Costa Rica will give priority to reforming free zones

During the first quarter, the Ministry of Foreign Trade (Comex) will send the bill to the Assembly in hopes of getting it passed during the first quarter of the year.

Monday, January 5, 2009

According to nacion.com, "the objective is to guarantee that companies remain in the country, to encourage them to reinvest and to have a clear legal framework to attract new companies.

The reform bill will also be used to include some type of general incentive for local investments, said the Minister of Comex, Marco Vinicio Ruiz.

More on this topic

Costa Rica: Taxes to Free Zones

September 2011

The Executive and Ministry of Commerce are clashing over the collection of taxes from 2015 from companies in free zones or industrial parks, included in the tax reform bill.

The new regulations are included in the proposed fiscal reform presented by the government to the Legislative Assembly.

Free Trade Zones in Costa Rica: 5% Tax

April 2009

With the reform to the Law on Free Zones, the country is adapting its legislation to WTO rules.

On Tuesday, the Executive Branch presented draft amendments of the Law on the Free Trade Zone Regimen (7210), which amends five items in the current law, to the Legislative Assembly.

Costa Rica's Free Zones require definition of the system

November 2008

There is concern about the incentives to be received after 2015 when benefits expire according to World Commerce Organization provisions.

The Government wants to ensure these conditions through a reform of the free zone law aimed at attracting investment.

However, its early yet and the possibility of taking it to Congress for a vote seems far off.

The Costa Rican Ministry of Commerce (Comex) expedites free zone reforms

October 2008

Comex is negotiating at the political level so that the free zone reform project can be send to the Legislative Assembly in December.

The initiative will modify incentives to companies that setup up in Costa Rica under this system, in order to have incentives that are in accordance with the regulations of the World Trade Organization (WTO).

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