Costa Rica's Ministry of Finance has published draft regulations for the implementation of the country's new value added tax (VAT) system. The new system, which was introduced by Law No. 9635 of 3 December 2018 ({News-2018-12-13/A/5-previous coverage}), will replace the current sales tax system from 1 July 2019. The draft regulations expand upon the rules introduced in the Law, including detailed rules concerning the scope of supplies subject to VAT, including cross-border digital services, the rules for taxable events and time of supplies, the taxable basis, the rates, the registration and return requirements, tax credits, etc. The draft regulations also...