New Changes to Costa Rica's Tax Reform Project

Facing pressure from political parties and productive sectors, the government decided to change the project.

Monday, April 18, 2011

Modifications include a new set of basic products extent from value added taxes and changes to the "social economic" sector, which includes solidarity associations, cooperatives and the "Banco Popular".

Fernando Herrero, Treasury Minister, "added that he sees no problem in removing the 1.5% tax over corporate revenue and keeping partial payments in the income tax", reported Nacion.com.



More on this topic

Costa Rica: Constitutional Tribunal Rejects Tax Reform

April 2012

The Sala IV has rejected the tax reform bill that was approved in the first instance in Congress, citing procedure errors in the legislative treatment.

The court decision means, in principle, that the bill that the government calls the "Solidarity Tax" will be returned for consideration by congressional representatives and it will therefore be at least another four months before it can be approved.

Costa Rica: Debate on Tax Plan Continues

June 2011

The new proposal by the Government still does not meet the expectations of different sectors.

Businesses and the political opposition in Congress are continuing to put the brakes on the government’s tax reform proposal, which has been presented in the form of a second amended version with which they have tried to satisfy the project’s critics.

Fiscal Reform in Costa Rica

January 2011

Summary of the legal tax reform aiming at increasing tax revenue by $ 1.000 million, or 2.5% of GDP.

The so-called Solidarity Tax Bill was presented yesterday to the Legislature by the Executive Branch.

The initiative seeks to increase tax revenues by 2.5% of gross domestic product (GDP) which, coupled with the implementation of measures to increase revenue and reduce spending, would balance the public budget.

Costa Rica: New Tax Reform Project

May 2010

The Treasury Ministry is working to integrate a number of existing ideas and proposals into a new tax reform project.

Fernando Herrero, the new Treasury Minister, explained they will review all the existing proposals, summarize them and use the result as the basis for a new bill.

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