It has been a year and a half since the Registry of Transparency and Final Beneficiaries (RTFB) was enforced as a mandatory requirement for corporations in Costa Rica.
A lot of water has flowed under the bridge since then, especially when it comes to people trying
Registry of Transparency and Final Beneficiaries, better known in Spanish as “Registro de Transparencia y Beneficiarios Finales” (RTFS or RTBF).
According to the government, the Transparency and Final Beneficiary Registration deadline has been extended.
The process is a new corporate obligation that entered into effect on September
Companies have different types of books depending on what kind of company or corporation it is, and each kind of book is identified with a unique legalization number. In the Costa Rican market, the most important types of companies are:
A. Corporations with issued shares whose books
A moratorium on sanctions has been established for a maximum non-extendable term of 3 months in the
case of those failing to file the 2019 Registry for Final Shareholder Beneficiary as set out in the Joint
Resolution of General Supplement for the Regulations on the Registry for Final Shareholder Beneficiary.
As many of you know, the Costa Rican government has a big debt problem and is in the process to increase the revenue through numerous means, one of the them is to improve the income tax on corporations and people.
In addition, the country is attempting
The Ministerio de Hacienda (Treasury Department), along with the BCCR (Central Bank) and the ICD (Institute for Controlled Substances) issued a notice on February 22. The notice states the following: “with the objective of facilitating the fulfillment of the obligation that companies have to provide
Starting on January 1st, 2019, it is required for corporations to report with the Revenue Service (Ministerio de Hacienda) a list of shareholders who have more than 15% of the shares of the company. The report must be provided between March 1st and December 31st