What is the Shareholder Declaration?
The Registry of Transparency and Final Beneficiaries (RTBF) promulgated by Law 9416, Law to Improve and fight Tax Fraud, established a digitized registry of shareholders and final beneficiaries, for Legal Entities, Trusts, Third-Party Resource Administrators and Organizations of noon non-profit.
Through this registry, the Costa Rican state intends to identify individuals in order to establish controls in tax matters as well as in the fight against money laundering.
Where is the declaration filed?
In conjunction with the Central Bank, the Ministry of Finance and the Drug Control Institute, the guidelines for the management of information were established, which can only be presented if there is a DIGITAL SIGNATURE (Law 8454), on the website https://www.centraldirecto.fi.cr/
In those cases where the representative or obligated person does not have a digital signature, they must, through a notary, establish the person authorized to make the RTBF statement.
When should the declaration be filed?
The ORDINARY statement. It must be submitted ANNUALLY, between April 1 and April 30 of each year.
For obligors that are constituted after April 30, they may make the ordinary declaration during the following 20 business days.
The EXTRAORDINARY statement. Corresponds to modifications where one of the owners of the shares equals or exceeds 15% of the total shares, for which the term will be 15 business days from the entry in the respective social book or official registry.
In case of errors, the obligee may correct the statement within a period of 30 calendar days, counted from the sending of the corrected statement.
Information necessary for the Declaration.
Identify the final beneficiaries of the shares, according to.
Number of shares greater than 15%
Majority of voting rights.
Right to designate or remove most of the administrative, management or supervisory bodies.
Other Type of Controller
Penalty for non-compliance with the duty to provide information on transparency and final beneficiaries of legal entities and other legal structures
Failure to comply with the indicated supply, will make you creditor of the sanction of article 84 bis of the Code of Tax Regulations and Procedures, Law No. 4755 of May 3, 1971 and its reforms. Regarding:
Pecuniary fine of 2% of the gross income of the legal person or legal structure, in the income tax period, prior to the one in which the infraction occurred, with a minimum of 3 base salaries and a maximum of 100 base salaries.
The National Registry may not issue certifications of legal status or registration of documents in favor of those who fail to provide information.
Public notaries must state in the documents they issue that the party obligated to supply is in breach of the Law to Improve the Fight against Fiscal Fraud.
Source: Ministry of Finance