Costa Rica has become the first country in Central America to ratify the Convention on Mutual Administrative Assistance in Tax Matters, the multilateral agreement set up to boost tax cooperation and exchange of information, and the fight against tax evasion. It will enter into force in Costa Rica on August 1 2013.
The administrative assistance enabled under the convention includes information exchange on request, automatic exchange, simultaneous tax examinations and assistance in the collection of tax debts.
The convention has 44 signatories, including Brazil, Russia, India, South Africa, 18 EU member states and the US.
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