The Registration of Transparency and Final Beneficiaries (RTBF) in Costa Rica is designed to identify the individuals who ultimately own, control, or benefit from businesses and legal entities based in the country.

This declaration is mandatory and must be submitted between April 1 and April 30.

Mario Ramos, Director of Taxation at the Ministry of Finance, stated that commercial legal entities, administrators of third-party resources, private trusts, and non-profit organizations—including associations, foundations, cooperatives, and solidarity associations—are required to comply with this requirement.

All such organizations must report to the Central Bank of Costa Rica (BCCR) the identities of their shareholders and significant ultimate beneficiaries, in accordance with the Law to Improve the Fight Against Tax Fraud (Law No. 9416).

The registration process is carried out through CENTRAL DIRECTO, the official platform of the BCCR, where users can pre-load their most recently filed declaration.

Ramos emphasized that only changes to the previously submitted data need to be updated; otherwise, the previously presented information should be validated.

Additionally, it is essential that the individual responsible for the declaration has a digital signature to access Central Directo and complete the RTBF process.

In exceptional cases where a third party is authorized through a power of attorney, if a special power is chosen, the notary public who registers it in the RTBF system must specify the type of declaration and the corresponding period.

The College of Public Accountants issued a warning stating that failure to provide the required information by April 30 may result in a penalty equivalent to 2% of the gross income for the previous fiscal year.

The fine ranges from three base salaries (₡1,386,600) to a maximum of 100 base salaries (₡46,220,000).

Persistent non-compliance will prevent the National Registry from issuing certifications of legal personality or registering documents.

Furthermore, notaries public will need to indicate in the acts they formalize that the obligated individual has not complied with this provision.

In addition to the RTBF, the College of Public Accountants informed about imminent fiscal obligations, including the payment of the Tax on Education and Culture (TEC) and the first advance payment of income tax.

The TEC must be paid no later than March 31 and applies to legal entities registered in the Mercantile Section of the Public Property Registry, irrespective of whether they are active or inactive societies.

The payment amount, determined by the net capital, ranges from ₡5,000 to ₡18,000, and no form submission is necessary; payment can be made through banking connectivity.

Entities that fail to pay the TEC will incur a penalty of 1% for each month or part of a month that elapses from the deadline until payment is made, capped at a maximum of 20% of the amount owed.

Regarding the advance payment of income tax, the College noted that the first partial payment is due by June 30. Taxpayers must make three annual advance payments in June, September, and December, in addition to filing the final tax return in March of the following year.

These advance payments are deducted from the final tax amount owed.

Non-compliance with this advance payment results in a penalty of 1% for each month or part of a month from the due date until payment is made.

This penalty is non-negotiable and cannot exceed 20% of the total amount owed.

The College of Public Accountants advised that those who anticipate losses during the fiscal period should request a waiver for this payment.

Furthermore, if the calculation base for the advances is impacted by an extraordinary income, resulting in a lower quota when excluded, obligated individuals may recalculate the amount and apply for a reduction of the payment.