Costa Rica’s tax administration (DGT) has published a draft resolution for public consultation on 4 March 2025. The resolution outlines selection criteria and risk factors for reviewing financial account reports under the Common Reporting Standard (CRS) for 2025.
The draft resolution outlines criteria for identifying financial institutions for oversight, focusing on those with high account numbers, reporting inconsistencies detected by foreign tax authorities, or non-compliance with due diligence. It also includes explanations of supervisory actions that may be triggered by late or inaccurate reporting, improper record-keeping, or significant fluctuations in accounts. The criteria will be reviewed annually to address evolving compliance challenges and align with international regulations.
The deadline for submitting comments is 18 March 2025.
