According to recent reports, the Costa Rican Congress has recently approved amendments to the withholding tax rules for interest payments abroad. The amendments adjust the withholding tax rates and repeals a withholding tax exemption for interest payments to non-domiciled banks and financial entities recognized by the Central Bank of Costa Rica.
Under the un-amended rules, interest payments remitted abroad are generally subject to a withholding tax of 15%. Under the new amended rules, withho…