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Costa Rica’s ICE Would Prefer to Not To Open Their Financial Books

Costa Rica News – Isn’t it nice, that government entities seem to think that the rules and laws do not apply to them? Just open your wallet and pay them each month….no questions asked.

ice costa rica costsThe Costa Rican government has several decrees within Articles 36 and 37 of the Act to Strengthens and Modernization of Public Entities of the Telecommunication Sector that require financial reporting annually.

ICE the Costa Rican Electricity Institute is the largest provider of electricity and telecommunications services in the Country. ICE is challenging Articles 36 and 37 that requires them to submit an annual financial report to the Government.

ICE filed a lawsuit on August 12 against the Comptroller General of the Republic (CGR) to challenge the legality of requiring them to submit financial reports. CGR stated that they are only interested in performance indicators.

ICE has not made any public statements regarding the challenge. ICE maintains in the lawsuit that the company’s financial statements and those of its subsidiaries are private.

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