Friday, 7 August 2020

New VAT Payment Scheme for Agribusiness

From October 1, Costa Rican producers and suppliers in agricultural and fisheries work will be taxed through the new Régimen Especial Agropecuario (REA) – Special Agricultural Regime.

With the announcement last week, the agricultural and fishing sector have a special regime for declaring and paying VAT, which provides that coffee producers, sugarcane and beekeepers will make an annual declaration.

This does not change fiscal obligations, but allows to be adapted to the particularities of production processes, so as to facilitate compliance.

In its statement, the Ministerio de Hacienda (Ministry of Finance) said that “The formalization of the agricultural and fishing sector is a goal that the Government seeks as a support mechanism for this activity. Therefore, it was necessary to understand well its particularities and adjust the regulations in order to allow them to comply with the new legislation.”

- paying the bills -

Read full statement (In Spanish).

- paying the bills -
- paying the bills -

Related Articles

President has to act quickly on tourist insurance requirements

(QCOSTARICA) OPINION - Today, August 1, is an important day. The...

COVID-19 Costa Rica: 931 new cases and 11 new deaths for July 25

(QCOSTARICA) The Ministry of Health confirmed this Saturday, July 25, 931...

MOST READ

President has to act quickly on tourist insurance requirements

(QCOSTARICA) OPINION - Today, August 1, is an important day. The day that Costa Rica's international airports reopen to the much-needed tourists that is...

Californian invites Afro-descendants to escape racism in Costa Rica

(QCOSTARICA) The wave of events that triggered the death of George Floyd in the United States is new evidence of the systematic racism that...

Mayors promised some businesses to operate during closings

(QCOSTARICA) The Government committed to orange zone mayors easing vehicle restrictions and allow some businesses to operate during the closure phases (August 10 to...

President Alvarado announced 15% pay cut of his cabinet

(QCOSTARICA) President Carlos Alvarado announced Thursday that his has asked his Ministers and executive presidents of public institutions, to join him in a 15%...

Which airlines are arriving and departing from Costa Rica and which are not?

(QCOSTARICA) In the midst of the coronavirus pandemic: which airlines have flights to and from Costa Rica and which do not? This is the...

A challenging 12 days ahead drivewise in Costa Rica

Rico's DIGEST - In a few days, on Monday, August 10, most of the Greater Metropolitan Area (GAM) and the Panama border areas of...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.