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, withholding tax rates will apply as follows on interest, commissions, and other financial expenses payments: When paid to non-domiciled individuals or legal entities will be subject to...