Costa Rica is in the process of becoming part of the Organization for Economic Co-operation and Development (OECD); one of the most important aspects of the process is adapting local regulations to comply with the OECD commitments.

Recently, the Ministry of Finance published resolution DGT-R-001-2018, which addresses the disclosure of tax information by companies in Costa Rica, for purposes of the Country-by-Country report (CbC report). The resolution was published in the official newspaper in February, 2018.

The resolution states that the parent company of a multinational group resident in Costa Rica or a resident entity of the group, specifically appointed by the multinational group with consolidated group revenue of the equivalent of EUR750m in the Costa Rican currency - presently CRC529.3m (USD924.7m) - must comply with the obligation to file a country-by-country report in line with the rules set out in the resolution. An initial report must be filed by December 31st, 2018.

Additionally, companies that are part of a group or multinational group must notify before the last business day of the current month, to the Tax Authorities, whether the CbC report will be submitted in Costa Rica or in another jurisdiction.