• Costa Rica Coffee Guide

Costa Rican lawmakers approve two of three fiscal reform bills on first vote

July 31, 2012

Lawmakers on Monday night approved in a first round of debates two bills to help ease Costa Rica’s fiscal woes. The two bills, which aim to increase fiscal transparency and strengthen tax management, are part of a reform package of three bills that are an alternative to President Laura Chinchilla’s failed fiscal plan.

If passed in a second round of voting and signed into law by the president, the Fiscal Transparency Bill would allow authorities to lift banking secrecy for individual account holders and businesses if authorities suspect tax evasion or money laundering.

The Strengthening Tax Management Bill seeks an amendment to the Tax Code to streamline customs procedures and improve collection processes from private companies.

A third piece of legislation, known as the Euro Bonds Bill, would allow the executive branch to accrue up to $4 billion in bond debt to curb rising interest rates, mostly for personal loans.

Lawmakers could vote on that bill Tuesday afternoon, as it is first on the legislative agenda for today’s session.

You may be interested

PAHO urges countries not to require coronavirus tests from travelers
Latin America
1527 views
Latin America
1527 views

PAHO urges countries not to require coronavirus tests from travelers

AFP - November 27, 2020

The Pan American Health Organization (PAHO) urged countries not to require coronavirus tests from travelers, saying they give a "false…

Eta and Iota left 200 dead, millions in financial losses across Central America
Costa Rica
72 views
Costa Rica
72 views

Eta and Iota left 200 dead, millions in financial losses across Central America

AFP - November 27, 2020

Hurricanes Eta and Iota, which hit Central America this month, left at least 200 confirmed dead and as many missing,…

Costa Rica offering all-expenses-paid vacations: How to enter
Costa Rica
16 views
Costa Rica
16 views

Costa Rica offering all-expenses-paid vacations: How to enter

Alejandro Zúñiga - November 26, 2020

Costa Rica is offering all-expenses-paid vacations for U.S. and Canadian residents who have found life’s essentials during what has been…