Changes to tax in the United States pressure on Costa Rica

Proposed measures would generate $ 210 billion in ten years

Obama proposes to increase collection

Government plans to ban deductions that companies employ in their claims for costs in their operations abroad

Source: larepublica.net

Barack Obama, president of United States, announced yesterday a series of measures to prevent evasion of taxes to tax havens, an initiative which, he said, the tax will generate $ 210 billion over ten years. In an appearance at the White House along with Timothy Geithner, Treasury secretary, Obama said that its aim to "eliminate the loopholes that allow businesses to benefit from the export of jobs or avoid paying taxes they should.

These measures are not popular among the corporate world and necessarily involve an element of pressure to Costa Rica in its "isolation" on measures of fiscal transparency and access to tax information to third countries. The various measures that are intended to be "deductions that companies employ in their tax returns for expenses in their operations abroad." Continued EFE note published by The Republic. "To qualify for these deductions, companies should pay taxes on their profits abroad. "

The position of many analysts close to changing the rules to Subpart F of the Tax Code in the U.S. is that those companies make some deductions inflen the number of taxes paid abroad to receive higher deductions for United States.

If this is a national measure to curb the creation of taxes outside the U.S. or not, as the White House says, the truth remains to be seen but if mayors are likely to generate requests for information to banks and tax authorities of other countries saw an increase in controls by the IRS on activities offshore.

Not by chance Obama proposes to "make permanent tax cuts to companies for investment in research in development." Such deductions disappear in principle and in the absence of reform at the end of this year.

Another measure proposed yesterday that Obama plans to increase to 800 the number of tax inspectors will examine the accounts of Americans abroad.

According to Obama, also is required for foreign banks to report to U.S. tax on income that the citizens of this country are on the outside.

"If you do not cooperate, we will assume that this is a tax and we will act accordingly," warned the president in the note in question