Saturday 12 June 2021

Costa Rica Proposes A Tax On ATM Transactions

cajeroQCOSTARICA – The current administration continues looking for ways to fill its cash strapped coffers. The latest proposal: ATM transactions.

Legislator and former presidential candidate for the Movimiento Libertario party, Otto Guevara, says the government is planning to tax every automated teller (ATM) transaction over ¢100.000 colones (US$190).

The legislator says that law No. 19.959, called Ley para el Desarrollo Regional de Costa Rica (Regional Development Act of Costa Rica), will create a regional development fund. But how will be it financed?

- Advertisement -

Article 39 fo the bill, according to Guevara, would establish a 0.02% tax on the total amount of electronic transactions over ¢100.000 moved through the  Sistema Nacional de Pagos Electrónicos (Simpe) – the national electronic payments system, that includes ATMs.

“This project will impoverish more Costa Ricans. Another consequence of this proposal of the Executive is the ‘desbancarización’ (unbanking?) of many people…Libertarians will always be against more taxes,” said Guevara.

The legislator explained that many, to avoid paying the tax will use cash instead without resorting to the financial system. “They may even keep their home at home,” said Guevara.

The government’s proposal also calls for an annual review of the tax, based on the annual inflation.

- Advertisement -


- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Nicaragua government assures that detainees violated one of the Ten Commandments

TODAY NICARAGUA – The vice president of Nicaragua and First Lady,...

Your cell phone can now notify you if you had contact with a positive case of covid-19

QCOSTARICA - Fifteen months after the national emergency against covid-19 was...


The US sanctions Nicaraguan Daniel Ortega’s daughter and close associates

TODAY NICARAGUA – The United States imposed economic sanctions on four Nicaraguan officials close to President Daniel Ortega on Wednesday, June 9, 2021, including...

Quepos flooded by heavy rains (Photos)

QCOSTARICA - The residents of the Central Pacific endured heavy rains Monday afternoon, June 7, hardest hit the town of Quepos, where the streets...

Nicaragua’s Foreign Minister absent from the summit of Central American presidents

QCOSTARICA - The Daniel Ortega government sent its ambassador to Costa Rica, Duilio Hernández, as its representative to the summit of Central American presidents...

Will President Alvarado be vaccinated against Covid-19 soon?

QCOSTARICA - Costa Rican President Carlos Alvarado is just another citizen when it comes to covid-19 vaccination, given his young age and good health,...

Government promises to speed up vaccination against covid-19

QCOSTARICA - A total of 700,000 doses against covid-19 were applied across the country in May. A month earlier, health centers had applied 565,000...

Today’s Vehicle Restriction: June 11, “EVENS”

Today, Friday, June 11, only EVENS can circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save for those under the...

Police intervenes in the Rincón Grande de Pavas school due to overcrowding

HQ - The Fuerza Publica (National Pollice) intervened an agglomeration of people on the outskirts of the Rincón Grande de Pavas school during the...

The Best Bingo Halls in Costa Rica

The small Central American country of Costa Rica is known to be one of the top locations to retire, but it is also known...

Bukele advisers tried to leave Costa Rica with false covid-19 tests

QCOSTARICA - Two Costa Ricans who advise the government of Salvadoran President Nayib Bukele were arrested this Tuesday at the Juan Santamaría (San Jose)...


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.