Dissolved Companies Can sell Their Goods

Companies that have been dissolved by the National Registry of Costa Rica for being delinquent in the payment of the tax to legal entities can liquidate their assets, despite being inactive.

Thursday, September 21, 2017

The National Registry clarified that the assets of the 265 thousand companies that were dissolved were not canceled, what remains in relation to them are collateral goods or mortgages, which means that the owners can dispose of them by means of a process of liquidation.

"The vice president of the Costa Rican Association of Public Accountants, Luis Javier Porras, explained that dissolving a company is akin to being undocumented. 'That is to say, it will not be issued legal status (document that grants rights and obligations) and without that it is impossible to withdraw money or certify that someone is a representative of the company owning a particular vehicle or property'."

"... In order to resolve the situation, owners must go through a liquidation process, in which the shareholders agree and appoint a "liquidator", who will be in charge of distributing the assets according to the participation or quantity of shares of each of its partners."

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More on this topic

Costa Rica: Law for Corporate Income Tax Return

November 2020

The Legislative Assembly is preparing to consider, in the first debate, a bill aimed at exempting inactive companies from the obligation to file an income tax return.

The file of this legislative proposal is number 22,307 and was presented by Deputy Pablo Heriberto Abarca. The initiative will be discussed in the Assembly, despite the opposition of the Ministry of Finance.

Companies In Tax Arrears to be Dissolved

August 2017

The National Registry of Costa Rica has announced that it will dissolve companies that have not paid tax to legal entities for a period equal to or greater than three years.

From a statement issued by the College of Accountants:

August 2017. Next Friday, September 1, the collection of the Tax on Legal Entities will be reactivated, this tax applies to all types of commercial companies, such as Limited Liability Companies, limited partnerships, collectives, individual limited liability companies, and others.

Corporations Tax

July 2012

The deadline for dissolution of corporations so as not to be taxed this year has passed; those who have not done so can start the process now in order to be exempt from future taxes.

Any legal entities that are dissolved from now on will have to pay the tax for the year when they begin the process of dissolution.

The Problems of Corporations Tax

May 2012

Lack of clarity in the text of Costa Rica’s law imposing a tax on corporations, is creating ambiguities and difficulties in collection.

The National Registry is experiencing many difficulties in implementing the collection of tax on corporations, because it lacks allocated funds to proceed, and the registry of MSMEs at the Ministry of Economy, Industry and Commerce (MEIC) is not very helpful because of its own shortcomings.

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