abbreviations and acronyms Executive summary Overview of Costa Rica Part A: Availability of information A.1. Legal and beneficial ownership and identity information A.2. Accounting records A.3. Banking information Part B: Access to information B.1. Competent authority’s ability to obtain and provide information B.2. Notification requirements, rights and safeguards Part C: Exchanging information C.1. Exchange of information mechanisms C.2. Exchange of information mechanisms with all relevant partners C.3. Confidentiality C.4. Rights and safeguards of taxpayers and third parties C.5. Requesting and providing information in an effective manner Annex 1: List of in-text recommendations Annex 2: List of Costa Rica’s EOI mechanisms Annex 3: Methodology for the review Annex 4: Costa Rica’s response to the review report This second round report analyses the implementation by Costa Rica of the standard of transparency and exchange of information on request for tax purposes against the 2016 Terms of Reference. It includes an assessment of its legal framework, as well as its operation in practice as concerns the handling of EOI requests received during the period of 1 April 2015 to 31 March 2018. This second round report concludes that Costa Rica is rated Largely Compliant overall. In 2015, the Global Forum similarly evaluated Costa Rica against the 2010 Terms of Reference and assigned an overall rating of Partially Compliant; as the result of a Fast-Track review in 2017, Costa Rica received a provisional upgraded rating of Largely Compliant. This report is reflecting the legal and regulatory framework as at May 2019