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.
The amendment to the Tax Code, partially approved by Congress, omits the concept of "global income", and establishes "territorial income".
Latribuna.hn reports that "...The Bill for a new Tax Code was drafted by the government, employers and a sector in the social economy, and during the dissemination it was said that the change to "Territorial Income represents a setback in the fight against capital flight."
An article has been removed from the Law on Public Decentralization which granted municipalities the freedom to set and collect fees on property appraisals.
The Chamber of Commerce Industry and Agriculture of Panama has expressed its opposition to Article 113 of the Bill of Public Decentralization, which stated that "... the municipality has the power to fix and collect fees on the contribution of valuation or revaluation of land , common land or immovable property located in the geographical area of the district. "
The 100 largest taxpayers registered with the Ministry of Finance paid tax equivalent to 2% of their annual gross income.
Representatives from the department stated that they will start investigating some companies this year who have reported losses or very low taxation, "...
An agreement has been made to postpone until May 25 the effectiveness of various lists of tax breaks for the purchase of raw materials in order to work on a single document and add new products.
At a meeting between representatives of the government and the private sector it was agreed to extend the validity of the lists for tax exemptions in order to negotiate within that period the inclusion of other products and the creation of a single document. It was also agreed to remove fines for importers starting from 1 April.
If the Treasury's proposal succeeds, interest on bank deposits would incur 8% to 15%, while for revenues generated by mutual funds, the tax would rise from 5% to 15%.
This unification is due to the fact that currently there are different taxes for similar types of income, therefore the tax is not neutral, according to the CEO of Taxation. In the case of surplus cooperatives and solidarity associations, the project proposes "... Keeping the current tax of 5% for amounts of income less than minimum wage exempt from tax. "
Requests have been made for the clarification of which telecommunications services are to be taxed with VAT, since it is unclear whether it is information services or telecommunications which would be taxed.
Currently telecommunications services are charged sales tax, even though the Costa Rican government aims to close the digital divide. With this new reform proposal, a Value Added Tax (VAT) of 15%, "would be incurred ... It would be the first time that telecommunications services are integrated into a tax
The Attorney General's Office is recommending to the Constitutional Court that it reject the appeal which seeks to outlaw the power of the taxation department to proactively collect tax debts.
The appeal to the Constitutional Court by a group of taxpayers is still under consideration by the judges and although there is still no resolution to this effect, the Attorney General of the Republic "... supported the power of the Treasury to collect advanced payments of taxpayers tax debts. "
Authorities at the International Airport in Panama are evaluating raising tariffs for services offered at the terminal in order to cover the cost of the current expansion and future projects.
Between 2009 and 2012 there were only two upward adjustments in rates for airport services, one on the departure tax, and another on charge paid by airlines for each per passenger.
In an attempt to increase tax revenues, the executive announced that it is now considering taxing the distribution of soft drinks such as juices, isotonics and sodas.
It is expected that in the first week of February analysis will be presented of modifications to the tax on the distribution of beverages and on tobacco and tobacco products, with the aim of obtaining more resources to finance the national budget for this year.
On January 2nd the tax paid for building permits issued by the municipality of San Miguelito rose by 40%.
In the last 15 years the cost of building permits in the Municipality of San Miguelito has not been reviewed or adjusted, according to representatives of the entity. Because of this, the municipal authorities announced the increase of 40%, which they attributed the increase in building materials and labor in the last year.
In order to encourage investment in the country, starting from this fiscal year income tax paid by taxpayers registered in the regime on profits will be reduced from 28% to 25%.
According to the latest amendment of the Law on Tax Update, Decree 10-2012, the rate of income tax (ISR) applied to taxpayers from 2015 will be 25%. The authorities clarified that the rate of 28% will be applied to taxpayers who have not yet completed the liquidation of 2014
The application of tax of $0.65 per mobile phone line that had been proposed by the Executive to fund part of the 2015 budget has been temporarily suspended.
The Constitutional Court temporarily suspended the collection of the tax on telephone lines after the Chamber of Industry and the three phone companies operating in the country submitted an appeal against the tax.
At the end of the December 31, deadline to qualify for the current moratorium, a 10% surcharge will be incurred by those behind in the payment of taxes on income or property.
According to some taxpayers this measure represents a "...
If the proposed amendment to the Scanner Act is approved, the fee to be charged will be $70 on merchandise worth over $2,000 and $20 on goods ranging in value from $500 to $2000.
In addition, there will be a fee of $25 on freight from the free zone declared in air customs offices and $30 of free zone goods declared in land and maritime customs offices.
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