Costa Rica's Ministry of Finance has announced the presentation of the draft Law for the Strengthening of Public Finances to the Legislative Assembly, which would introduce a number of changes to the country's tax system. The main changes include: Income tax reform, including a change to a global income tax basis, regardless of the nature of the income, as well as new general expense deduction rules, rules for PE determination, an interest expense restriction (20% of EBITDA), and other changes; Value added tax reform, including an increase in the standard VAT rate from 13% to 15%, and new provisions allowing...