The tax is payable by January 31.
The importance of the third year is that for business owners who have ignored paying the tax during the last two years, they may have their businesses closed.
For delinquent owners the main sanction is the losing of the corporation. Additional sanctions can range from not being able to get certifications (required for transcations) to not being able to register a new corporation.
Also, the law allows levies a fine of ¢92.50 colones (less thant US$0.20) for each day of default for an active corporation and half of that for an inactive.
The tax can only be paid at the Banco de Costa Rica (BCR).
The only corporations exempt from the tax are “small businesses” registered with the Tributación and the Ministerio de Hacienda (Taxation and Ministry of Finance).