Costa Rica Redefines Its Accounting Rules for 2027: Is Your Business Prepared?

Jul 30, 2026·By Pablo Gonzalez Montoya

Costa Rica Redefines Its Accounting Rules for 2027: Is Your Business Prepared?

Costa Rica’s General Directorate of Taxation has issued new criteria governing the application of the International Financial Reporting Standards (IFRS) for tax purposes.

The new provisions will take effect on January 1, 2027, under Resolution MH-DGT-RES-0015-2026. Their purpose is to align financial accounting with tax regulations, establish more consistent audit criteria, and provide greater legal certainty for both taxpayers and the Tax Administration.

Although the effective date may still seem far away, 2026 should be treated as a year of preparation. The transition may require companies to revise their accounting policies, internal procedures, information systems, and the documentation used to support their transactions.

What Is Changing Under the New Resolution?

The resolution clarifies how IFRS should be applied for tax purposes and identifies the circumstances in which the accounting treatment applies or a specific tax provision takes precedence.

It also repeals Resolution DGT-R-029-2018 and updates the interpretive framework used by the Tax Administration to assess taxpayers’ financial information.

The most significant changes include:

Large National Taxpayers will be required to apply full IFRS.
Taxpayers under the general regime may apply either full IFRS or IFRS for SMEs, as applicable.
Companies will be expected to properly document differences between accounting profit and the taxable base used to calculate corporate income tax.
The Tax Administration will have more consistent criteria for reviewing and auditing taxpayers’ financial information.

This is more than a technical accounting change. It strengthens the connection between financial reporting, tax compliance, and corporate risk management.

How Will This Affect Businesses?

The new rules change how companies will be expected to support their financial figures during a potential tax review or audit.

Submitting financial statements and tax returns will not be enough on its own. Businesses must be able to demonstrate that the information reported is based on appropriate accounting policies, consistent records, and verifiable supporting documentation.

In practice, companies should ensure that:

Their accounting policies are aligned with the applicable IFRS framework.
Differences between accounting records and tax returns are properly explained and documented.
Financial statements accurately reflect the transactions carried out.
The criteria, estimates, and accounting judgments applied are adequately supported.
Accounting, finance, legal, and tax teams work together to reduce potential tax exposure.
This becomes especially important as the Tax Administration continues strengthening digital tools such as TRIBU-CR and expanding its ability to analyze and cross-check taxpayer information.

The Difference Between Accounting Profit and Taxable Income

One of the most important areas of focus will be documenting the differences between financial accounting and the calculation of corporate income tax.

The profit reported in a company’s financial statements does not always match its taxable income. Certain transactions and accounting items may receive different treatment under IFRS and Costa Rican tax law.

Companies should therefore maintain clear reconciliations explaining:

The accounting treatment applied.
The treatment required under tax legislation.
The reason for the difference.
How the difference affects the calculation of corporate income tax.

An incomplete or unsupported reconciliation may increase the risk of findings, tax adjustments, and contingencies during an audit.

Why Should Businesses Begin Preparing in 2026?

Waiting until the end of 2026 could result in rushed adjustments, unnecessary costs, and a higher risk of noncompliance.

Before the new rules take effect, businesses should consider the following actions:

1. Identify the accounting framework currently in use
Companies should confirm whether they are required to apply full IFRS or IFRS for SMEs.

2. Review existing accounting policies
Accounting policies should accurately reflect the standards applicable to the organization and the economic substance of its transactions.

3. Evaluate accounting and tax differences
The company should determine whether its current reconciliations provide sufficient clarity, consistency, and traceability.

4. Update internal manuals and procedures
Closing, recording, review, and approval processes may need to be revised.

5. Train responsible personnel
Accounting, finance, tax, and administrative teams should understand the new criteria and their practical implications.

6. Review information systems
Some organizations may need to adapt their systems to produce more detailed reports, reconciliations, or supporting records.

7. Strengthen supporting documentation
Relevant accounting judgments and treatments should be properly documented and consistent with the economic reality of each transaction.

Starting early will allow businesses to implement changes gradually and complete the transition in a more organized manner.

Preparation Is Not Solely an Accounting Responsibility
This change should not be managed exclusively by the accounting department.

Financial reporting policies may affect contracts, financing arrangements, investments, dividend distributions, asset valuations, and other significant business decisions. Preparation should therefore involve accounting, finance, legal, tax, and administrative teams.

Coordination between these areas can help identify inconsistencies before they become tax contingencies.

2027 Starts Now

The new resolution confirms the Tax Administration’s continued shift toward more technical audits based on consistent, traceable, and properly supported financial information.

Companies that begin reviewing their policies and procedures during 2026 will be better prepared to comply with the criteria taking effect in 2027 and to respond more confidently to future tax reviews.

Preparation is not simply about adopting an accounting standard. It is about ensuring that every relevant figure can be explained, justified, and supported.

Is Your Business Prepared for the 2027 Accounting Changes?

At WeSolvo, we help businesses review their accounting policies, identify differences between financial and tax reporting, strengthen internal procedures, and prepare for the Tax Administration’s new audit criteria.