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Latin American Economy & Business - March 2019

Costa Rica: Alvarado’s beleaguered tax reform finally passes congress

On 3 December 2018, Costa Rican President Carlos Alvarado’s pivotal tax reform was approved by congress after months of union strikes, protests, and violent confrontation. The passage of the Strengthening Public Finances Law marked the beginning of a long road to recovery from a dire fiscal situation that had made reform essential. Following a second and final congressional debate, legislators voted through the amended bill by 34 votes to 17 with six abstentions.

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