No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeCosta RicaCosta Rica Taken Off EU Tax Haven Blacklist

Costa Rica Taken Off EU Tax Haven Blacklist

In positive economic news for Costa Rica, the European Union has removed our country from its list of tax havens. The EU’s updated blacklist, approved on Tuesday, now consists of 16 “non-cooperative” jurisdictions for tax purposes.

Costa Rica had previously been included on the EU’s list of tax havens since it was created in 2017. However, amendments recently made to Costa Rica’s foreign income exemption regime were enough to get us removed from the blacklist this time around. Specifically, changes were made to eliminate “the harmful aspects” of how foreign-sourced income was treated.

By taking steps to improve transparency and cooperation on tax matters, Costa Rica has managed to get itself back in the EU’s good graces. This is a major accomplishment that removes the stigma and potential sanctions that come with being labeled a tax haven.

However, the work is not over. Other countries in Central America and the Caribbean remain on the EU blacklist, including Panama, Barbados, and Trinidad and Tobago.

Moreover, humanitarian groups like Oxfam have criticized the EU’s list as being ineffective and arbitrary. Major economies like the United States and United Kingdom are not screened or included, even though they have tax rules that can enable evasion.

Costa Rica sets an example in the region for proactively addressing the EU’s concerns over tax rules. But more progress is still required, both locally and abroad, to clamp down on tax evasion by wealthy individuals and corporations. Tools like public registries of company ownership should be considered.

For now, Costa Rican officials will celebrate this EU decision as an endorsement of our commitment to transparency. It removes a potential barrier for European investment and cooperation as well. But vigilance is required to ensure we never again enable tax avoidance behavior. This EU decision gives Costa Rica added motivation to continue leading on tax fairness.

Trending Now

Empty Stands and Passionate Fans Mark Women’s Copa América 2025

“I didn’t see Pelé, but I saw Marta,” read a sign held by a small but loyal group of fans who followed the ten...

Costa Rica Detains Two in Killing of U.S. Citizen

The Judicial Investigation Agency (OIJ) has arrested two suspects in connection with the murder of American businessman Eshraghollah Vatani. Vatani was reported missing at...

Legal Battle Erupts Over Hutchison’s Panama Canal Port Concession

Panama’s president, José Raúl Mulino, said that he wants to negotiate a new concession contract with the Hong Kong–based Hutchison Holdings subsidiary to continue...

Costa Rica Battles Rising Cyberbanking Fraud and AI-Powered Scams

Cybercrime is a serious problem in Costa Rica. The number of victims is rapidly growing and so are the different techniques used by criminals...

Argentina Deep Sea Expedition Reveals Stunning Marine Life

A robot explores the dark, cold, deep sea floor of the South Atlantic, transmitting images of vibrant coral and fish never seen before as...

US Doubles Bounty to $50 Million on Venezuela’s Maduro

The Trump administration stepped up pressure on Venezuela's Nicolás Maduro today by offering a $50 million reward for tips that lead to his capture....
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica