¿Que es la Declaración de Registro Transparencia y Beneficiarios Finales?
The Registry of Transparency and Final Beneficiaries (RTBF), established under Law 9416 – the Law for the Improvement and Combat of Tax Fraud – implements a digitized registry of shareholders and final beneficiaries for legal entities, trusts, third-party resource administrators, and non-profit organizations.
This registry enables the Costa Rican government to identify individuals, facilitating enhanced oversight in tax matters and strengthening efforts to combat money laundering.
Where is the information filed?
The information must be submitted online at https://www.centraldirecto.fi.cr/ and requires a digital signature, as mandated by Law 8454. The guidelines for managing this information were developed in collaboration with the Central Bank, the Ministry of Finance, and the Drug Control Institute.
If the legal representative or obligated individual does not possess a digital signature, they must authorize a representative through a notary to submit the RTBF declaration on their behalf.
When should the declaration be filed?
Ordinary Declaration:
The ordinary declaration must be submitted annually between April 1 and April 30.
If the obligated entity is constituted after April 30, it may submit the ordinary declaration within the following 20 business days.
Extraordinary Declaration:
This declaration is required when any shareholder acquires ownership of 15% or more of the total shares. The declaration must be submitted within 15 business days from the entry in the corresponding corporate ledger or official registry.
Corrections:
In the event of errors, the obligated party may correct the declaration within 30 calendar days from the date the corrected statement is submitted.
Information Required for the Declaration
Identification of Final Beneficiaries:
- The individuals who ultimately own or control the shares.
Shareholding Participation:
- The number of shares held by individuals with more than 15% ownership of the company’s equity.
Majority Voting Rights:
- Identification of those with the majority of voting rights in the organization.
Authority to Appoint or Remove Officials:
- Individuals with the right to designate or remove most members of the administrative, management, or supervisory bodies.
Control by Statutes:
- Control established through the company's bylaws or statutes.
Other Types of Controllers:
- Any additional individuals or entities exercising control or significant influence over the organization.
Sanctions
Failure to comply with the obligation to provide information on the transparency and final beneficiaries of legal entities and other legal structures will result in the following penalties, as outlined in Article 84 bis of the Code of Tax Regulations and Procedures (Law No. 4755 of May 3, 1971, and its amendments):
Monetary Fine:
- A fine of 2% of the gross income of the entity from the income tax period preceding the infraction.
- The fine will be no less than 3 base salaries and no more than 100 base salaries.
Restrictions by the National Registry:
- The National Registry will withhold certifications of legal status or the registration of documents for entities that fail to provide the required information.
Notary Requirements:
- Public notaries must record in the issued documents that the obligated party is non-compliant with the Law to Improve the Fight Against Tax Fraud.
Source: Ministry of Finance