NEW DEADLINE TO SUBMIT THE TRANSPERENCY AND FINAL BENEFICIARIES REGISTRY (“RTBF”)
Since COVID cases have been increasing rather than decreasing, Costa Rican Tax Administration decided to publish on April 29th, 2021 the resolution N˚DGT-ICD-R-17-2021 to extend the term to submit of the RTBF report until May 31st, 2021. Original deadline was by the end of April.
We would like to point out some information that remains unmodified for the submission of the RTBF:
Any Costa Rican corporation, regardless of their “active” or “inactive” condition before the Tax Administration, must submit the RTBF, the inactive condition does not grant an exception with respect to the RTFB obligation.
Private Trusts, including foreign trusts that carry out activities in Costa Rica, are included in the list of obligated parties, but they have time until June 2021 to file the RTBF.
The entire process must be done through a digital platform, and a Costa Rican digital signature (duly authorized and granted by the Costa Rican Central Bank) is required. Only Costa Rican Nationals or residents with DIMEX can obtain such a digital signature. A proxy can be granted to submit the RTBF.
The RTBF must include names and personal information of all shareholders and final beneficiaries that have direct or indirect control over the entity.
Fines for not submitting the RTBF correspond to two percent (2%) of the gross income of the legal person, with a minimum of three (3) base-salaries (approximately US$2,000). The Costa Rican National Registry will not register any documents and transactions nor issue certificates for corporations not compliant with the RTBF obligations.
To receive assistance for the preparation and submittance of the RTBF, please feel free to email us: firstname.lastname@example.org.
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