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Taxation Closed 35 Businesses In The Last Week For Tax Irregularities

Behind on your business taxes? The General Directorate of Taxation, of the Ministry of Finance (Ministerio de Hacienda), may be knocking on your door as it did this past week, yellow taping (closing down) 35 businesses for five calendar days in different parts of...

Canadian Capital Fuels Colombian Cannabis Boom

(Ozy.com) Decades have passed since the bulk of marijuana cultivation in the Americas shifted from Colombia up to Mexico. But the tides are turning again. This time, suited businesspeople, not drug cartels, are betting on a lucrative Colombian weed crop, bound for markets around...

Yes, microlending reduces extreme poverty

A small boost in microlending to the developing world could lift more than 10.5 million people out of extreme poverty. That’s one conclusion of my study, published last month in The B.E. Journal of Macroeconomics, which found that microfinance not only reduces how many...

Germany, Costa Rica To Avoid Double Tax Starting Jan 1

(QCOSTARICA) Global Tax News -  German's Finance Ministry on October 24 confirmed that the double tax avoidance treaty between Germany and Costa Rica will apply from January 1, 2017. The treaty, signed on February 13, 2014, is the first such agreement between Germany and Costa...

Will There Be A Light At the End of the Fiscal Reform Tunnel in Costa Rica?

QCOSTARICA - Experts warn that the draft law which aims to raise income tax and convert sales tax into Value Added Tax (VAT) might not be approved for two years, despite the government's intention to have it place before the end of this year. The...

Hacienda Extends Consultation on Tax Reform

QCOSTARICA - The Ministry of Finance (Ministerio de Hacienda) has postponed until April 17 the deadline for individuals and businesses to comment on the draft legislation reforming income and sales taxes. Originally the deadline for providing comments on the tax proposal was March 27, but...

Government Plans To Create 15% VAT On Goods and Services

QCOSTARICA - The government on Tuesday proposed transforming the current sales tax of 13% to a Value Added Tax (VAT), levied both on goods and services, at a rate of 15%. The proposal by the Ministry of Finance (Ministerio de Hacienda) establishes a gradual adjustment:...

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