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Construction will become more expensive with tax reform

With the entry into force of the Value Added Tax (VAT) - Impuesto al Valor Agregado (IVA) in Spanish -, all services necessary to complete a construction process will increase by having to charge a tax of 13% on the invoices issued. This is a...

Strong Rebound in Construction Boosts Costa Rica’s economy

A strong recovery in construction modified the growth trend that the Costa Rican economy had been showing, which now reports 10 consecutive months of acceleration. The monthly index of economic activity (IMAE) began to accelerate as of August last year and reported, as of May,...

Costa Rica Economic Activity Up 3.5%

The performance of the construction sector at the end of the year explained the acceleration registered in the country's economic activity up to December 2017. From a report by the Central Bank of Costa Rica (Banco Central de Costa Rica): The country's production of goods and...

Suspended BCR General Manager Will Be First To Arrive At the San Sebastian Jail

Mario Barrenechea, the suspended general manager of the Banco de Costa Rica (BCR), will be the first, today Monday, to be transferred to the San Sebastian jail, confirmed the director of the Organismo de Investigación Judicial (OIJ), Walter Espinoza. The other five members of the...

Costa Rica Construction Sector Grew 4.2% in 2016

Q COSTA RICA - The number of constructions works in Costa Rica grew by 4.2% compared to 2015, mainly explained by the increase of 16% in the province of San Jose and 11% in Guanacaste. According tothe report by the Instituto Nacional de Estadística y...

Condominium Construction Slowdown

QCOSTARICA - Construction of housing condominiums is slowing down according to the Costa Rican Chamber of Construction, the Cámara Costarricense de la Construcción (CCC). The CCC says 2014 figures are down 14% over 2013. For 2015, the drop in the first two months was 32%...

High Costs Challenge Construction in Costa Rica

QCOSTARICA - If in 2005 to build a home in Costa Rica cost about US$400 per square meter for 2014 it was around US$700. Elfinancierocr.com reports that the single most cost increase is labor,  80% over the same period, according to analysis "7 realities of...

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