Costa Rica: Details of VAT and Income Tax Projects

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.

Monday, August 10, 2015

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.
- Payers of this tax are legal and natural persons who provide services or sell goods that are taxed, as well as persons performing imports. In the sale of goods and services mandatory issue of invoices is duly authorized
- Health services are taxed with this Act, however, it provides that in the case of the purchase of private health services (not including hospitalization and surgery) paid using credit card, debit card or other authorized electronic means, the total tax paid will returned to the consumer. The maximum time period for return will be within fifteen days following the month after the acquisition.

More details about the proposal here.

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