Costa Rica to Introduce Tax Reform
The project includes sharp increases in consumption taxes and cutting public spending.
Monday, January 17, 2011
The government plans to introduce the fiscal adjustment plan to the National Assembly over the course of the week.
The Sala IV has rejected the tax reform bill that was approved in the first instance in Congress, citing procedure errors in the legislative treatment.
The items to be introduced are: global income, world income, and municipal taxation on dividends distributed to companies operating in free zones.
The political agreement reached between President Chinchilla and the opposing party Acción Ciudadana (Citizens Action) may ensure the speedy adoption of the tax package.
The President Laura Chinchilla is insisting on tax reforms to mitigate the high fiscal deficit.
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