According to recent reports, the new tax information exchange agreement between Costa Rica and the U.S. entered into force on 18 September 2020, replacing the 1989 tax information exchange agreement between the two countries. The new agreement, signed 17 April 2018, is in line with the OECD standard for information exchange and provides for both the automatic and spontaneous exchange of information. It applies for information requests made on or after the date of its entry into force, regarding taxable periods beginning on or after the date of its entry into force.