Costa Rica: Resolution on CRS due diligence and compliance amendments
Key updates introduced by the new resolution
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August 18, 2025
The Imprenta Nacional on July 23, 2025, published Scope No. 92 of the Official Gazette No. 136, which includes Resolution MH-DGT-RES-0012-2025 issued by the General Directorate of Taxation of Costa Rica on July 1, 2025. This resolution consolidates the due diligence procedures, general reporting obligations, definitions, and timeframes that reporting financial institutions must follow under the common reporting standard (CRS), which were previously outlined in Resolutions No. DGT-R-16-2020, DGT-R-27-2021, and DGT-R-23-2022, all of which have now been repealed.
The key updates introduced by the new resolution are as follows:
- Mandatory self-review tool for CRS reports: Reporting financial institutions must complete the “Self-Review Tool for CRS Reporting Compliance” with the most current data when submitting the CRS report through the Tax Information Exchange System (SIIF).
- Simplified process for filing Nil reports: For reporting financial institutions that have no reportable accounts, the prior requirement to submit a sworn declaration has been eliminated. Instead, reporting financial institutions must indicate on the SIIF system that they have no reportable accounts and complete the self-review tool. The system will generate an acknowledgment of receipt.
- New supervision and compliance framework: The tax administration is granted authority to supervise, verify, and monitor reporting financial institutions annually to ensure compliance with due diligence requirements and CRS reporting obligations. To achieve this, the tax administration may request relevant information on due diligence processes and the acquisition of self-certifications related to the annual CRS report.
- Extended reporting deadline for tax year 2024: Due to regulatory and technological updates aimed to enhance reporting efficiency and ensure compliance with international tax transparency commitments, the deadline for submitting CRS reports for the 2024 tax year has been extended. The CRS reports must now be submitted between August 1 and September 1, 2025.
Read an August 2025 report prepared by the KPMG member firm in Costa Rica