Corporations Tax

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.

Monday, July 2, 2012

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.

Regarding this, the Directorate of Registration of Legal Entities has issued guidelines, DRPJ 003-2012, authorizing the settlement even in cases where the company does not have legalized books. "



More on this topic

Public Limited Companies: Penalties for Late Payments

March 2021

In Panama, the General Revenue Directorate (DGI) announced that it will suspend corporations that for the term of three consecutive years or more, have not made the payment of the single tax.

According to the General Revenue Directorate (DGI) of the Ministry of Economy and Finance (MEF), the authorities are currently updating the list of legal entities in arrears for three consecutive years or more in the non-payment of the single tax, pursuant to the provisions of Article 318-A of the Tax Code.

Dissolved Companies Can sell Their Goods

September 2017

Companies that have been dissolved by the National Registry of Costa Rica for being delinquent in the payment of the tax to legal entities can liquidate their assets, despite being inactive.

The National Registry clarified that the assets of the 265 thousand companies that were dissolved were not canceled, what remains in relation to them are collateral goods or mortgages, which means that the owners can dispose of them by means of a process of liquidation.

Companies In Tax Arrears to be Dissolved

August 2017

The National Registry of Costa Rica has announced that it will dissolve companies that have not paid tax to legal entities for a period equal to or greater than three years.

From a statement issued by the College of Accountants:

August 2017. Next Friday, September 1, the collection of the Tax on Legal Entities will be reactivated, this tax applies to all types of commercial companies, such as Limited Liability Companies, limited partnerships, collectives, individual limited liability companies, and others.

The Problems of Corporations Tax

May 2012

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.