France excludes Costa Rica from tax-havenlist

New agreements on the exchange of information will be signed in coming days

Costa Rica’s Finance Minister Fernando Herrero announced this week that the country was excluded from a list of tax havens drawn up by France in early 2010.

According to a note signed by French Ambassador to Costa Rica Fabrice Delloye, “Costa Rica no longer appears on the French list of uncooperative states and territories on tax matters,” which is a big step for government efforts to achieve international standards in tax transparency.

“That France excluded us from its list of uncooperative nations is great news, because in addition to attracting French investors to the country, it increases investment security and confirms our interest in adjusting to international tax requirements, which we have demonstrated with the signing of treaties of tax-information exchange with different countries,” the minister said.

To date, Costa Rica has signed 12 agreements to exchange tax information with Argentina, France, Holland, Mexico, Australia, Denmark, Finland, Greenland, Iceland, Faroe Islands, Norway and Sweden. The government expects that number to increase in coming days, Herrero said.