Regulatory Alerts2015-04-07 | CD-SIBOIF-884-1-ABR7-2015Added · Updated
Norm for the Application of Article 87, Paragraph 3 of Law No. 822, Tax Coordination Law
The Superintendence of Banks and Other Financial Institutions issues this regulation to define investment-grade ratings as first-class risk ratings from credit rating agencies for the application of a 10% withholding tax on capital income from international banks. The Superintendence must publish and annually update a list of qualifying international banks on its website and notify competent fiscal authorities of the list and any changes. Borrowers whose banks are not listed may request inclusion by providing evidence of the required rating and the assigning agency. The regulation entered into force upon its publication in La Gaceta.
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