Quantcast

value added tax

Costa Rica Urged To Adopt VAT (Value Added Tax)

Costa Rica Urged To Adopt VAT (Value Added Tax)

Q COSTA RICA NEWS – The International Monetary Fund (IMF) has urged Costa Rican lawmakers to agree on much-needed valued added tax (VAT) that would replace the current sales tax on purchases and income tax reforms. The report said that the country has increased its income tax revenues and approved laws to tackle tax evasion. […]

A Casado Without Meat Or Egg For Many If Tax Plan Is Approved

A Casado Without Meat Or Egg For Many If Tax Plan Is Approved

QCOSTARICA – A casado without meat or eggs would be the meal for many if the government’s new tax reform is passed as presented to the Legislative Assembly. The casado is a traditional Costa Rican dish of rice, beans, platano, egg and a piece of meat – steak, chicken or pork. But, under the new […]

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

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 lack of consensus between the Ministry of Finance (Ministerio de […]

NOT The Way To Go Costa Rica, To Tax Electricity, Water, Rents and Health

NOT The Way To Go Costa Rica, To Tax Electricity, Water, Rents and Health

TICO BULL – One of the issues made clear by both foreign and national businesses, is that Costa Rica has to cut its electricity rates. So, while the president on the one hand gives us the impression that he agrees that electricity rates are high and efforts should be made to lower them, his minions […]

Government Plans To Create 15% VAT On Goods and Services

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: in the first year, the tax would be 13%, for […]