Agribusiness: New VAT Payment Scheme

Since October 1, Costa Rican producers and suppliers in the agricultural and fishing sector have a special regime for declaring and paying VAT, which provides that coffee producers, sugarcane and beekeepers will make an annual declaration.

Thursday, October 3, 2019

The new Special Agricultural Regime (REA) does not change fiscal obligations, but it allows them to be adapted to the particularities of production processes, so as to facilitate compliance, informed the authorities.

See "Tax Benefits: Agricultural Producers Registry"

From the Ministry of Finance statement:

October 1, 2019. As of October 1, all natural and legal persons engaged in agricultural and fishing will be taxed under the new Special Agricultural Regime (REA).

This was announced on Tuesday by the President of the Republic, Carlos Alvarado, the Minister of Agriculture and Livestock, Renato Alvarado, and the Vice Minister of Finance, Nogui Acosta in a press conference at the Presidential House.

"The formalization of the agricultural and fishing sector is a goal that the Government seeks as a support mechanism for this activity. Therefore, it was necessary to understand well its particularities and adjust the regulations in order to allow them to comply with the new legislation," said President Carlos Alvarado.

Read full statement (In Spanish).

More on this topic

Costa Rica: Banks Facing Tax Reform

April 2015

In its comments on the bill on income tax and sales reforms currently under public consultation, a request has been made that financial institutions be subject to a system of global and not published income.

From a statement issued by the Costa Rican Banking Association (ABC):

Guatemala Tax Calendar January 2015

January 2015

Payment schedule for liabilities in January 2015 and Memorandum on Tax Bancarization.

Tax Memorandum

The requirement for Tax Bankarization is regulated by Articles 20 and 21 of Decree No. 20-2006, articles which were amended by Articles 27 and 28 of Decree No. 04-2012, specifically in order to change the amount of bankarization amount from $6,585 to $3,951

Guatemala: Closure of Inactive Companies

August 2012

From August 2012, the Superintendency of Tax Administration will formally record the "Temporary Cessation of Activities" of natural or legal persons under the General Regime of VAT.

Companies declared as having the status of temporary closure, will not be allowed to issue invoices because they have no active status with the tax office.

Nicaragua: DGI creates obstacles for producers

November 2008

Rules forces them to personally carried out the processes to get exemptions for each producer and for each transaction

Producers and distributors of agricultural products in the country rejected the General Administrative Regulation #15-2008 of the Income Department (DGI), which establishes the procedure for VAT exemption for the agriculture sector, the arts and crafts industry and the sports fishing industry, which could generate some $25 million dollars in new taxes for the Government.

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