In an article in Elfinancierocr.com, Francisco Villalobos, director general of taxation, analyzes the resolution establishing the "obligation to submit audited financial statements by large taxpayers and territorial big business."
The text stresses the observation of Director Villalobos, in the sense that companies that currently do not have audited statements for previous years (2008, 2009 and 2010), may declare this to the Tax Administration, "and present unaudited financial statements. Equally they may also submit the details electronically with a note attesting to the veracity and authenticity of these, signed by the corresponding person in the company. "
Villalobos expressly states that "for the fiscal year 2011, in which there are six months left for preparation and delivery, the submission of audited financial statements for Taxation, is mandatory."
Source: elfinancierocr.com
More on this topic
December 2010
The amendment passed by Congress requires banks and financial institutions to publish in newspapers their financial information.
"With the amendment, article 32 says that "the supervised institutions are required to publish, in accordance with standards established by the Commission, their balance sheets and profit and loss statements at the end of each year with their accompanying notes and auditor's opinion,” states the article in Proceso Digital´s website.
September 2011
Starting this year, taxpayers must use the EDDI software for filing income tax.
According to the website of the Ministry of Finance, the electronic tool (EDDI – Digital Processing of Tax Returns) allows taxpayers to submit the following tax forms
- Declaration of Income tax D.101
September 2011
The Costa Rican Department of Taxation will audit companies that declare income below the minimum percentages required.
The thresholds for the different productive sectors will be published before 24 September and arise from the amounts that were declared previously by the taxpayers and those detected in the audits.
January 2012
In January, the first Convention of Tax Information Exchange could be signed with Australia.
In order for this convention, and others are under negotiation, to be implemented, Congress needs to approve the banking secrecy law, which would allow access to accounts relating to tax matters, a requirement of the Organization for Economic Cooperation and Development (OECD).
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