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Costa Rica Banks Win Tax Lawsuit Against Hacienda

Costa Rica's banking sector won a lawsuit against the Ministerio de Hacienda (Ministry of Finance), arising from disagreements over the method used to calculate tax payments. The legal dispute dates back several years, since in 2003 the General Directorate of Taxation (DGT) validated the methodology...

Residential Landords Must Provide Electronic Invoices Starting September 1

Property owners renting a room, an apartment or a house, even if it is for a low amount, should start to issue a "factura electrónica" (electronic invoice) to their tenants starting September 1 of this year. Tax experts say starting in September, taxpayers who have...

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...

Tax Avoidance Is A Booming Industry

The so-called Paradise Papers may sound familiar – leaked documents from a law firm that specialises in offshore services reveal how the global elite avoids paying taxes. Even the name has the same ring to it as last year’s Panama Papers expose. But the...

Corret Income Tax for Foreigners Investing in Costa Rica Stock Market Is 8%

Since September 25, foreigners who acquire securities from the local stock market will have to pay 8% tax on the dividends generated, just like the tax paid by nationals, and not the 15% set previously. The differences that had arisen regarding how much and in...

Bill Proposed To Lift Bank Secrecy Law in Costa Rica

Bank secrecy (or bank privacy) prohibits banks in Costa Rica providing to authorities personal and account information about their customers without a court order. A bill that is being currently discussed in Congress would remove banking secrecy (or bank privacy) in the country, allowing the...

Costa Rica Improves Tax Evasion Controls

(QCOTARICA) The Directorate General of Taxation (Dirección General de Tributación) has hired an external service that cross matches taxpayer data in public databases to identify suspicious patterns that might suggest misconduct. The project called "Modelo Predictivo" (Predictive Model) started to be implemented by the Ministry...

Costa Rica: Personal Taxation

QCOSTARICA often gets inquiries about taxes in Costa Rica. For that we turned to Tax-News.com, a great source of tax information on Costa Rica and around the world. The following is their take on taxes of individuals in Costa Rica: In Costa Rica the taxation of...

Hacienda Insists On Seizures Without a Court Order

(QCOSTARICA) --The government insists on authorizing the Directorate of Taxation (Dirección de Tributación Directa) to seize assets and bank accounts of delinquent taxpayers, despite the lack of a court decision. However, on Monday, it backed down on giving Taxation the authority to take possession of...

Taxation Aims To Seize Property And Bank Accounts Without a Warrant

(QCOSTARICA) In an effort to reduce the estimated ¢58 billion colones in tax evasion, the government wants to empower the Directorate of Taxation (Dirección de Tributación Directa) to seize property and bank accounts of taxpayers, without and order from a judge. That's one of the...

Collection of Tax Liabilities Upfront

QCOSTARICA - The Attorney General's Office  (Procuraduría General de la República) is recommending to the Constitutional Court that it reject the appeal which seeks to outlaw the power of the taxation department to proactively collect tax debts. The appeal to the Constitutional Court (or Sala...

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