Monday 27 March 2023

Treasury will make up a new basic tax basket

Products that are included would drop in price in three months

Paying the bills


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25 March 2023 - At The Banks - BCCR

Paying the bills


QCOSTARICA – The Ministerio de Hacienda (Treasury) will create a new basic food basket (canasta básica), which would cause a decrease in the price of the products included.

The new basket is subject to consultation by the General Directorate of Finance. Among the changes will include cleaning products, hygiene and personal items, in addition, it will take into account the three quintiles with the lowest income.

The canasta básica is a set of foods and products expressed in sufficient quantities to satisfy the calorie needs of a household

The included products will pay a Value Added Tax (VAT) of 1%, while for those excluded the 13% tax.

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Rudolf Lucke, Director General of the Treasury, said that the modifications seek to cover a broader sector of the population. On the other hand, he estimated that the decrease in product prices would occur in three months.

Lucke explained that the methodology to establish the new basic food basket is being submitted to consultation by the population for a period of ten days.

President Rodrigo Chaves promised in his electoral campaign to modify the current basket to one of consumption and nutrition.


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