Costa Rica: New Proposal for Corporation Tax on Companies

The new bill states that the tax payable by commercial companies will range between 15% and 60% of a monthly base salary, depending on their income.

Wednesday, March 2, 2016

This bill which is currently being discussed in the Committee on Financial Affairs of the Assembly is another attempt by the executive branch, after the first proposal of the administration Solis was declared unconstitutional.

From the bill 19,818, Tax on legal entities:

Of the "... from ARTICLE 3. Tariff

An annual fee to be paid as follows:

a) Commercial companies, as well as a branches of a foreign company or their representatives and individual limited liability companies, which are registered in the National Register but are non-filers and not taxpayers in the Directorate General of Taxation, will pay an amount equal to fifteen percent (15%) of a monthly base salary, according to Article 2 of Law No. 7337, Creation of Concept for a Base salary for Special Crimes of the Criminal Code of May 5, 1993.

b) Taxpayers who have declared gross income in the fiscal period immediately preceding equivalent to two hundred and fifty base salaries or more, will pay an amount equal to sixty percent (60%) of a monthly base salary, according to Article 2 of the Law No. 7337, Creation of Concept for a Base salary for Special Crimes of the Criminal Code of May 5, 1993.

Read full text here (in spanish).

More on this topic

Panama: Strengthen Penalties Against Evaders

January 2019

The law that criminalizes tax evasion was approved by the National Assembly when the amount defrauded in a fiscal period of one year is equal to or greater than $300.000.

With a majority vote, Project 591, which criminalizes tax evasion in the Criminal Code and is considered a crime resulting from money laundering, was approved in the third debate, informed the Legislative Assembly.

Costa Rica: Corporation Tax Revived

March 2017

The Constitutional Chamber has granted approval for the Assembly to adopt, in full, the bill proposing a tax on legal persons which was approved in a first debate in January this year.

The judges of the Constitutional Court found no flaws in the text of the law, giving endorsement to the Legislative Assembly so that it can approve it on a second reading and pass it into law. 

Costa Rica Reactivates Corporate Tax

December 2015

The Executive Branch has submitted a new draft tax law for legal entities which corrects the articles that had led to the law being declared unconstitutional in January 2015.

From a statement issued by the President of Costa Rica:

¢45 billion is the amount of fiscal deficit which will be generated next year, if the tax on legal persons is not collected, to avoid this, the Government has submitted to the legislative process a bill on a Tax on Legal Persons, legislative record number 19,818.

Tax On Registered Companies in Costa Rica

January 2012

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.

 close (x)

Receive more news about Local Law

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Tailor made software for construction companies

O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Nov 20)
Brent Crude Oil
61.47
Coffee "C"
110.35
Gold
1,475
Silver
17.130