OrbitaxExemption from withholding tax on interest paid to approved foreign banks and financial institutions per central bank list
|Approved Changes| Costa Raca
According to Art. 59 of the Ley del Impuesto sobre la Renta (LIR), Costa Rican-source interest, commission fees and other financial expenses paid or credited to non-residents are subject to a 15% final withholding tax (tax on remittances) as applied on gross amounts.
However, amounts paid to foreign banks and financial institutions approved by the central bank are exempt.…
