Costa Rica: Warning Against Tax Increase

The Institute of Chartered Accountants has stated that projects to reform VAT and income tax will affect the final consumer by making goods and services more expensive.

Friday, March 13, 2015

From a statement issued by the Institute of Chartered Accountants:

The President of the Institute of Chartered Accountants, Ovares Francisco, believes that the new bills to reform the Value Added Tax (VAT) and income tax (ISR), which the Treasury is submitting to public consultation will have a direct impact on consumers.

He argues that if the reform is implemented, consumers will have to expand their budgets to cope with the increase in various goods and services.

"As always, it is the consumer who will pay the bill, therefore we consider it appropriate that all parties make a deep analysis of the proposal and respond to the consultation of the Treasury with valid arguments" Ovares said.

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Bill on value added tax (VAT):

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