Tuesday 15 June 2021

Covid-19 emergency: Payment of four taxes postponed

With the unanimous vote of 47 legislators present, the Legislative Assembly approved in the first debate, on Tuesday night, the Ley de Alivio Fiscal ante el Covid-19 (Tax Relief Law before Covid-19), after an intense day of negotiations between the legislative factions and the Minister of Finance, Rodrigo Chaves.

Finance Minister, Rodrigo Chaves (center) was hands on during the day Tuesday, in negotiations with legislators, that led to the approval of the bill to alleviate the effects of the covid-19 on businesses. Photo: Courtesy Nueva República.

With the approval of the plan proposed by the Government, it benefits companies, merchants and independent workers, since the Ministry of Finance will postpone the payment of four types of taxes for the months of April, May and June.

- Advertisement -

The bill, once it gets approval in second and final reading and the signature of President Carlos Alvarado, will implement a moratorium of taxes such as the Value Added Taxe (VAT), on profits, selective consumption and tariffs for the import of merchandise into the country.

Instead of paying it in April, May and June, tax collectors or taxpayers may pay up no later than December 31.

Legislators also guaranteed to exempt from the payment of the VAT, for three months, on rents paid by businesses. Currently, that is a 13% tax is paid by those who rent premises with a cost greater than ¢668,000 colones per month.

The exemption applies as long as the lessee and the lessor are registered Single Tax Registry (Registro Único Tributario).

- Advertisement -

Important to note that the above is the simplified version of the bill, the actual process of what and how the tax moratorium and postponment, penalties, fees, etc are complicated and taxpayers are best to consult their accountants or tax lawyer as to how they changes apply to them and their effect on their business.

 

- Advertisement -

FACT CHECK:
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.

Ricohttp://www.theqmedia.com
"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

On Monday the vehicle restriction will change, again

QCOSTARICA - In times of pandemic, things change constantly, especially when...

Should the vaccination against covid-19 be opened?

QCOSTARICA - Six months after the start of vaccination against covid-19,...

MOST READ

Planning to travel? You will only be certified as vaccinated if you received doses in Costa Rica

QCOSTARICA - Do you need a certificate of the COVID-19 vaccines applied in Costa Rica?  People who require a certificate that certifies the receipt...

Costa Rica passes law to attract foreign pensioners and rentiers with $150K capital

QCOSTARICA - Costa Rica's legislature approved, in the first debate, a bill that reduces the minimum amount that a foreign pensioner or rentier must...

Rainy afternoons and nights this week in most of the country

QCOSTARICA - Characteristic of the rainy season, we will see rain in the afternoons and nights in the Central Valley, the entire Pacific coast,...

Today’s Covid News: A slight drop in new cases and deaths is seen

QCOSTARICA - Faced with wasting a vaccine dose when people in the priority groups scheduled do not show up, and a substitute cannot be...

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...

Southwest adds yet another route to Liberia, now from Denver

QCOSTARICA - Southwest airlines will add a new route to the Daniel Oduber International Airport, in Liberia, this time connecting with the city of...

Europe opens the doors to tourism, these are the requirements

Q TRAVEL - Europe opened the doors to tourism. While worldwide vaccination against covid-19 advances above the levels of each country, the restrictions are...

Tourism’s path to recovery

QREPORTS - A new travel trends research paper released today by Tripadvisor®, the world's largest travel guidance platform, reveals that vaccine rollouts globally are...

Central America is back in the news for the wrong reasons, Costa Rica is once again the exception

QCOSTARICA - Osta Rica has been the epicenter of regional diplomacy in recent days. The successive visits of the Secretary of State of the...

WANT TO STAY UP TO DATE WITH THE LATEST!

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.