Date Set for Payment of Corporation Tax in Costa Rica

The Ministries of Finance and Justice will receive the first payment of the new corporation tax this April, said Costa Rican officials.

The new tax is $262 (135,000 colones) for active registered companies, and $132 (68,000 colones) for inactive ones. In 2013, the tax will be higher: about $349 (180,000 colones) for active corporations, and about $174 (90,000 colones) for inactive ones, reported Nacion.com.

With the income from this tax rise, approved last year by the Legislature, the government expects to raise about $68 million (35,000 million colones) to be directed towards strengthening the security budget.

Source: Nacion.com

More on this topic

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An annual tax of $312 will be created for companies, branches or representatives of foreign corporations, limited liability companies who are in active business.

The tax targets active corporations which undertake some type of commercial business. For inactive companies (not engaged in lucrative activities), the tax is $156.44.

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The 2006 bill would create an annual tax of $200 payable by all incorporated companies.

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The tax applies to all corporate entities, of which there are currently 550,000 registered.

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This request will mean a delay, of at least 30 days, in the eventual adoption of the tax which the government intends to use to raise revenue to fund security programs.

Costa Rica: Corporate Tax Endorsed

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The Constitutional Court has endorsed a tax on corporations, which had been sent for review by opposition legislators.

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