LatinNews Daily - 15 September 2023

In brief: Chaves partially vetoes bill to remove Costa Rica from EU grey list

* Costa Rica’s President Rodrigo Chaves has partially vetoed a legislative bill which was presented last month to the country’s 57-member unicameral legislature by a legislative committee which seeks to obtain the removal of Costa Rica from the European Union (EU)’s list of non-cooperative jurisdictions for tax purposes. In February Costa Rica was added to the list, which also includes Panama in Central America, for not having fulfilled its “commitment to abolish or amend the harmful aspects of its foreign source income exemption regime.” President Chaves was cited by the local media yesterday as saying that he was partially vetoing it as the State would stand to lose ₡36bn (US$67.8m) in national tax take, to benefit the wealthy. Finance Minister Nogui Acosta was also cited as saying that the reform would weaken the national tax system through restricting the tax on profits to revenue exclusively in national territory.

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