Costa Rica passed the test of the Fiscal Affairs Committee of the Organization for Economic Cooperation and Development (OECD). This was announced by the Ministry of Foreign Trade (COMEX), which indicated that it is one of the most complex and protracted examinations of the country’s accession process to that international organization. It is the eleventh favorable opinion of the 22 necessary for admission to the OECD.
According to a COMEX statement, the Ministry of Finance, which was in charge of leading most of the technical aspects of the evaluation, worked actively with the OECD to improve Costa Rican tax regulations, in accordance with the best practices and international standards promoted by the organization.
Helio Fallas said that the favorable opinion of the OECD, as well as the commitment of the Executive and the Legislative to complete the reforms proposed and supported by the organization, are very positive signals for the markets and the analysts.
The Minister of Foreign Trade and coordinator of Costa Rica’s accession process, Alexander Mora, explained that in order to obtain the favor of the Fiscal Affairs Committee, it was necessary to have the favorable technical opinions of eight highly specialized sub-committees for several years.
Costa Rica began its formal process of joining the OECD in 2015.