Treasury opens public consultation on banking due diligence for the CRS standard

The Ministry of Finance, through the General Directorate of Taxation, opened a ten-business-day public consultation period regarding the draft “Resolution on Due Diligence for the Provision of Information corresponding to the Standard for the Automatic Exchange of Financial Account Information: COMMON Reporting Standard (CRS)”. The notice was published in La Gaceta No. 189 on Wednesday, October 7, 2026, in the Miscellaneous Documents section, page 7, under official reference IN202601130180. The period runs from the first publication of the notice, which occurred on October 6, 2026.

The call is based on the second paragraph of Article 174 of the Code of Tax Norms and Procedures, Law No. 4755, which requires draft general regulations of the Tax Administration to be submitted for consultation. The notice is signed by Miguel Ángel Solís Sánchez, General Director of Taxation and Competent Tax Authority, and was issued in San José at eight o’clock on September 29, 2026.

What is being submitted for consultation

The draft develops the due diligence rules that must be applied by entities obligated to provide information under the CRS standard, the Organisation for Economic Co-operation and Development (OECD) model for the automatic exchange of financial account data between tax administrations.

The consultation is aimed at entities representing interests of a general, corporate, or diffuse nature—that is, the sectors whose activities would be affected by the future resolution.

How to participate

• Deadline: ten business days starting from the first publication of the notice.
• Format: observations must be submitted in writing.
• Destination: the email address dntt@hacienda.go.cr.
• Text consultation: the draft is available at the site https://www.hacienda.go.cr/ProyectosConsultaPublica.html, in the “Projects under Public Consultation” section of the General Directorate of Taxation.

The international framework

Costa Rica participates in the multilateral system for the exchange of tax information. The national budget includes the payment of fees to the OECD for membership in the Convention on Mutual Administrative Assistance in Tax Matters and the Multilateral Competent Authority Agreement for the automatic exchange of financial account information and country-by-country reporting (CRS and CBC MCAA), in accordance with the declaration on the automatic exchange of financial information of 06/03/2015 and the declaration on the multilateral agreement of competent authorities for the exchange of the country report of 01/27/2016, as recorded in Supplement No. 117 to La Gaceta of September 7, 2026.

Impact on the financial system

The resolution under consultation defines the standard of diligence with which banks and other obligated financial entities must identify and report the account information required by the CRS. Internal customer identification procedures, report quality controls, and exposure to sanctions for non-compliance with formal duties will depend on its final content.

The closing of the observation period is the last opportunity for financial sector guilds and entities representing diffuse interests to influence the text before its issuance. Once the consultation is exhausted, the General Directorate of Taxation may issue the definitive resolution, which will be mandatory for the obligated parties.

Source: La Gaceta No. 189, Wednesday, October 7, 2026, Miscellaneous Documents (Treasury, General Directorate of Taxation), p. 7 (official reference: IN202601130180).