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Intel says new Costa Rican tax law is a threat

Wednesday, October 12, 2011

Costa's Rica's consideration of a plan to tax foreign-owned companies operating in free-trade zones may threaten overseas investment there, said Intel Costa Rica's general manager.

Potential taxation of free-trade zone businesses is part of a tax overhaul presented to the Legislative Assembly on Sept. 27.

Intel has invested since 1997 in Costa Rica where it is the largest revenue-earning company in the $35 billion economy. But it decided against a large investment in Costa Rica last year due to “uncertain fiscal policies.”

Original source: Bloomberg