Tax Amnesty to Begin in Costa Rica

On December 5th, will begin the period in which the taxpayers who pay their debts in the first three months after the publication of the Law will be absolved of arrears and sanctions.

Wednesday, December 5, 2018

The publication of the Law to Strengthen Public Finances in the official newspaper La Gaceta marks the beginning of the three-month period for taxpayers with debts to the Ministry of Finance, the Instituto Mixto de Ayuda Social (Imas), the Instituto de Fomento y Asesoría Municipal (Imas) and the Instituto de Desarrollo Rural (Inder) to update their accounts without charging interest and penalties.

You may be interested in "A Fiscal Short Break for Costa Rica"

The tax amnesty is to exempt 100% of interest on arrears and up to 80% of the penalty for taxpayers who pay in the first month after the release, 70% if debts are paid in the second month and 60% if it is during the third month.

Also see "Fiscal Amnesty in Costa Rica: How will it be?"

Crhoy.com reports that "... The only restriction is that only debts corresponding to tax obligations incurred before October 1st, 2017 may participate in this amnesty. The period to amend the irregular situation is in the 3 months following the publication of the Law in the official newspaper La Gaceta, so it would end on March 5th, 2019."

The article adds that ".... Three months after the amnesty ends, income and sales tax reforms will begin."

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More on this topic

Tax Amnesty Approved in Panama

September 2019

For interest, penalties or surcharges to be 100% forgiven, taxpayers will have until November 30, 2019 to pay their overdue taxes.

On September 26, the National Assembly approved Bill 78 of 2019, which aims to exonerate from interest, surcharges and fines of taxes that are delinquent and owed by taxpayers.

Fiscal Amnesty in Costa Rica: How will it be?

November 2018

The tax reform law that would be approved in second debate in the coming weeks, involves the exoneration of arrears and penalties for taxpayers who pay their debts in the first three months after the publication of the law.

The proposed measure consists of exonerating 100% of the interest on arrears and up to 80% of the penalty to taxpayers who pay in the first month after the Law is published in the official newspaper La Gaceta.

How Tax Holiday in El Salvador Applies

October 2014

The Legislative Assembly of El Salvador has approved a temporary law which allows debtors to the state to apply for a payment plan of up to six months.

Debtors who request the payment plan within 90 days can enjoy this benefit which exempts them from penalties and interest. This decree is intended for individuals and businesses that have experienced conflict in paying the taxes required by law.

Exemptions of Fines, Interest and Penalties in Guatemala

June 2013

The amnesty includes those who owe taxes for tax periods prior to 1 January 2012.

S21.com.gt reports that "this measure is complementary to the cancellation of 10% in tax payments and 50% reduction in the circulation tax".

"It was clear they had to agree to the waiver.

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