Bill to Require Retailers to Accept Credit Cards

A A bill presented in Costa Rica aims to improve tax controls by forcing merchants to accept payments with credit and debit cards.

Friday, August 1, 2014

The bill introduced in the Legislature by the Ministry of Finance, entitled "An Act to improve the fight against fiscal fraud" includes other initiatives such as the imposition of a sales tax on property rentals of less than one month duration.

In the case of the obligation for shops to accept cards for payments, "... promoting the use of 'plastic money', the bill establishes that the Treasury could make a return to traders of up to 1% of sales tax generated from transactions using this payment method."

"...In addition, it states that in order to perform any process with a public body or municipality, such as obtaining a permit, getting a license etc, the person must be up to date with their obligations to the Treasury. "



More on this topic

Costa Rica: Shareholder Registry Approved

December 2016

With the legislative endorsement of the law against tax fraud the Ministry of Finance will be able to have access to the list of shareholders of corporations, and the people behind other legal entities.

The bill which was approved in second debate by the Legislature stipulates: an obligation to accept as a method of payment, in addition to cash, credit cards and debit cards; an obligation to be up to date with tax payments before making contracts or applying for permits, concessions or authorizations with any state institution; the introduction of penalties for tax advisers engaged in illegal maneuvers to evade or reduce the amount to be paid by taxpayers; and strengthening of the processes of judicial collection.

Costa Rica: Details of VAT and Income Tax Projects

August 2015

Among the new features are VAT refunds to those who pay for private medical practices with cards and the establishment of a new fiscal year, from January 1 to December 31.

From a statement issued by the Ministry of Finance:

Bill on value added tax (VAT):

New Features

- This project establishes a value added tax (VAT) levied on sales of goods and provision of services in Costa Rica.

Costa Rica: Changes in Income Tax

March 2015

The reform under public consultation includes tax on remittances sent abroad, on the payment or crediting of interest, commissions and other financial expenses by natural or legal persons domiciled in Costa Rica.

From the order by the Ministry of Finance published in La Gaceta:

Costa Rica: Details of Anti Tax Evasion Bill

August 2014

Limiting the deduction of interest from income tax and eliminating the exemption from payment of 15% for dividend distribution between companies are part of the changes included in the project.

The Bill to Improve Anti-Tax Fraud, presented by the Ministry of Finance amends various tax issues that must be taken into consideration by companies operating under Costa Rican law.

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