October 26, 2021
Costa Rica´s Economic Affairs Commission of the Legislative Assembly approves reform of General Customs Law
The bill would change the customs law, including modifying the provisions aimed at preventing smuggling, establishing new rules for deferred payments, and modifying the procedural rules for imports. Taxpayers should continue to monitor the progress of this bill through the Legislative Assembly.
On 19 October 2021, Costa Rica’s Economic Affairs Commission of the Legislative Assembly approved a bill that would reform the General Customs Law.
The bill would modify the provisions aimed at preventing smuggling, as well as the provisions on fines. It also would establish new rules for deferred payments and incorporate “authorized economic operator” into the General Customs Law. Additionally, the bill would make procedural changes for imports and expand customs tax fraud to include smuggling.
For additional information with respect to this Alert, please contact the following:
Ernst & Young, S.A., San José, Costa Rica
Ernst & Young LLP (United States), Latin American Business Center, New York
Ernst & Young Abogados, Latin America Business Center, Madrid
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific