Costa Rica: Approval of Business Tax Moves Forward

An annual tax of $312 will be created for companies, branches or representatives of foreign corporations, limited liability companies who are in active business.

Tuesday, August 9, 2011

The tax targets active corporations which undertake some type of commercial business. For inactive companies (not engaged in lucrative activities), the tax is $156.44.

"The bill exempts micro and small enterprises registered as such with the Registry of the Ministry of Economy, Trade and Industry, and who are registered as taxpayers with the Directorate General of Taxation.

Francisco Chacon, liberationist deputy, said last night that there may be active partnerships, doing business, who are not registered with the Ministry of Finance, because in order to qualify as a micro or small businesses they must meet several parameters.

The fiscal period for the tax will be between 1 January and 31 December and is to be paid in January. If a company registers in the course of this period it pays the tax proportionately.

The project also grants a period of three months from when the law comes into force for corporations to be dissolved without having to pay tax. "

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Tax On Registered Companies in Costa Rica

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A new annual tax applied to existing and new legally registered companies will become effective on April 1st.

Law 9024, the Company Tax Law, imposes a tax on all corporations, as well as branches of foreign companies or their representatives and individual limited liability companies that are registered or hereafter entered in the National Registry.

Costa Rica: Corporate Tax Endorsed

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Now the bill must go to a second debate, in order to be formally approved.

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Costa Rica: New Tax Will Not Apply to MSEs

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The government has reiterated that the new tax on corporate bodies, approved in first debate in Congress, does not apply to Micro and Small Enterprises.

The new statements come in the face of recent criticism of the bill, by some opposition representatives.

The proposal, which intends to charge a tax of $300 for corporate bodies registered as active and a $150 for those who are non active, and was approved in first reading in the Legislative Assembly and is currently being debated in the Constitutional Court.

Costa Rica: Corporate Tax Plan Stalled

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The libertarian movement has asked the Constitutional Court to review the proposed tax on legal persons.

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