Carolina Flores

Partner, Costa Rica


  • Carolina leads the Tax Department at Arias since 2001, she has more than twenty-two years of experience advising on complex tax matters. One of her many strengths is successfully assisting foreign clients in establishing effective tax structures that minimize risk and meet Corporate Tax compliance requirements for their operations in Costa Rica. This has differentiated Arias from other local firms that provide more aggressive tax advice. She also assists multinational clients headquartered in Costa Rica to coordinate their tax efforts across Central America and the Caribbean. Her regional leadership has also differentiated Arias from local firms which focus on in-country tax matters.
  • Also, she has a strong track record in local and regional tax advice for both local and international companies, tax planning, due diligence projects, tax compliance services and transfer pricing services, providing clients accurate assistance on local tax obligations.
  • Carolina is very active in the firm, introducing new products providing clients with integral advise and support, and integrating tax services with other practice areas including customs, corporate services and finance. In 2016, Carolina elaborated the Costa Rican Chapter on Transfer Pricing Regulations for the IBFD, a canter of expertise that offers information and education on international taxation.


  •  LL.M. in International Taxation from New York University, in New York. Fulbright Scholar.
  • Juris Doctor -equivalent law degree- from Law School, Universidad of Costa Rica. 
  • She is authorized as a practicing Attorney and Notary Public in Costa Rica.

  • Ranked in Chambers and Partners Global and Chambers and Partners Latin American guides for her Tax practice.
  • Shortlisted as Lawyer of the Year in Gender Diversity in Central America by Chambers Diversity & Inclusion.
  • Shortlisted as Latin America Tax Practice Leader of the Year 2021 by International Tax Review (ITR).
  • Ranked by Whos Who Legal by her practice in Corporate and Corporate Tax.
  • Listed as Leading Individual by The Legal 500.
  • LACCA Approved for her Tax practice.
  • Listed as Highly regarded lawyer in the General corporate tax and indirect tax practice areas by ITR in 2022.


  • International Bar Association (IBA)

Client's feedback

  • Noteworthy practitioner Carolina Flores possesses a wealth of experience in the tax arena. She is frequently seen advising key names from the food and beverage, telecommunications and financial services sectors on free trade zones, the tax implications of M&A and the interpretation of tax reforms. She is also well placed to assist clients with transfer pricing mandates and compliance. – Chambers and Partners Global.
  • An interviewee endorses Carolina Flores for "always being attentive and willing to clarify our doubts. We are very happy with her advice." The same respondent further appreciates that "she has excellent communication skills, good response times and a good handle on technology." Carolina Flores boasts significant expertise advising clients on the tax implications of M&A transactions, as well as free trade zones, transfer pricing and the interpretation of tax reforms. – Chambers and Partners Latin America.
  • Carolina Flores earns plaudits for her capable assistance to multinational clients in their domestic and international tax efforts. – Who’s Who Legal.
  • ‘The team is very responsive to clients’ requests, and very skilled in Costa Rican tax issues and in the international framework for taxing the digital economy. They are also very skilled in negotiations with the government and have facilitated multiple meetings with the tax authorities and Ministry of Finance in Costa Rica.’ – The Legal 500.
  • ‘Carolina Flores and Ligia Alfaro are very responsive and skilled in negotiations with the government.’ – The Legal 500.

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