Friday, 25 September 2020
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President signs law that frees tourism of VAT for another year

(QCOSTARICA) President Carlos Alvarado, this Tuesday singed the law that exempts, for another year, the Value Added Tax (VAT) for tourist services registered with the Costa Rican Tourism Institute (ICT). The VAT moratorium law for the tourism sector will come into force today, August 19,...

Construction and tourism exempted from VAT for a year

(QCOSTARICA)  Legislators on Monday approved, in the first debate, two bills that exempt tourism and construction services from the payment of the value added tax (VAT) for another year, but without seeking an alternative source of fresh income for the Government. The bill, which requires...

Every colon counts for the 1.2 million Ticos hit by the VAT

(QCOSTARICA) The entry into force of the 1% of the Value Added Tax (VAT) in the basic basket (canasta basica) items, as of this Wednesday, July 1, represents a blow that will not necessarily go unnoticed by an important group of the neediest and...

Services and products would cost more in July

(QCOSTARICA) Tighten the purse strings, come July we can expect to pay more for rice, bread, beans, the pet products and even to buy a house. This is because it was established that in July month the Value Added Tax (VAT) would go into effect...

Getting married (and even divorcing) will be more expensive on July 1

If you are planning on getting married (or divorcing), celebrating a birthday party, anniversary or any other type of celebration, be ready to pay more starting on July 1 when the Value Added Tax (VAT) - Impuesto al Valor Agregado (IVA) in Spanish) -...

Netflix Yes, Amazon No With Respect To The VAT

The Ministerio de Hacienda (Ministry of Finance) explained on Friday that the proposed 13% Value Added Tax (VAT) on goods on services being processed through Congress that includes taxing online purchases would be applied to Netflix, but not to Amazon. Hacienda explained that the tax...

One Step Closer to a Tax Reform

The Costa Rican Legislature has accepted a fast track bill that would transform the 13% sales tax into a Value Added Tax (VAT) and in addition a 4% rate on the purchase of packaging, wrapping and raw materials, among other things. The Impuesto al Valor...

Government Proposes To Charge 4% VAT Tax On Airline Tickets, Books and Machinery

Expected today, Thursday, is the government's final draft of its tax reform that establishes two Value Added Tax (VAT) rates -  Impuesto Sobre el Valor Agregado (IVA) in Spanish - one 13% and the other 4%, with the aim of alleviating the deterioration of the...

Government Decides To Propose A 13% VAT

Being more feasible to obtain the 29 votes needed in Congress, the Government decided to propose transforming the current 13% sales tax to a Impuesto Sobre el Valor Agregado (IVA)- Value Added Tax (VAT) - instead of the 15% it had been promoting. The Vice...

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