Costa Rican Tax Breaks for Investment Funds Repealed

On 18 June 2014, the Costa Rican government published a new law in the country's Official Gazette that repeals certain tax benefits granted to investment funds under section 100 of the Securities Market Regulatory Act. The benefits repealed include:

• The 5% final tax on investment funds' income from Costa Rican securities and other assets located in Costa Rica
• The 5% final tax on capital gains derived from the transfer of the investment funds' assets
• The tax exemption granted upon the purcha…