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Dumb & Dumber Part 2

QCOSTARICA BLOGS – The First Award Goes to: -Taxing ATM withdrawals. That is right, the executive branch has proposed to the assembly to put a 0.02% tax on every ATM withdrawal of 100 colones or more.

So for us expats, and Ticos, who have offshore business deposits or retirement funds in a foreign bank and want to take out much-needed cash, it will cost a .0.002% tax.

For lack of trust, many, or even most, foreigners have business and retirement funds directly deposited to their U.S. banks and then a portion, as needed, transferred to a Costa Rican bank by use of an ATM machine.

Now, the proposal is that ATM’s charge a fee, the foreign bank charges a fee and our never tireless tax collector may also charge a fee.

In my case of Bac San Jose the fee to use an ATM that is not theirs is $4.75, Wells Fargo USA, for the transaction, is $2.50 + the 2% CR tax.

*If you use the BCR there is no foreign transaction fee on their end. However, the maximum withdrawal is one hundred USD.

Is there any way you cannot be taxed in Pura Vida land?

The Second Award Goes to. President Sólis .

Stand up a take a bow, Mr. President!

As we, the country fight off a fiscal collapse, you have decided to take a 12 day trip to the U.S. and Europe as well as a stop and see the Vatican.

The reason?



Well, he never said the reason except to promote CR globalization, whatever that means. Somebody needs to inform the president that we are in a crisis, we are losing business, the people are angry and his own legislator does not support him.

Meeting the Pope is indeed an honor, but unless it leads to one of the Vatican banks coming to Costa Rica, it is best to skip this itinerary which will certainly focus on the old standby, “We are a democracy, we have no army and a Central American leader in education.”

Then comes, “If the Vatican Bank has any left over funds, we sure can us them to build roads!

The Fourth Award Goes to: Who and the hell decided we will subsidize electric cars?

The proposal is If you import an electric plug-in car, you will receive a dramatic 1% duty, no marchamo, preferred parking, and driving plus a lot more benefits.

While perhaps well-meaning there are a lot more issues, who and the hell will plug-in their hybrid using the ICE electricity at a cost of double gasoline?

Outside of our homes, there are no electric chargers despite a proclamation that service stations and hotels will make them available.

Much like seeing the government reduce its spending, I really want to see it use electric or hybrid plug-in cars! In short, you go first.


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About Rico

Rico "Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

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  • Euphoria Lavender

    I really hope this tax doesn’t take effect as I, like many others, rely on funds obtained through the ATM machines. I’ve found that Banco Nacional still allows withdrawals of 260,000 colones at one time–about $500–though my local Banco Nacional cajero doesn’t dispense dollars and they don’t charge me a fee. It’s a good system for now, though it requires going to two banks since I don’t actually bank with them. Even if the tax does go through I believe it’ll still be worth it to live in Costa Rica. Other countries are instituting similar systems as we all rely more on machines for our banking.

  • Euphoria Lavender

    I really hope this tax doesn’t take effect as I, like many others, rely on funds obtained through the ATM machines. I’ve found that Banco Nacional still allows withdrawals of 260,000 colones at one time–about $500–though my local Banco Nacional cajero doesn’t dispense dollars and they don’t charge me a fee. It’s a good system for now, though it requires going to two banks since I don’t actually bank with them. Even if the tax does go through I believe it’ll still be worth it to live in Costa Rica. Other countries are instituting similar systems as we all rely more on machines for our banking.