Archive for November 25th, 2009
Wednesday, November 25th, 2009
Argentina has signed an agreement with Costa Rica to share banking information, in the latest move to tighten the noose on Argentines with cash hidden in overseas tax havens.
Similar agreements were recently signed with Andorra and Monaco.
The deals are designed to stop tax evasion and fraud by exchanging tax information, lifting banking secrecy and allowing agents to conduct investigations overseas, according to the Ricardo Echegaray, director of Argentina’s tax agency, or AFIP.
Argentina is expected to sign similar deals next week with the Bahamas and San Marino, in addition to a customs information agreement with Russia, AFIP said in a press release Tuesday.
The government is also working to reach financial information sharing agreements with a number of additional tax havens such as the Cayman Islands, Dutch Antilles, Aruba, Barbados and Jersey.
The push comes as part of a drive to catch tax cheats who failed to come forward before the Aug. 31 end of an amnesty program for Argentine companies and individuals with hidden funds and unpaid taxes.
The amnesty plan hauled in 32.8 billion pesos ($8.5 billion), surpassing expectations, but still leaves a large amount of funds held by Argentines overseas or suspected to be hidden from authorities.
According to various estimates, Argentines have well over $100 billion in funds invested overseas.
Just under 170,000 companies and individuals took advantage of the amnesty plan, paying ARS14.7 billion in debt owed to AFIP.
Almost 36,000 individuals legalized undeclared funds under the amnesty, bringing in ARS18.1 billion hidden by individuals overseas.
Individuals were allowed to declare their hidden stashes and wipe the slate clean by paying an 8% tax, or just 1% if the funds are invested in real estate or capital goods. That compares with an income tax as high as 35% that would have been paid on most of the funds.
Posted in Costa Rica News | No Comments »
Wednesday, November 25th, 2009
So far this month of November has been a rocking month in Costa Rica, as the country has been shook and rolled at least 9 times in the past 23 days. However, experts say there is nothing to worry or be frightened about, this is all normal for the month.
According to Ronnie Quintero, seismologist for the Observatorio Vulcanológico y Sismológico de Costa Rica (Ovsicori), the earthquakes this month are normal and cyclical, even though last November only two tremors were recorded.
The latest three quakes were reported on Sunday in the areas of Alaska de Pérez Zeledón, which was hit by two and the other at the volcán Irazú.
Friday a tremor was recorded in La Boca del río Parismina and Thursday in Cartago.
Quintero said it is normal for people to be concerned about the seismic activity, but the tremors are normal seismic activity that people are feeling and naturally get scared.
Nortwitstanding, Quintero added that special attention is being given to the Parismina tremor, where two quakes, one registering 4.6 and the other 5.2 on the Richter scale, were felt.
Quintero explained that the special attention is that even though there have been tremors recorded in the area known as “nido de Parismina” (Parismina nest_, none have been of that magnitude, the majority being between 2 and 3 degrees on the Richter scale.
On January 8, 2009, a 6.2 earthquake shook the Cinchona and Vara Blanca area, causing massive destruction, forcing the evacuation of thousands and the death of 19.
The area is still recovering and the Cinchona – Sarapiquí route is still closed due to land and mud slides caused by the earthquake.
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Wednesday, November 25th, 2009
Note on your calendar the dates December 19, 2009 to January 4, 2010, as the date the public sector employees are off on their Christmas/Year End vacation.
The ministro de la Presidencia, Rodrigo Arias, made the announcement yesterday, in effect giving the order to all heads of government institutions and agencies to shut down for the holidays.
Public sector employees will actually have eight days off: December 21, 22, 23, 24, 28, 29, 30 and 31. All the other days are Saturdays, Sundays and legal holidays (December 25 and January1).
Arias added that instructions are being sent to those institutions and agencies that provide “emergency” services, to adjust their schedules and staff rotations to guarantee services to the public.
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Wednesday, November 25th, 2009
The new stadium in Parque la Sabana will have a grass field instead of artificial turf as can be found now in one of the local soccer stadiums.
That was the report from Casa Presidencial which said that the stadium, being built by the government of the People’s Republic of China, is half finished.
Rodrigo Arias Sánchez, minister of the Presidencia, said that the stadium probably would be finished in the first few months of 2011. He toured the site Tuesday. The $83 million stadium will seat 35,000 persons.
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