Thursday 16 September 2021

Legislative Christmas Gift of Tax On Corporations Almost Ready

Paying the bills


Costa Rica celebrated its 200th!

QCOSTARICA  - The 200 years of the Independence of...

Legislator Melvin Núñez, who rejected the vaccine, hospitalized

QCOSTARICA - Restauración Nacional party legislator, Melvin Núñez, who...

Electronic payment in tolls on Ruta 1 will not be automatic

QCOSTARICA - Electronic payment in toll stations located in...

Half of tax collected in marchamos and fuels would not reach roads

QCOSTARICA - It is reasonable to believe the major...

Today’s Vehicle Restriction September 16: Plates ending in “7 & 8” CANNOT circulate

QCOSTARICA - For today, Thursday, September 16, vehicles with...

Legislator proposes the creation of an updated registry of pedophiles

QCOSTARICA - With the intention of protecting minors, a...
Paying the bills


Legislator Otto Guevara attacked the approval of the tax on corporations law
Legislator Otto Guevara attacked the approval of the tax on corporations law

The controversial draft Law on Tax on Corporations (Ley de Impuesto a las Personas Jurídicas), to which legislator and perennial presidential candidate, Otto Guevara, who had sworn to clog the process with motions at the committee level, to speak from more than 100 hours, is now ready for the final legislative process.

The Libertarain legislator had presented more than 200 motions, stalling the draft bill from leaving committee, a fast-tracking allowed only 54 of the motions to be discussed and voted on.

- Advertisement -

The draft bill that is expected to reach the full legislative floor by mid-December calls for an annual tax of ¢64,000 colones for ‘inactive’ corporations (those corporations registered as having no commercial activity); ¢106,000 colones annually for corporations with annual incomes less than ¢51 million colones; ¢127,000 colones annually for corporations with annual incomes up to ¢119 million colones; and ¢212,000 annually for corporations with incomes greater than ¢119 million.

The money collected of this tax would be shared between the Ministry of Security – 90% (Ministerio de Seguridad), the Judiciary – 5% (Ministerio Público) and the Organismo de Investigación Judicial – 5% (OIJ).

For the draft bill to become law, it requires first and second debate and vote by the full Legislative Assembly.

Source La Nacion

- Advertisement -
Paying the bills
"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

Assets of Dissolved Corporations Are Not Lost

A common practice by many foreigners (and Costa Ricans alike) is...

‘Corporations Tax’ Amnesty For 90 Days

From September 1 to December 1, companies can take advantage of...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

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.