From September 1 to December 1, is the timeframe for companies to make use of an amnesty to regularize the payment of corporation tax.
Corporations that are behind in payments of the tax from the periods of 2012 to 2015 can apply for the amnesty and pay only the principal of the debt.
The Registry Office of Legal Entities of the National Registry confirmed to Nacion.com that"... the benefit will be maintained for a period of three months, i.e. the deadline is December 1, as defined by the Tax Law on Legal Entities. "
Facilities have been enabled to approve cadastral plans digitally without requiring the physical presence of surveyors and property owners at the offices of the National Registry.
The new initiative known as Approval of Topographic Plans (ATP) has made the process of approving cadastral plans in Costa Rica digital, as from now on the physical presence of surveyors and property owners on the premises of association of Engineers and Architects (CFIA) or the Land Registry will no longer be required reported that union.
Starting from May 15 organizations can use inventories, cash flows, patents and other things as collateral for bank loans.
The regulations for the Law on Secured Transactions are now ready and the law will take effect on May 15, and from that date, companies will be able to put up crops, agricultural machinery, copyrights, among other things, as collateral for the purpose of obtaining bank loans.
Lego International has won a lawsuit against Lego PZ Multiservicios S.A. of Costa Rica for the misuse of the toymaker's brand name.
Lego International won the lawsuit filed against the corporation Multiservicios Lego PZ Costa Rica for the unauthorized use in its company name, of the trademarked name Lego. The Register of Legal Entities at the National Registry ordered the administrative detention of the corporation.
Between 2009 and 2013 the number of Chinese vehicles in the Costa Rican Public Registry multiplied by 9.
In the last five years, Chinese vehicles went from 0.3% of new cars registered in the country to 2.2% in 2013, according to the National Registry Office. Brands such as BYD, Changan, Geely, Greatwall, JAC and ZAP, have been gaining ground in the Costa Rican market.
A new web platform has been presented to register architectural plans in digital format with the National Registry.
From a press release by the Association of Engineers and Architects (CFIA):
The Association of Engineers and Architects (CFIA by its initials in Spanish), the College of Engineering Surveyors (CIT in Spanish) and the National Registry office have presented a new electronic digital registry system for surveys and plans to be submitted to the National Registry. The procedure will be carried out through the platform known as ' Administrador de Proyectos de Topografía (APT)' (Project Management for Surveys), belonging to the CFIA, and which enables users across the country to register online, without having to go to the office of the National Registry in Zapote.
Globalization increases the need to protect the brand names of products which have become an increasingly valuable asset allowing effective communication with customers.
"One of the characteristics of brand names is to be something distinctive, a vehicle of communication between the seller and the consumer, which can become a very valuable asset," says Bernal Molina, from the Industrial Property Department at the National Registry Office.
The National Registry offers online services such as email alerts, certification for legal entities, real estate, and cadastre and images, which can be paid by credit card or debit card.
The new website of the National Registery, www.rnpdigital.com, also allows online consultations, the purchase of services such as registry alerts at a cost of $15, certifications for legal entities, real estate and cadastre images that start from $5.22 (¢ 2,600) up to $7 (¢ 3,500).
The deadline for dissolution of corporations so as not to be taxed this year has passed; those who have not done so can start the process now in order to be exempt from future taxes.
Any legal entities that are dissolved from now on will have to pay the tax for the year when they begin the process of dissolution.
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According to an article in Nacion.com, "The LIP [Ley de Impuesto a las Personas Jurídicas or Law on Taxes for Legal Entities] also amended Article 129 of the Notarial Code, allowing notaries to handle the liquidation of commercial companies when the solution is unanimously agreed by its partners.
Legal entities not reporting activity should de-register in June otherwise they will have to pay this tax.
If the owners of inactive companies do not de register, they will have to pay the tax, which is half of a basic monthly salary (currently $358.45 or ¢180,300) for active entities and 25% for inactive ones (¢ 90,150 would or $179.23).
"In addition, the owner will face penalty interest, which is an annual rate of 13.30%, representing a daily interest of ¢50 for active partnerships and ¢25 for inactive ones, said Carlos Camacho, president of Grupo Camacho" as reported by Nacion.com.
Lack of clarity in the text of Costa Rica’s law imposing a tax on corporations, is creating ambiguities and difficulties in collection.
The National Registry is experiencing many difficulties in implementing the collection of tax on corporations, because it lacks allocated funds to proceed, and the registry of MSMEs at the Ministry of Economy, Industry and Commerce (MEIC) is not very helpful because of its own shortcomings.
Starting May 1st, the National Registry of Costa Rica will offer a property alert service which will give owners greater control of their assets.
The service is called Alert Registry and will be available to owners of personal property (vehicles) and real estate (land). The annual fee to receive notices is $15 per year (7700 ¢) for each of the properties you want to put under surveillance.
Starting on Monday all companies enrolled in the National Registry of Costa Rica, must pay an annual tribute established by Law 9024.
The basis for calculating the new tax is 50% of a basic monthly salary, which is 180,300 colones ($357) in 2012, and 90,150 colones ($178.5) or half, for inactive companies for each year from January to December.
Because 2012 will not be a full tax year, the amount payable is 135,225 colones ($268) for active companies and 61,612 ($122) colones for inactive ones, according to Insidecostarica.com.
The Costa Rican National Registry has started using a modern cadastral map for certifying property deeds which will provide greater security for people buying land.
Deeds will include two aerial views of the property or land, reports The Costa Rica News website.
The new maps include names, plot numbers, and district or cantons divisions, among other features.
Greater knowledge of these financial tools is driving their use in the country.
Equity and Guarantee Trust funds are the most popular of these types of instruments in Costa Rica, where more and more companies and individuals are choosing to manage their properties using this alternative.
Between 2000 and 2011 property management trusts increased from 67 to 6930, reflecting increased knowledge about the characteristics and advantages of this instrument for managing property.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...