The resolution clarifies that while taxpayers must maintain financial records according to IFRS adopted by the Costa Rican Public Accountants Association, tax regulations prevail when conflicts arise between accounting and tax standards.
Costa Rica’s General Directorate of Taxation (DGT) published Resolution MH-DGT-RES-0015-2026 of 8 April 2026 in the Official Gazette on 29 April 2026, establishing updated interpretive criteria for applying International Financial Reporting Standards (IFRS) within the country’s tax framework.
The resolution clarifies that while taxpayers must maintain financial records according to IFRS adopted by the Costa Rican Public Accountants Association, tax regulations prevail when conflicts arise between accounting and tax standards. This principle is enshrined in Article 128 of the Tax Code, which mandates that companies follow regulatory principles or, alternatively, IFRS standards—provided they don’t contradict tax laws.
Article 51 of the Income Tax Law requires taxpayers to maintain proper accounting records and create tax reconciliation balances based on IAS-12 or Section 29 of IFRS for Small and Medium Entities, depending on company classification.
Costa Rica’s Public Accountants Association fully adopted IFRS on 31 August 2001, ratified through multiple circulars, including Circular 06-2022-R from June 2022. The association also adopted IFRS for Small and Medium Entities in August 2018 through Circular 21-2018.
This update replaces Resolution DGT-RES-029-2018 from 15 June 2018, providing legal certainty to taxpayers while harmonising legal provisions with international accounting standards where permitted.
