Thursday, 13 August 2020

Costa Rica Improves Tax Evasion Controls

(QCOTARICA) The Directorate General of Taxation (Dirección General de Tributación) has hired an external...

The ‘Netflix Tax’ Will NOT Start On July 1; Amazon To Be Excluded From The VAT

Services such as Uber, Airbnb, and Netflix, among others,  will continue without the 13%...

Internatoinal Monteray Fund Supports Costa Rica’s Fiscal Reforms

QCOSTARICA by Mike Godfrey, Tax-News.com - The International Monetary Fund (IMF) has welcomed the...

Owners of new electric cars can save up to 65% on the 2020 Marchamo

The collection of the 2020 Marchamo (vehicular circulation permit) is around the corner, typically...

Three Families Receive A Quarter Of Government Spending On Rent

Five corporations (Sociedades Anominas or S.A.s'), controlled by three families, receive 24% of the...

Tomorrow Deadline To Declare And Pay Income Tax Without Penalty

Anyone who has carried lucrative activities or businesses in the country, between July 1...

Reduction in 2021 Marchamo proposed

This week, two bills were presented in the Legislative Assembly this week with the...

Attorney General: Decree Restricting Importation Of New Cars Is Unconstitutional

Q COSTA RICA - "It restricts the freedom of commerce and implies an intrusion...

Netflix Yes, Amazon No With Respect To The VAT

The Ministerio de Hacienda (Ministry of Finance) explained on Friday that the proposed 13%...

Tax Avoidance Is A Booming Industry

The so-called Paradise Papers may sound familiar – leaked documents from a law firm...

Government Decides To Propose A 13% VAT

Being more feasible to obtain the 29 votes needed in Congress, the Government decided...

U.S. Beef and Pork With No Duty to Costa Rica

As part of the Tratado de Libre Comercio (TLC) - Free Trade Agreement - ...

Shaking The Money Tree, Costa Rica Proposes Global Income Tax

QCOSTARICA - Under pressure to raise revenue and reduce deficits, the Government of Costa...

How much did prices go up during the first month of the VAT?

The year-on-year increase in consumer prices reached 2.89% during July, the first month of...

Construction and tourism exempted from VAT for a year

(QCOSTARICA)  Legislators on Monday approved, in the first debate, two bills that exempt tourism...

Uber Trips Would Be Taxed If VAT Is Approved

Legal or not, the tax plan that is in the process in Congress,  if...

Bill Proposed To Lift Bank Secrecy Law in Costa Rica

Bank secrecy (or bank privacy) prohibits banks in Costa Rica providing to authorities personal...

Marchamo is a fair tax and “it makes no sense” to reduce it, says Minister of Finance

(QCOSTARICA) The Marchamo, the vehicular right to circulate, "is a fair burden and it...

29 Products Removed From The Basic Basket And Must Pay The 13% Sales Tax

Soon, possibly as early as next week, a total of 29 products will no...

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...

Taxation Requires Professionals To Disclose Client List

QCOSTARICA - The next time you visit a doctor, dentist, lawyer, accountant or any...

Residential Landords Must Provide Electronic Invoices Starting September 1

Property owners renting a room, an apartment or a house, even if it is...

An End To Excessive Perks For Government Employees Proposed

The majority of legislators declared war on a series of salary bonuses ("pluses salariales"...

The Basic Points Of The New Corporations Tax Law

Q COSTA RICA - If the draft Ley de Impuesto a las Personas Jurídicas...

Manitoba (Canada) premier penalized for unpaid back taxes on Costa Rica vacation home

Manitoba, Canada, Premier Brian Pallister has been penalized for taxes owing on his vacation...

Tax on Soft Drinks and Snacks Heats Up Tax Reform Debate

The inclusion of a tax on plastic containers and another on ultra-processed food, proposed...

The VAT is not the end of the world

Each home is different. However, the entry of the Value Added Tax (VAT) will...

Costa Rica Has Some of the World’s Highest Taxes

The government of Carlos Alvarado is about to impose a 40.5% tax on the...

Hard blow to tourism in Costa Rica

Two aspects included in the Plan Fiscal (tax reform) would hit tourism, making services...

osta Rican Companies Have Less Than 2 Weeks To Adopt The Factura Electrónica

September 1 is the deadline for businesses in Costa Rica to adopt the Factura...

Ticos say they will sacrifice fast food and beer because of the VAT

Jonathan Jiménez likes his beer. Every quincena (pay weekend) he spends between 20 and...

More Corporations (Sociedad Anónimas) Close in Costa Rica

In the first nine months of 2019, 4,715 Corporations or Sociedad Anónimas were closed,...

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