Costa Rica Draft Tax Reform Law Presented to Legislative Assembly

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 cha…