Corporations Tax Collection Starts

Starting on Monday all companies enrolled in the National Registry of Costa Rica, must pay an annual tribute established by Law 9024.

Friday, March 30, 2012

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.

In total there are 575,657 corporations on the National Registery’s books, all of which should contribute.

To facilitate making the payments, the National Registery has signed an agreement with Banco de Costa Rica, which will accept payments in all of its branches or online through its website www.bancobcr.com. A ‘cedula juridica’ or company ID number must be provided in order to make the payments.

Under the law, published on 27th December, the tax applies to all commercial companies, including corporations and subsidiaries of foreign companies or their representatives in Costa Rica and limited liability companies.

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