Thursday 25 February 2021
Home Tags Finance

Tag: finance

Legislators open the way for venture capital investors to arrive in Costa Rica

QCOSTARICA - Legislators adjusted the bill that aims to encourage the attraction of rentier pensioners to the country, to include among its beneficiaries those foreigners who invest in venture capital funds or in sustainable tourism infrastructure projects. This amendment to the text was approved last...

The data speak: Stronger pandemic response yields better economic recovery

In a March 2020 article by the Massachusetts Institute of Technology  (MIT), the study using data from the flu pandemic that swept the U.S. in 1918-1919, finds cities that acted more emphatically to limit social and civic interactions had more economic growth following the...

Carlos Alvarado denies solidarity tax on wages of ¢500,000

This Thursday morning, before meeting with legislators at the Museo de Niños (Children's Museum), the Minister of Finance announced that the government will propose the creation of a solidarity tax on both the wages of the private and public sector employees to help finance...

What is the economic blow this new virus will be to the country and people of Costa Rica?

The economic impact of the coronavirus covid-19 is just beginning, as businesses, big and small begin to evaluate the economies in the face of actions of the government to prevent the spread of the contagion and the population facing uncertainty. Perhaps the hardest hit will...

Fake News, The IVA Is NOT Going To 16%!

In less than 24 hours, at least six Facebook pages viralized the fake news about the Value Added Tax or IVA for the Spanish acronym. Before that, the website Diaro La Carta, funded by Francisco Prendas, president of the Partido Nueva República, reported the government's...

Municipal Workers Protest In Front Of Ministry of Finance

Workers from different municipalities are demonstrating in front of the main offices of the Ministry of Finance (Ministerio de Hacienda) on Avendida 2, blocking traffic in the center of San Jose. They are protesting against the draft “Ley Marco de Empleo Público” (Public Employment Framework...

Moratorium On VAT Sanctions Approved

In typical Costa Rican fashion, on the second day of the implementation of the Value Added Tax (VAT), the legislators approved the bill that decrees a period of three months in which the Ministerio de Hacienda (Ministry of Finance) cannot apply any penalty generated...

Squeezing Out Every Single Last Colon

In the caricature we see the Ministra de Hacienda (Minister of Finance), Rocio Aguilar, squeezing all she can from "tico mae". It will sure feel that way in a few days, when the current sales tax is replied by the value-added-tax or VAT (impuesto al...

Taxation Closed 35 Businesses In The Last Week For Tax Irregularities

Behind on your business taxes? The General Directorate of Taxation, of the Ministry of Finance (Ministerio de Hacienda), may be knocking on your door as it did this past week, yellow taping (closing down) 35 businesses for five calendar days in different parts of...

Canadian Capital Fuels Colombian Cannabis Boom

(Ozy.com) Decades have passed since the bulk of marijuana cultivation in the Americas shifted from Colombia up to Mexico. But the tides are turning again. This time, suited businesspeople, not drug cartels, are betting on a lucrative Colombian weed crop, bound for markets around...

Yes, microlending reduces extreme poverty

A small boost in microlending to the developing world could lift more than 10.5 million people out of extreme poverty. That’s one conclusion of my study, published last month in The B.E. Journal of Macroeconomics, which found that microfinance not only reduces how many...

Germany, Costa Rica To Avoid Double Tax Starting Jan 1

(QCOSTARICA) Global Tax News -  German's Finance Ministry on October 24 confirmed that the double tax avoidance treaty between Germany and Costa Rica will apply from January 1, 2017. The treaty, signed on February 13, 2014, is the first such agreement between Germany and Costa...

Will There Be A Light At the End of the Fiscal Reform Tunnel in Costa Rica?

QCOSTARICA - Experts warn that the draft law which aims to raise income tax and convert sales tax into Value Added Tax (VAT) might not be approved for two years, despite the government's intention to have it place before the end of this year. The...

Hacienda Extends Consultation on Tax Reform

QCOSTARICA - The Ministry of Finance (Ministerio de Hacienda) has postponed until April 17 the deadline for individuals and businesses to comment on the draft legislation reforming income and sales taxes. Originally the deadline for providing comments on the tax proposal was March 27, but...

Government Plans To Create 15% VAT On Goods and Services

QCOSTARICA - The government on Tuesday proposed transforming the current sales tax of 13% to a Value Added Tax (VAT), levied both on goods and services, at a rate of 15%. The proposal by the Ministry of Finance (Ministerio de Hacienda) establishes a gradual adjustment:...

TRENDING - 10 MOST POPULAR

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.