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Costa Rica aims to impose 30 percent investment tax

Tuesday, January 22, 2013

The president of Costa Rica, Laura Chinchilla, has proposed a law to increase tax on capital inflows.

The increase would be of up to 30 percent, from the current 8 percent, although the exact amount would depend on the amount of the investment, yield and maturity.

European bonds would be exempt from the new law, according to Finance Minister Edgar Ayala. Costa Rica plans to emit $4 billion in Eurobonds over the next 10 years.

Full story (in Spanish)