Costa Rica eliminates taxes in order to benefit farmers
The government issued a decree which simplifies procedures and provides tax exempts on agricultural supplies and equipment.
Monday, August 18, 2008
"This decree establishes very clear guidelines, very clear procedures and expands the opportunity for these groups to access equipment, machinery, but most of all this decree provides legal security to the business sector of Costa Rica through a very transparent process," indicated the Minister of Finance, Guillermo Zuñiga.
The Agricultural Sector has experienced the loss of hundreds of acres of various crops, factories and company closures, and the reduction of thousands of jobs in Costa Rica.
Producers are complaining about a lack of agility and excessive paperwork in the process to request tax exemptions for the purchase of equipment and farm machinery.
The line of credit will be designated to provide financial assistance to small and medium exporters.
The idea is to make it faster for farmers to perform the procedures required for tax exemptions.
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