In order to strengthen mechanisms for prevention, detection, control and reporting carried out by financial institutions and other regulated subjects, Deputy Minister of Revenue, Ministry of Finance, Fernando RodrÃguez, seeks to amend Article 34 of the 8024 Act.
This would close loopholes that were evident with the global research known as “Papers of Panama” and seeks to strengthen the prevention of tax crimes and the fight against fraud.
The idea is to improve control mechanisms to ensure proper detection of suspicious activity either by natural and legal persons, as well as prevention of money laundering, terrorist financing and tax evasion.
President Luis Guillermo Solis thanked the legislators for prioritizing the bills of tax and pension fraud process.