Costa Rica Free Zones suffer from recession in the US

The economic crisis in the United States has caused the growth rate for exports from the free zones to fall to just 1.4% this last year.

Friday, December 5, 2008

US companies have reduced their purchases of good made in Costa Rica and hence, the sector has grown by only 1.4% since October 2007 to October 2008.

"The growth is not all that encouraging but at least there is growth," commented Timothy Scott, director of the Association of Free Zone Companies (Azofras).

The accumulated amount for sales from the 215 companies in the free zones was $4.3 billion, or only $61 million more than the amount for ...



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Update on Free Zones in Costa Rica

August 2016

In 2015 331 active companies were registered, of which 52% are devoted to services, 45% to manufacturing and the remaining 2% to the food industry.

From the executive summary of the study by PROCOMER "Balance of Free Zones: Net profit regime for Costa Rica 2011-2015":

Statistics on Free Zone Regime in Costa Rica

July 2015

A study by PROCOMER indicates that for every dollar exonerated in the period between 2010 and 2014, companies in the free zone regime generated $5.7 on average for the country.

From the executive summary of the study by PROCOMER entitled "Free Zone Balance 2010-2014":

4. Country Net Profit (CNP) for the operation of the Free Trade Zone Regime (FZR) reached an average of US $2.556 billion a year in 2010-2014.

Costa Rica: Free zones request better fiscal incentives

January 2009

The companies are asking for reforms to the Law of Incentives that would allow a reduction in income tax starting 2015.

Nacion.com reports on its website: "Timothy Scott, director of the Association of Free Zone Companies (Azofras), explained that the companies are asking that the new tariff that will come into effect in 2015 be "one digit" (less than 10%).

Costa Rica will give priority to reforming free zones

January 2009

During the first quarter, the Ministry of Foreign Trade (Comex) will send the bill to the Assembly in hopes of getting it passed during the first quarter of the year.

According to nacion.com, "the objective is to guarantee that companies remain in the country, to encourage them to reinvest and to have a clear legal framework to attract new companies.

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