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Costa Rica opens 120 inquiries into Panama Papers

Thursday, March 23, 2017

Companies and individuals engaged in legal, real estate, agricultural, commercial and advisory services and consultancies are among the first 120 to be investigated by the Costa Rican tax administration, said the Finance ministry.

The names were identified in a publicly searchable database released last April during the Panama Papers scandal by the International Consortium of Investigative Journalists to publicize various types of fraudulent financial activities by a significant number of companies worldwide.

The Costa Rican ministry said in a press conference that 79 companies and 41 individuals in Costa Rica are currently under investigation by the country’s tax agency in what is being called the first stage of this process.

Source: Costa Rica Star