Monday 21 June 2021

While Government Talks Tax, “Social Solidarity Economy” Bill Would Create Eexemptions For Certain Groups

Companies registered under the virtually pay no taxes.
Companies registered under the “Social Solidarity Economy” would pay no taxes.

(QCOSTARICA) A bill creating the regime of “Social Solidarity Economy” (Economía Social Solidaria  – ESS), which creates exemptions from virtually all taxes for companies registered in the scheme.

The vice president of the Chamber of Commerce of Costa Rica, Victor Ruiz, said that “… the model of the ESS (Social Solidarity Economy) represents unfair competition against formal private companies and contributes nothing to the serious fiscal problems of the country because it reduces the question of tax collection. ”

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See: ” political indoctrination in technical education ”

The much criticized proposal that the National Training Institute teach concepts of “social solidarity economy” is accompanied by an initiative that would exempt from paying various taxes companies that choose to operate under that regime, constituting “unfair competition against … formal private companies … which does not contribute to solving the country’s serious fiscal problems, because it reduces the question of tax collection,” according to statements made to by Victor Ruiz, vice president of the Chamber of Commerce of Costa Rica.

In addition to the exemption from payment of land tax for a period of 10 years, they will not pay “… national or municipal taxes or duties on acts of formation, registration, modification of statutes and other legal requirements for operation. ”

Neither will they pay taxes that are “… national or municipal on assets that these ESS institutions acquire for the “normal course of their activities.” It is important to note that the law does not define what is “normal development.””

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Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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