Wednesday, 27 May 2020

Salaries Below ¢792.000 Monthly Are Income Tax Exempt

(QCOSTARICA) On Thursday, September 29, published in the official government newsletter, La Gaceta, is the decree updating the income tax regulations where the minimum monthly exempt from taxes is ¢792.000 colones.

Every year, in September, the Ministry of Finance (Ministerio de Hacienda) updates the income tax provisions.

The adjustment applies to salaries, bonuses, salaries, allowances, commissions, overtime, royalties, pensions and other items. The taxation year begins on October 1 and runs to September 30.

The tax increases progressively. Monthly earnings from ¢792.000 n  to ¢1.188.000 is taxed at 10%, above that the tax is 15%.

- paying the bills -
- paying the bills -
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Rico
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"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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