Sunday 26 September 2021

Owners of Corporations Are Exposed to Closures for Non-payment of Corporations Tax

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75897_620This year is the third year that the “corporations tax” comes payable, as each “active” corporation required to pay ¢199.700 colones and ¢99.850 for “inactive”.

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.

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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).

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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.

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