In order to tax the total amount of profits of individuals or corporations based in Costa Rica, regardless of where their profits are generated, a bill was submitted to the Assembly that seeks to amend the Income Tax Law.
Currently in Costa Rica a territorial income system is applied, which consists of taxing profits produced exclusively at the local level.
Despite a severe economic crisis, Costa Rican authorities have approved the imposition of a 1% VAT on several foodstuffs in the basic food basket, and 4% on certain tourist activities and construction services.
Before the emergence of the pandemic, the Costa Rican economy was already in a difficult state, and the impact of the covid-19 outbreak ended up hitting it in the worst way, which is evident in the performance of productive activity.
After recording a slowdown in the revenue of companies in the sector in 2018, it is expected that this year in Costa Rica will begin a cycle of better sales and increased investment because of an increase in consumption of services.
During the last year, the revenues of the 152 operators and providers of telecommunications services in the country totaled about $1.422 million, an amount that is similar to that of 2017, since it is only 0.3% higher.
The difficulties in identifying staff training needs and the lack of a clear relationship between new employee skills and incentives diminishes the possibility of achieving company goals.
According to the Deloitte 2019 Global Study of Human Capital Trends, in which more than 9,400 business leaders from around the world participated, including 261 from Costa Rica, the learning of business staff is the most relevant trend.
The new tax reform proposal presented by the Ministry of Finance of Costa Rica includes the creation of a global income system to impose and collect a tax on the profits of companies and individuals.
Taxing all of the profits of natural and legal persons, including those currently paid separately by the identity code income method, is the principal new feature of the new tax reform plan presented by the Ministry of Finance.
The General Directorate of Taxation is preparing regulations to govern the sales prices of goods and services between companies considered as related to each other.
This regulation is currently under review by the legal department of the Ministry of Finance. The aim is to have it in force before the end of the current administration, said Carlos Vargas, CEO of Taxation.
The Chamber of Exporters of Costa Rica has detailed the losses by the sector caused by the significant appreciation of the colon in the last three years.
As explained by CADEXCO, producers of meat, sugar and coffee suffered more than 70,000 million colones in losses, while for the banana industry is it calculated at $0.80 per box exported.
In the pineapple sector, meanwhile, the calculation is of a direct impact of more than 15%, mainly due to higher exchange rate via payroll taxes, wages and electricity, among other things.
In the second forum on competitiveness organized by AmCham and Deloitte, the incidence of bureaucratic obstacles to the development of priority projects for the country was highlighted.
The main theme of the meeting was a discussion on "how to make the necessary changes to define priorities for the execution of public works projects that improve the country’s competitiveness with regards to the rest of the world ... [establishing as a priority] improving the involvement of the state and private industry using transparent concession allocation mechanisms. "
A mixed committee was formed for suggesting the most convenient alternative for digital television in Costa Rica.
It will be composed by the Telecommunications vice minister, representatives from Camtic (Chamber of Information and Communication Technologies), a delegate from Veritas University and a representative from the state's Tertiary Education Institutions.
Staff recruiters are starting to use information from job candidates found on social networking sites.
Although such information is not the most important, it is being used to complete the candidate's profile.
Considering the diffusion potential of the Internet, and the persistence of any information published, which may exist in backups and indexes even after deleted, we must be very careful in what we publish, to avoid damaging our reputation in any way.
The event will take place next June 11 in Costa Rican and it is organized by Deloitte and the Chamber of Industries of Costa Rica.
The objective is to identify the key aspects in the process of liberalization of the telecommunications sector in Costa Rica, with special attention to the regulatory aspects upon which the Government and the Regulator will have to decide.
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